www.iva.co.uk

Hi there

I am a little confused here as I think Hussa is also. From Hussa's post it would appear that the IVA will be fully paid up (100% back to creditors) at the end of its term in 10 months time. If this is the case, why is a remortgage necessary? Are you in fact required to remortgage just to cover statutory interest, as would appear to be Hussa's case? I don't mean this to sound glib, I am just interested.

Many thanks

Liz

I've just popped hussa's post up to the top. X

Hi
The maximum that Hussa could pay is original debt plus IP fees and statutory interest
Regards

Hi Andy

Thanks for your reply and I understand what you are saying but is it also correct that as Hussa will, by the end of the IVA in 10 months have paid the creditors back 100% of the original debt, he (forgive me if you are a she Hussa), will then be required to remortgage to pay the statutory interest? Sorry if I am being dense Andy, I just can't quite get my head round it.

Cheers

Liz

Not dense Liz - I am sitting here pondering the same point!

Thanks Melanie and Andy. Await your thoughts with interest.

Liz

Hi
He or she will have to raise this point prior to remortgaging.It would be sad to have to remortgage just to cover IP fees and interest.
Regards

Thanks Andy - exactly my point.

Liz