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Stevieboyz
Just Joined

1 Posts

Posted - 31 Jul 2020 :  19:29:43  Show Profile  Reply with Quote
Hi,

I need advice please. I am with credit fix. I am now this year approaching the end of my 5 year term.

I used debt camels calculator on a house value (using zoopla) of comparable properties on a market value of 140, 000. The shared mortgage is for 119, 000, and the IVA is in my name only.

Debt camel on these figures are saying there is no equity, however creditfix are. I asked Credit fix to provide me with a calculation of how they are calculating this?
Any advice most appreciated
Thanks

IVA Adviser
IVA Expert



805 Posts

Posted - 01 Aug 2020 :  07:37:31  Show Profile  Reply with Quote
Hi Stevieboyz,

The first thing here is to know exactly what the equity release clause in your IVA says. These clauses vary. If you don't have a copy of the document ask your supervisor to provide you with one.

The second thing is to check with your supervisor what valuation they have put on your home.

With this information, and the information you have already requested, you'll be in a position to identify any areas of difference between what you're reading on the calculator that you mention versus the position that your IVA supervisor is taking.


I am a professionally qualified debt adviser. To contact me about starting a IVA please:?      
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