Get expert opinion. This is the place for new questions to be posted.
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Dawn.hf
- Posts: 1
- Joined: Thu May 17, 2012 2:27 pm
1 What does it mean when I "may have to release some or all of the equity in my home - I have no mortgage but does this mean I will have to give up part of the value of my home and thus have no home?
2 how much would it cost in legal fees to set up an IVA?
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Shining
- Posts: 27019
- Joined: Thu Sep 20, 2007 8:57 am
- Location:
Hi and welcome to the forum. If you do not have a mortgage and rent a property the equity clause would not affect your IVA.
IP fees will be payable for them to administer the IVA and it would be best to talk direct to an IP about fees. These won't affect you directly they're part of your payment.
www.iva.com is a comparison site where you will find a list of companies. Always advisable to contact 2 or 3 to chat to.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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trionon
- Posts: 37
- Joined: Mon May 21, 2007 2:49 pm
- Location: United Kingdom
unless the house is owned outright, in which case it will, but if it is and there is enought equity to cover the debt, it's better to re-mortgage than do IVA in my opinion as likelihood of re-mortgaging whilst in IVA is pretty much zero if things continue the way they are
