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IVA - IS it all it's cracked up to be

denisthemenace · 2006-06-07 10:43:45

I received a phone call from a company about my debt, they offered various ways to solve my debt problem. One of them was an IVA. On the surface it sounds ok, almost too good to be true. you pay a set amount for 5yrs, with an annual financial review, any outstanding debt at the end is cancelled. I'm wondering whether it…

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donnalove Posts: 574 Forumite

7 June 2006 at 9:03PM

sparkle84 wrote:

Donna do you know what happens if you property goes down in price and you don't have enough equity at the moment house prices (IMO) are stagnent at best - I deffo wouldn't have that much equity in my house to hand over??

hi sparkle

normally in circumstances where there is no equity then a further years payments would be required.

donnalove
xx

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IVA - IS it all it's cracked up to be

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