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[landlegend]

I WAS OFFERED A FINAL SETTELMENT OF £15000 ON MY IVA BUT CANNOT RAISE THE CASH OF MY MORTGAGE AS NO EQUITY IN PROPERTY BUT IS THERE ANY WAY OF RAISING THE MONY VIA A LOAN AS MY CURRENT IVA PAYMENT HAS DOUBLED THIS YEAR AND IT WILL RISE AGAIN WHEN I GET MY NEXT PAY RISE. MY SALARY HAS NOW DOUBLED SINCE MY IVA STARTED BUT MY OUTGOINGS HAVE ALSO INCREASED BUT MY IP IS NOT INTRESTED JUST WANTS TO KEEP PUTTING THE PAYMENTS UP
CHEERS JIM

[hiho]

Hi Jim

Usually the only form of credit you can apply for whilst in an IVA is a mortgage with the permission of your IP. It would be in very exceptional circumatances that you would be able to apply for a loan. The IVA will also be on your credit file so will also find it difficult to apply for credit anyway.

Your IP will be able to advise you whether or not this is feasible for you.

[haydenamzy]

Hi Just out of interest, how much was the debt you went into your IVA for?
Thanks
Amy