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rules for renters
haverhillhammer
Posts: 67 Forumite
in IVA & DRO
I gather that if you are a homeowner on an IVA, you are required to try and remortgage after 54 months of an IVA.
However, if one is living in rented accomodation, does the IVA last for exactly 60 months and end? I am just on 4 years into my IVA. I cannot get any information out of my IP.
They don't help with much at all, really.:rotfl:
However, if one is living in rented accomodation, does the IVA last for exactly 60 months and end? I am just on 4 years into my IVA. I cannot get any information out of my IP.
They don't help with much at all, really.:rotfl:
Debt free!!!!!!!!!! :j
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Comments
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My friend was in an IVA, he had no assets at all, rented, didn't drive so no car, no savings. His IVA was 60 payments and finished. He had to wait for his certificate until the IVA company was satisfied that all PPI payments was received, he wasn't asked for anymore money.Treat other's how you like to be treated.
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UPDATE,
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I wasn't on the mortgage (in DH's name only), so they couldn't make me try to remortgage - but that was known at the start, so my IVA was set at 72 months.
You may find (though I don't know for sure this would happen at all) that yours goes to 72 months, which has happened to others who (unsurprisingly) are unable to remortgage whilst in an IVA.LBM July 2006. Debt free 01 Sept 12 .. :T
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Aim to be mortgage free in 2022. Jan 17 33250 Nov 17 27066 Mar 18 24498 Sep 18 20608 Nov 18 19250 Jan 19 17980 Mar 19 16455 May 19 15024 Nov 19 10488 Feb 20 8150 May 20 5783 Aug 20. 3305 Nov 20 859 Mortgage free, 02.12.20200 -
haverhillhammer wrote: »However, if one is living in rented accomodation, does the IVA last for exactly 60 months and end? I am just on 4 years into my IVA. I cannot get any information out of my IP.
What does your IVA agreement say?
Good starting point."Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!0 -
I think there will be some changes announced soon, as there were for DRO's?0
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It doesn't say anything about it.Foxy-Stoat wrote: »What does your IVA agreement say?
Good starting point.Debt free!!!!!!!!!! :j0 -
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