I am 2 years + into an iva, and am under a great deal of pressure from DFD to complete a ppi release for EIF. I have expressed my concern over there rates which would cost over 50%. I feel that there are using my situation to make high profits for themselves. Am I under any obligation to allow them to complete the ppi because of my IVA by DFD
You will need to look at whether you were mis-sold any PPI, either on the debts you included in your IVA or debts which were paid off prior to you entering into the arrangement, but you are under no obligation to use the firm recommended by your IP. 50% does seem a very high commission to be drawing out of a successful claim.
Hi mel, I was also put under alot of pressure to sign the paperwork from eif from debt free. I explained that I know I have never had ppi on my loans and cards. Dfd have now sent a letter stating that by being uncooperative I could be in breech of my agreement with them. I have now signed, just to stop the barrage of phone calls. I expect dfd get some referral fee from eif which is why they push so hard
What's more stressful, living on a budget with a big clock counting down to freedom or not knowing who's going to call you next asking where there money is??
It's not what we do, it's how we deal with it that counts
No, Rob, they probably don't get a referral fee, as such. They do, of course, get 15% Of realisations it that is how they charge their fees (which will be detailed in your paperwork).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
We're with DFD and I refused to sign the power of attorney that the claims company wanted. I felt power of attorney was too great a power to sign away without very good reason!
However I knew I had a legal obligation to establish if any assets such as PPI existed.
Therefore I investigated it all myself and submitted all my claims to DFD (only 1 successful PPI claim from the whole bunch) who then confirmed I have no futher obligations relating to PPI.
It is easy to do it yourself as an alternative to using a claims company.
"Hope is the feeling you have that the feeling you have isn't permanent." - Jean Kerr
IVA approved Aug 2008 - 6 year term - last payment made 6 Oct 2014. CC received 14 Nov 2014.
I'm with DFD and was also put under enormous pressure to sign with EIF. I initially refused and then after continued harassment by both companies, including threats to fail my IVA, I signed. Now 6 months down the line I bitterly regreted it and have since withdrawn my consent for them to act. Ring DFD and tell them you do mot want EIF to act and insist that they log this and inform EIF. You are obliged to claim PPI towards your IVA and will need to appoint your own CMC or do it yourself. I've chosen to do it myself and its quite easy and rather empowering. EIF are a disgrace and DFD even more so for getting into business with them.
