Mortgage Broker suggeststhat I release the equity

[rachel.v]

Thank you for your advice. I am quite happy to let my IVA continue as it is at the moment - we are okay with the payments and I really don't want to get in a mess with my money now especially as I have a budget and I can stick to it. The only reason I said the secured loan was the worst thing I did was that at the time we thought it would get us out of the debt we were in - it didn't hence the IVA and we seem to actually be paying anything off it - we borrowed £28,000 including the PPI (which we were told we had to have to enable us to borrow the money!) and now when all the interest is added if we want to settle the loan it works out at around £36,000 even though we have been paying it off for 6 years. To be honest, I think I will stick to the IVA until the end. A Mortgage Broker from GE Capital visited us and said we were better to stick to the IVA for the time being anyway.

[MelanieGiles]

Ian

I completely concur with the comments you are making here. Could it be that there is some link between these companies?

And to Rachel - I would discuss this directly with the IP rather than a member of staff who may be pretty low down the food chain.

[ianmillington]

Thank you for your advice. I am quite happy to let my IVA continue as it is at the moment - we are okay with the payments and I really don't want to get in a mess with my money now especially as I have a budget and I can stick to it. The only reason I said the secured loan was the worst thing I did was that at the time we thought it would get us out of the debt we were in - it didn't hence the IVA and we seem to actually be paying anything off it - we borrowed £28,000 including the PPI (which we were told we had to have to enable us to borrow the money!) and now when all the interest is added if we want to settle the loan it works out at around £36,000 even though we have been paying it off for 6 years. To be honest, I think I will stick to the IVA until the end. A Mortgage Broker from GE Capital visited us and said we were better to stick to the IVA for the time being anyway.

If you don't mind me saying so Rachel, a wise decision.

Melanie - thanks for your support on this.

[iva.com]

Hello Rache.v, I read your thread with interest and wanted to remind you about the review boards on our web site. Whatever the experience you have of your IVA provider it is a great place to leave it for the rest of the community to learn what they may from it.

Many thanks
Susan Macdonald