CREDIT FIX WANT ME TO SIGN THIS

[Jo.58]

Yes I get what you mean now, we did have a joint overdraft that was included in his iva but I ended up paying it all off, I had forgotten about it as it was at the beginning of the iva and the bank account is now closed #128522;

[Michael Peoples]

You should claim in your husband's IVA for the joint debt you cleared. Speak to your husband's IVA firm and submit the details of the payments.

[Jo.58]

Didn't realise I could do that Michael, it's was just under £800 I ended up clearing the debt in the 1st year and never mentioned it to Mel's team at the time. The claim is still showing on the annual report so guess I should tell them

[Jo.58]

But thinking about it would more go to the other 2 debts now that one has been cleared?

[hubert]

Hi,

Search the forum for the term "subrogation".

This is where a joint debt exists and one person not in the IVA clears it all.

The person who cleared the debt, under the law of equity, is entitled to claim 50% of it back via the IVA.

This person then becomes a creditor and can attend meetings and vote on variations I believe.

There are posts on it with more details on this forum.

[Jo.58]

Oh really I didn't know that, thanks I will take a look, didn't even think about it to be honest I just paid it

[andrewf]

The only thing in life that is guaranteed NEVER to change... Is the fact that there WILL ALWAYS be change.

I understand in a way, people might want assurance and might want to contact creditfix with calls and emails, but to be honest, I had no intention of contacting PJG in advance of the next annual review unless my circumstance changed, so I have no intention of spending all day and night on the phone the creditfix burning out the switch board, looking to pick faults between people brought in to respond to the abnormally high volume of calls.

Being one of the 900, I honestly don't know what to think. Suppose everyone has a unique set of circumstances and should tailor their approach depending on their circumstance (maybe)?[8][xx(][?].

The whole process to date seems OK. I was sent a letter saying that creditfix was taking over, followed by a phone call telling me there would be no change to me or how I pay, and that an email would follow. Now I have received the email and they are asking me to agree to the proposal (on the whole) asking creditors for more money. WHY WOULDNT THEY TRY FOR MORE???

Today I have come on and actually took the time to read the 120+ posts since yesterday. I have now been thru the emotional rollercoaster as others have, and have learnt along the way almost all the answers to my questions.

Thanks all for your indirect help, and will be back on here once I pull out my IVA terms and check them against what they are asking from me now.

My only personal concerns at the minute are that I was very much on the border line with Mel if I could afford to make sufficient repayments thru an IVA.

I think it's about 9-10p in the £, (NOT 100p, WTF?). If the banks are going to consider it case by case, I don't think they will accept a reduced payback amount from me, so could my IVA be made default by me asking thru creditfix to repay a unaccepable amount????? (by me agreeing to the terms)

The other MAIN THING TALKED ABOUT ON THIS THREAD is increasing the term? follow the link below, but in summary, the length of an IVA is 'when all the sums set out in the proposal are paid'. (not sure how this works with estimated sums of money?)

https://www.gov.uk/government/uploads/s ... ruptcy.doc

[andrewf]

How can they make it any worse??? 1 wage to feed 2 adults 1 studant and 2 childern is all I have, dont get a massive amount (30k).

all of us in a 2 bedroom ex-council house that we have about 15k negitive equity on. no family living near. stuck in a place we dont know anyone.

LIVING THE DREAM, hope creditfix dont spoil things!!!

starting to think a few month in jail, for fraud or theft would have been better than this....[V][V][V]

[ivamess]

All you need to do is to not sign anything you don't want to sign. The terms of the original IVA apply, and therefore if you don't sign you won't have to worry about any changes. The IVA will run its course as agreed.
Of course, if there is something in it for you then sign!

[ridingthestorm]

Well said ivamess ! And that basicly sums it up. They can't make you and that's fact. They may throw in a little about if you don't sign then there could be issues further down the line (really) lol but that's possibly a little scare mongering.