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IVA Remortgage Request in month 68!
Hi. I am wondering where I stand on the following. We had an IVA which started in 2019 with Hanover which then got transferred to Ebenegate.
At month 54, we heard nothing. Zero communication so carried on with our monthly payments. We are now in month 68 and have received an email with a letter attached stating we must now try to remortgage to release equity or go into another 12 months of payments.
Are they allowed to do this, or would they be in breach of the agreement on their side if they pursued this action?
We are fully up to date and the account says we have three monthly payments left?
Very surprised to receive such an email so I responded with a copy of said agreement, specifically citing clause 10.
Please help?
Thank you.
At month 54, we heard nothing. Zero communication so carried on with our monthly payments. We are now in month 68 and have received an email with a letter attached stating we must now try to remortgage to release equity or go into another 12 months of payments.
Are they allowed to do this, or would they be in breach of the agreement on their side if they pursued this action?
We are fully up to date and the account says we have three monthly payments left?
Very surprised to receive such an email so I responded with a copy of said agreement, specifically citing clause 10.
Please help?
Thank you.
0
Comments
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Standard IVA terms and conditions unfortunately.
Although they are a little late in making this request, it usually happens year 4 or 5, but otherwise its normal practice yes.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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