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  • #31
    Re: Need Questions answered if possible please

    Originally posted by Never-In-Doubt View Post
    It might be worth mitigating losses and ask Andrew to write to them (aka kick their arse) on your behalf, for a nominal fee which you'd save by default by cessation of the unlawfully added 7th year payments - as I suggested earlier today.

    Just saying like.....
    Would Andrew PM to explain what he would do please.

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    • #32
      Re: Need Questions answered if possible please

      I'll ask him to contact you.
      I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

      If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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      • #33
        Re: Need Questions answered if possible please

        Good news, I hope.

        I've just had a telephone conversation with an equity expert, and he said That as long as the other party refuses to sign an equity release form, then that would be considered as no equity available, the only way equity can be release is if the other party was removed from the mortgage, and that won't happen.

        So I wait and see what happens now - fingers crossed.

        Regards to all....

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        • #34
          Re: Need Questions answered if possible please

          Originally posted by rennats View Post
          he said That as long as the other party refuses to sign an equity release form, then that would be considered as no equity available
          You'd think that GT would already know that wouldn't you.

          Regardless of this new information (to you) it also doesn't alter the fact that as ATW has already pointed out your IVA agreement says a maximum of six years not seven years.
          I don't give advice, I share wisdom. Whenever the chips are down there's always a Plan B

          I'm a fully qualified mother which is the hardest exam I've ever sat. I have other more formal qualifications which are less important

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          • #35
            Re: Need Questions answered if possible please

            this bit of the agreement seems good

            Where it is demonstrated after month 54 that the equitable share is less than £5,000 (gross) the property is to be excluded from the arrangement without extending the existing term. The costs of the re-mortgaging to release equity shall be deducted from the mortgage proceeds and the monthly payments deducted from the contribution. If the increased cost in the mortgage means that dividends to creditors fall below £50 per month after fees, monthly payments are stopped and the IVA is concluded.
            Without going back over the thread. If you own half the property, then the equitable share would also be half. Would you say that 50% equity would be less than 5k?

            It would be interesting to speak to a mortgage broker (independant) to ask them to give you some figures for re-mortgage, monthly repayments. From what i understand, if there was an increase in payments (which i imagine there would be if claiming you need 85% LTV) would that then make the share of repayments to creditors fall below £50 per month? it probably would.
            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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            • #36
              Re: Need Questions answered if possible please

              any one know what happened in this matter, as I have a friend who has an IVA with GT, was with Bains and Ernst originally , she say's Gt have sent her some letters in the past, but as she has a drink problem getting information out of her to help is hit and miss (hic and hiss)
              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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              • #37
                Re: Need Questions answered if possible please

                Hi Everybody,

                Just to update everybody who is still following this thread.

                Grant Thornton have not contacted me in the last 3 months, no help has been offered with this situation, and My IVA is due to finish in June 2014. So after six long years and no payments missed, my next move is to stop the direct debit after the June payment and see what happens.

                I'll get back here with any news as soon as hear something.

                Comment


                • #38
                  Re: Need Questions answered if possible please

                  Best of luck, rennats. Please do keep the thread updated with any news...
                  If happy little bluebirds fly, beyond the rainbow, why, oh why can't I?

                  sigpic

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                  • #39
                    Re: Need Questions answered if possible please

                    Thanks for the update, good luck
                    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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                    • #40
                      Re: Need Questions answered if possible please

                      Originally posted by nightwatch View Post
                      Thanks for the update, good luck

                      Just forgot to tell everyone, I check my Experian credit report and it seems everything has been cleared, I now owe no creditors any money, so why do Grant Thornton want me to release equity on my home, and pay for another year? this it seems is to make them more money, A right fecking fiddle if you ask me. no one should enter into an IVA if at all possible, six years, you get less for manslaughter.

                      Anyway, I'm looking forward to wrestling with this firm after the last payment is stopped in June. They can go and whistle were the sun don't shine.

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                      • #41
                        Re: Need Questions answered if possible please

                        disappearing from your credit file is a side issue. It would do after 6 years since default. Doesn't mean there isn't a balance.
                        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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                        • #42
                          Re: Need Questions answered if possible please

                          Originally posted by SXGuy View Post
                          disappearing from your credit file is a side issue. It would do after 6 years since default. Doesn't mean there isn't a balance.

                          Thanks for that bolt of lightning..

                          Still, I'm going to contest this all the way. I still think they are wrong.

                          According to my calculation I have paid well over the original debt, this should be finished now.

                          Also I forgot to mention, Each and every debt has a status of Satisfactory and a balance of Settled.

                          anything else I should know SXGuy

                          Regards
                          Steve
                          Last edited by rennats; 19th May 2014, 21:06.

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                          • #43
                            Re: Need Questions answered if possible please

                            I was merely correcting your assumption that no details ment no balance, whether or not there is a balance is for you, or rather them, to prove.
                            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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