Posted: Tue Aug 26, 2008 5:50 pm
I entered an IVA in August 2006. In my agreement it states that I will continue my IVA for an additional 6 months as we had only just purchased our house and had now equity at the time.
I also had a loan through my work which was not included as it was thought it may put my job at risk. This loan was meant to finish 4 years into the IVA which then meant that the payments which are now £330 would go up to £550. I have since included that loan into the IVA as I found it difficult paying it.
I have not had any revised figures from my IP as to whether I will pay this increased amount in 2 years time or not. We have also done a lot of work in our house since, and the value has gone up. We owe £80k on our mortgage and the house is valued at £105k.
We are getting married in Aug 2010 and in 2011 I want to start a family. If we were to re-mortgage in 2011 when there is only a year left on the IVA would it be reasonable to offer a settlement? Also, will they take kindly to me wanting to start a family when the IVA is still going.. or should I just wait to get pregnant and then sort it out.
I have read through my agreement with a fine tooth comb and its very unclear about the equity in the property.. can they still demand it even if it doesn't say so in the agreement? I find my IP extremely unhelpful and when I'm burdened by all these questions, they don't ever seem to want to help.
I also had a loan through my work which was not included as it was thought it may put my job at risk. This loan was meant to finish 4 years into the IVA which then meant that the payments which are now £330 would go up to £550. I have since included that loan into the IVA as I found it difficult paying it.
I have not had any revised figures from my IP as to whether I will pay this increased amount in 2 years time or not. We have also done a lot of work in our house since, and the value has gone up. We owe £80k on our mortgage and the house is valued at £105k.
We are getting married in Aug 2010 and in 2011 I want to start a family. If we were to re-mortgage in 2011 when there is only a year left on the IVA would it be reasonable to offer a settlement? Also, will they take kindly to me wanting to start a family when the IVA is still going.. or should I just wait to get pregnant and then sort it out.
I have read through my agreement with a fine tooth comb and its very unclear about the equity in the property.. can they still demand it even if it doesn't say so in the agreement? I find my IP extremely unhelpful and when I'm burdened by all these questions, they don't ever seem to want to help.