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Ending my IVA
nathswindon
Posts: 10 Forumite
in IVA & DRO
I'm 54 mounts into a 72 month IVA.
I'm not sure if my options
I could see the IVA out but I'm worried about the equity release and having an extra 12 months.
The IP tell me the it cannot be extended by 12 months in one breathe and then that it can in the other.
I'm tempted to borrow the money and settle the IVA early.
Will I still be subject to equity release clause? Will it guarantee to prevent my IVA being extended?
Thanks
I'm not sure if my options
I could see the IVA out but I'm worried about the equity release and having an extra 12 months.
The IP tell me the it cannot be extended by 12 months in one breathe and then that it can in the other.
I'm tempted to borrow the money and settle the IVA early.
Will I still be subject to equity release clause? Will it guarantee to prevent my IVA being extended?
Thanks
0
Comments
-
Finishing an IVA with borrowed money is always an option, but probably not a good one. I'll see if I can find an article debt camel wrote.
https://debtcamel.co.uk/iva-settlement/
https://debtcamel.co.uk/perinta-loans-end-iva-early/
I would stick with the IVA and argue the equity release issue when it crops up
1 -
what does the equity release section in your IVA document say, ultimately that is all they can go off of.0
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