IVA management procedures etc

RugbyMum_3

Hi all, have been glued to this web-site for a couple of hours now and have found it to be a great source of information and indeed comfort !
My husband and I are aro £80K in debt and have just contacted National Debt Line who suggest an IVA. I think I understand it all, but have a query regarding the mortgage bit. We own one quarter share in our property and rent the rest from L&Q - so what happens to us in the 4th year - we've tried to borrow money against our mortgage but were told this was not possible, neither was a remortgage.
Also once the monthly IVA payment is set does this change ? I presume you have to submit payslips etc, when is your account reviewed ?? Do your payments increase if you have more money coming in (ever the optimist !!).
Appreciate any comments/advice!
:-( ... is there an icon for scared witless ?

tigerfeet2006

Steve, do you have permission from MSE to post as Debt Free Direct? You need to talk to the admin guys and ask for their permission to do so.

Have reported this post so hopefully they will be in touch with you to sort it out.