Any ideas please on the best way forward for us ?

[Michael Peoples]

Have a word with Select and make sure they have all the facts. Ultimately they only report what is available and it is then up to the client and IP to decide whether or not to proceed. I see that Select did suggest borrowing the money from family/ friends rather than taking a secured loan so I do feel they are trying their best for you.

The final decision comes from yourself and DFD based on the terms and conditions of your IVA so speak to your IP too.

[Foggy]

I have seen posts from DFD clients referred to Select where Select have specifically recommended that a secured loan option wasn't in the interests of the client, so I feel confident that they wouldn't force anything on to the client. I feel DFD are the bad boys here, not Select.

I maintain that a secured loan cannot be forced on anyone under protocols prior to the 2014 version. However, some have, in the past, looked at the figures and been happy to go along that route.

Incidentally, when does the current mortgage come to term? As a remortgage cannot go beyond that time and I would think the same should apply to a secured loan, along with the cap on repayments.

[lifenoteasy]

The difficulty is the consent process and Select will have to careful that nothing is perceived to have been undertaken under duress.

Also if they the only game in town the IP will also have to ensure that they do not gain financially from having recommending them (including possibly waiving their fee where equity has been released and paid to creditors).

If they could say here are 3 companies - take your pick it might be a different matter.

[longslog101]

Hi lilac,

You have no need to converse further with select, I agree with foggy, DFD have to demonstrate under what terms you "must" enter this course of action, just simply email back to select saying that until you receive clarification from DFD in writing regarding your IVA you won't be back in touch and will contact them in due course.

Then simply write to DFD IP recorded delivery and ask for the exact terms contained within your IVA agreement which state you must take such lending to satisfy the terms of your IVA and under what grounds they intend to issue a breach if you fail to do this, enclosing copies of the remortgage rejections.

Worth adding you have sought advice on this and await their response with interest to share with your advisors.

Good luck & keep us posted....I agree with foggy, select are juts chasing business, your dispute/uncertainty is with DFD.

[lilaclady2k]

Well I've looked through the our paperwork and It looks like we may have changed to the new policy but we have read our information and we can't see anything that mentions us having to take a secured loan?
My husband recollects we did not have any spare money to go and seek legal advice and he took the word of a DFD advisor, who advised him this was the better solution for us.
Now what do I do....who can I get advice from any ideas? Or are we screwed?

[lilaclady2k]

I wished we had never entered an IVA....from what I'm reading bankruptcy would have been the better option and it would have been done a dusted without all this extra hassle...

If anyone is reading this and considering an IVA please do your research first and don't use the first people like we contacted. We went into this blind and ashamed and thought we was doing right to get us out of this mess...yet we have just dug a deeper hole, thanks to DFD who convinced us they could get us out of debt yet we seemed to be getting into more debt to take on a secured loan for 7 years!!!!

[kallis3]

If you'd got your own property then BR may not have been the right way for you as you could have lost it and, potentially, any equity in it.

[longslog101]

lilac,

I really suggest you raise a complaint, lifenotsoseasy has done a great post here about this:

in this thread: http://www.iva.co.uk/forum/topic.asp?TO ... hichpage=1 at 09:37 on the 30th August.

I think your first step is to write to them explicity asking them to identify the terms of the agreement that allow them to insist on secured loan avenue. (in writing). In the meantime follow lifenotsoeasy post guide, then you know exactly where you stand. armed with that information you can make an informed decision.

Also for reference unless the terms and implications of something were not made very clear to you when it comes to financially related stuff it is possible they will have breached FSA regulations regarding miss-sellling.

I would pop and see the Citizens advice burea, maybe also a free half hour with a solicitor.

There is something called Unfair terms in Consumer contracts, and you cant be held to something if it was not clear what the implications would have been and also the angle if they did not insisit you got advice before signing them (if you have), I don't know if they would apply in such a case if such a firm didn't make it clear what the implications would be of changing your terms, again a solicitor or CAB might be able to help.

https://www.citizensadvice.org.uk/consu ... contracts/

If it was me, the last thing I would do is, just agree and do it, find out where you actually stand by asking them to explicitly provide the details of agreement hat allow this and then move forward (in my unprofessional personal opinion).

[lilaclady2k]

Thanks guys our heads are spinning at the moment to which direction is best...x

[longslog101]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by lilaclady2k

Thanks guys our heads are spinning at the moment to which direction is best...x

best direction is probably the opposite one that dfd want you to take !!

[lilaclady2k]

Hi guys just an update to say select partnership have emailed to say they have now returned our files back to DFD.

Today we have received a letter for our annual review of our income and expenditure from DFD....

I'm not 100% sure what's happening next but I will keep you up dated.

Thank you again for all your support.

P.s. Is there a way to pm someone, without it being posted on here?

[longslog101]

thanks for the update, it's so important to know how these things end up.

unfortunately personal messaging on here doesn't work for span reasons, but some people have a link in their signature to blogs and sometimes you can leave a message or post a reply to a blog that is private.

I'm dead interested to hear how your case pans out and if you get to a point where you can't update here anymore please do reply to my blog (link in my signature). I think your case and a few others on here have been shared with a few interested parties/ organisations !! [:D][8D]

[kallis3]

You can also put a post on asking either Andy Davie or Admin to pass your email address on to another poster.

[lilaclady2k]

Longslog101 I've found your blog so I will be in touch, you were the one I was looking to pm.

Thank you anyway for your support and many thanks for passing my link onto Laura, however if you read my post I've already been corresponding with Laura.

Again longslog101 thank you for your support it is really appreciated and thank you for highlighting our case. As you say maybe it can help others who are to worried or embarrassed to ask for help.

[Michael Peoples]

Glad it seems to have worked out for you but do let us know the final outcome.