Need Questions answered if possible please

[rennats]

Re: Need Questions answered if possible please

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.

[Never-In-Doubt]

Re: Need Questions answered if possible please

I'll ask him to contact you.

[rennats]

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....

[PlanB]

Re: Need Questions answered if possible please

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.

[SXGuy]

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.

[nightwatch]

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)

[rennats]

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.

[diddlydee]

Re: Need Questions answered if possible please

Best of luck, rennats. Please do keep the thread updated with any news...

[nightwatch]

Re: Need Questions answered if possible please

Thanks for the update, good luck

[rennats]

Re: Need Questions answered if possible please

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.

[SXGuy]

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.

[rennats]

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.

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

[SXGuy]

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.