Hello,
This is a bit long, but bear with me.
Like a lot of you, my IVA was transferred from PJG to Creditfix.
I never had any issues with PJG and always found them very helpful.
Things couldn't be more different with Creditfix!
At my last annual review, PJG (Mel) told me that I was entitled to keep 50% of a PPI claim. This totalled approx. £800. This was written in the review letter that I received from Mel. Unfortunately, my review coincided with the move to Creditfix (CF). When I contacted PJG about this, I was told that my case had now gone to CF, and I should speak to them about it. This was in November last year.
Since then I have been trying in vain to get CF to answer my query and get my £800 from them. Due to this ongoing issue, I told CF, in writing, that I would not be signing their T&C's. CF have never questioned this.
Today, I finally got a reply from CF about my PPI money: here it is;
Dear XXXXX
I sincerely apologise for the delay in response to your query.
I have reviewed your case and I can advise you of the following:
The agreement regarding the distribution of PPI funds has not been ratified by the creditors. The purpose of the Mass Variation Meeting (MVM) is to clarify and obtain ratification from the creditors, as we do not believe the supervisor has discretion on this matter.
The resolution regarding the distribution of PPI funds states that ‘The debtor be authorised to claim 50% of the net realisations after costs from mis-sold PPI during the course of the IVA’ which is the way PJG proposed to distribute PPI funds.
I regret to inform you that without agreement to the Mass Variation Meeting we cannot refund any PPI funds because PJG did not ratify this amendment to your arrangement with your creditors. However, if you do agree to the MVM, and provided that a majority of your creditors accept the corresponding resolutions, there is still a chance that you may be able to obtain a refund on the PPI funds received.
There are other resolutions included in the Mass Variation document, if you wish to discuss this further I would be happy to go through them with you.
Kind regards
Teala Elsy
Creditfix Ltd
4 West Regent Street
Glasgow
G2 1RW
As you can imagine, I am absolutely furious about this.
From this email, it would appear that CF are saying they will not give me my PPI money unless I agree to their T&Cs. I hate to use the phrase, but this seems to be blackmail.
From my perspective, CF are wrongly withholding this money from me. Mel has stated in writing that I am entitled to keep 50%, so, as my T&Cs have not changed, CF should now give me that money.
Someone from CF is supposed to be calling me about this later today....I shall not be holding my breath.
Your thoughts, comments and observations would be most welcome.
