uh-oh have i messed up beyond reair?

keeny1975

ok so i have been on my iva for 7 years and i have £5,400 to pay on a remortgage i cant get. and i have about 5,000 to pay back because of overtime i never handed in.
so in total around £10,400 to pay by august 2014.

so i don't think i can pay that so what happens next?

please no hahaha's your screwed and such a like comments.

thanks

longtermplanner

Supplying equity from a remortgage is usually only required if you can remortgage, so I doubt whether you owe this money. The standard procedure is that equity release is investigated in the fifth year and the IVA is extended by one or sometimes two years if you can't remortgage. This seems to have happened in your case. Is there a reason why you think you do still have to come up with this money?

re the overtime, when should these payments have been made? Why didn't you make them? Was there a good reason such as increased expenses or something?

So late in your IVA you may be able to get your creditors to agree to accept that your IVA has been completed. How large were the debts going into the IVA? How much have you paid in in total so far?