In an I.V.A. but need some cash fast

JY19819

Hi, I have been in an I.V.A. now for 18 months and not missed any payments. I need some cash for a new boiler and a couple of other small jobs. Is it possible to get finance from anywhere wether it be secured or unsecured as I have about £60,000 of equity in the house. Would it be better asking my present mortgage provider ?

ILW

How will you make the repayments?
Or do you want them put into the IVA as well?

timetofixit_2

Talk to your IP about a payment break - I doubt your IVA T&C would allow credit or if it does not sufficient for your needs.

cheesedoffwithdebt

agree with the advice to speak to your IP.

I don't think it's allowable to borrow more on your mortgage because at the end of the IVA you will be asked to see if you can remortgage to settle at the end of the term if you have more than 85% equity in your home.

I hope you get it sorted though!

RuthnJasper

Yes, speak to the IP. I'm in the last year of my IVA and have been able to take a payment break when I found myself in a situation similar to yours. I'm sure they'll be able to help if you explain the situation to them. Best wishes. x

JY19819

Thanks gents for your input. I will have a word with my IP and see if they will give me a payment holiday or two, thanks again.

Anondebtadvisor

Many things will crop us during your IVA, car failing MOT, washing machines breakdown, boiler repairs etc and your IP will be used to helping ou where necessary with payment breaks so have a chat with them and i am sure they will help out

Good luck