Confused over 4th year review

kns_2

I have just had my 4th year review and they have not mentioned anything about any equity release in my property.
Is this normal or should they tell me to get a valuation?
As for the valuation I am 10k negative equity so would I be correct that if my property is in the IVA then at the end of year five my Iva will end, as there is no proposed equity release figure set.
I am a bit confused as in one part of my IVA it says
The debtors property is to be professional valued within 3 months after the fourth year anniversary of the arrangements, the debtors equitable interest is to be realised and paid to the supervisor before completion of the arrangements.
If necessary the arrangements can be extended with the approval of 75% of the creditors voting to allow an equivalent sum to be paid by way of ongoing contributions for a period of up to twelve months.
Then in the IVA Proposal it says about the value of my property and says that we estimate there is negative equity in the property and therefore proposes to exclude it from the IVA Arrangement. To protect creditor’s interest, I will sign a form RX1 to enable the supervisor to register a restriction over our property.
I have had my property valued just in case they try and pull a fast one, saying I did not get the property valued.
It just seems strange that they have not mentioned any of this in my fourth year review.
In my fourth Annual review to the creditors it has 3 tables
Table 1 –expected realisations
Income contributions £33,538.00 Property Realisations £0.00 Vehicle Realisations £0.00 Other Asset Realisations £0.00
Table-2 Contribution Performance
Income contributions due to date £25,010.00 Income contributions received to date £25,010.00
Table-3
Property and Asset Realisations
Property and asset Realisations due to date £0.00 Property and asset Realisations Received to date £0.00 Additional contributions received to date £0.00
Sorry for the very long post.

Baggiebird1nil

Please check your paperwork. We completed our IVA in June of this year but it was written in (luckily for us) that there would be no come back against the property. Still not had our completion certificate though but it is a wonderful feeling knowing that we have paid our dues.

kns_2

I have checked my paperwork and it says the above.

Baggiebird1nil

The only thing I can say then is to call your company and see what they say. Good luck and don't forget you only have another 12 payments to go. The feeling when you pay the last payment is fan bloody tastic!!

JokerDurden

Baggiebird1nil wrote: »

The feeling when you pay the last payment is fan bloody tastic!!

Amen to that