advice please

lucieloo

Hi up, yes i feel that the company is about to go under. A slight dip in revenue and it will snap most definite. My iva is for 6 years already and she is saying that it will be extended to 7.

Anondebtadvisor

Lucieloo, i suggest that you get a recent quick sale valuation on your house along with a mortgage redemption figure,if the equity is under £5000 they cannot extend your IVA.

lucieloo

Hi thanks already asked for a redemption figure and looking how to do a valuation. I did think that but she said we can add another year. Well i will wait to see the outcome of my f&f but cant see it going through. She said can you go back and see if you can get nearer the 5k mark?? I was like yeah ill just go and ask my kind relative who has offered me 3.5k any chance you can up it! lol If i could get 5k i would offer it. I want to pay it all back. If i said to iva company can i just keep paying untill 100% of the debt is paid back would they allow this??

lucieloo

I have just done a zoopla valuation and my valuation is £116,500 - £122,500 and my mortgage is for £167,000. so i doubt i have any equity.

Anondebtadvisor

On those figures it seems they have no right to extend the IVA to 7years.

Put those figures to them and see what they say if your F&F is not accepted