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Posted: Sun Jun 22, 2008 11:32 pm
by sim77si
hi there. this is my first time so i'm a little nervous. i am after some advice. i'm currently in an iva and would like to release the equity in my property approx 30k so that i can clear my iva and start life again. can anyone help?
Posted: Sun Jun 22, 2008 11:35 pm
by Viki.W
Hey sim77si, welcome to the forum, please don't be nervous, everyone here is lovely![:I] If you could post a few more details then the experts will be able to help. How long have you been in the IVA, what was your debt amount and did you have the equity release clause in your IVA (you probably did). Viki X
Posted: Mon Jun 23, 2008 12:21 am
by MelanieGiles
The best thing that you can do is discuss this with your IP who has detailed knowledge of your case. Was the property included in the IVA - ie are you obliged to offer equity raised during the final year to your creditors as well as contributions for five years?