Posted: Wed Jun 04, 2008 5:38 pm
Hi
Me and my husband have an interlocking IVA and it says on the front of each of our proposals "To be read in conjunction with .......". There is a possibility that we will be splitting up (not because of the IVA and debt stress, for other reasons) but not yet a definite.
Can you clarify something for me please?
On each of our proposals it says about the Equity Release figure in year 4 being something like £15,000 odd. Does this mean that we each have to contribute £15,000 or is this the total contribution expected between us both. I think its the latter i.e. we would be expected to find £15,000 between us. If it helps to clarify matters, at the time of us entering into the IVA our house was valued at £250,000 and our outstanding mortgage and secured loan was around the £240,000 mark.
Thanks
Liz
x
Me and my husband have an interlocking IVA and it says on the front of each of our proposals "To be read in conjunction with .......". There is a possibility that we will be splitting up (not because of the IVA and debt stress, for other reasons) but not yet a definite.
Can you clarify something for me please?
On each of our proposals it says about the Equity Release figure in year 4 being something like £15,000 odd. Does this mean that we each have to contribute £15,000 or is this the total contribution expected between us both. I think its the latter i.e. we would be expected to find £15,000 between us. If it helps to clarify matters, at the time of us entering into the IVA our house was valued at £250,000 and our outstanding mortgage and secured loan was around the £240,000 mark.
Thanks
Liz
x