A year and a bit on :0)

GoingUnder

I just thought I would take a few minutes to bring hope to persons going BR or in their 12 mth BR period.

My wife and I went BR in May 2011. We kept the car and were told the house would be dealt with in three years.

Our OR interviewer was quite aloof and always left me feeling that he held us in contempt, but everyone else in the office was great.

We negotiated our IVA by Dec 2011 after disputing the OR's figures. We were assisted by forum member Debt Doctor who drafted our letter or response. We reduced the IVA by £300 per month so were extremely grateful to DD.

My wife suffered from depression and anxiety. The uncertainty about the house was making her worse. We approached the OR and asked them to deal with the house as soon as possible rather than wait, on the basis it was havng an adverse effect on my wife's health. We got a letter from our Doctor to that effect.

We were pleasantly surprised by the response. We had 2 valuations done and were asked to make an offer. I made a low offer to buy back the BI based on the fact we had an early redemption payment on the mortgage which would reduce any equity. The Asst OR contacted us refusing our offer but, when I spoke with him, he suggested that if we made an offer based on the equity without the early redemption (minus selling fees etc) then it would be looked on favourably. The Early redemption ran out in a few months anyway.

We did this and with the help of family money bought the BI in our house at the 9mth point of BR.

So, apart from the remainder of the IPA we have reached Automatic Discharge and have everything else squared away.

I thank this forum for all the advice and guidance we received and hope that our experience can help or guide others.

GU :beer:

debt_doctor

Hi Going under,

I remember you very well, and I'm pleased that it seems to be working out for you. As you know, I don't accept the recent policy change on IPA's - the legislation has not changed, I'm pleased to say I've had further success on that front.

Good luck.

DD

Depth_Charge

debt_doctor wrote: »

Hi Going under,

I remember you very well, and I'm pleased that it seems to be working out for you. As you know, I don't accept the recent policy change on IPA's - the legislation has not changed, I'm pleased to say I've had further success on that front.

Good luck.

DD

Hi

Hear, hear

GoingUnder

thanks again DD

debt_doctor

No problem, I am pleased to have helped.

DD