Urgent Advice needed today

susieanne

Just a note to say I am also going to ask on the IVA board

I started an IVA 9 months ago and today I have received a letter from my IVA company stating that they have reviewed my iva and I did not send back my RX1 form this form apparently enables them to register a restriction on my property which when I entered the IVA I agreed to .

They have sent me the RX1 form saying I have 7 days to sign it or my IVA will be terminated

Im I right in signing it id never heard of this form ?

sourcrates

Hi,
Been in an IVA myself, however I did not own a property, but I believe if you do own one, the creditors have the right to get you to re-mortgage in the last year of your IVA in order to release more funds to them, I think it only applies in you are not in negative equity though, that will of been in the small print somewhere, and I assume this form is the form you need to sign to allow them to do that, you need to ring the company you are with and find out exactly what this form is for, they should be more than helpful towards you as they stand to make a great deal of money from IVA`s, so it is not in either of your interests for the IVA to fail, which company have you gone with ?.

happy_bunny_2

Makes no sense. How's anyone on an IVA going to get a new mortgage?

Maybe give CAB a call to see if you should fill it in.