Well, I got a response that my email has been passed to the compliance team who will contact me to discuss my complaint....not a word about putting my offer to settle though. Not sure why exactly they treat my email as a complaint, I did ask some direct questions that IP should be able to answer if indeed, PP was acting on what was in the proposal and creditors’ feedback. I did raise my concerns about the extension because of the equity as that was the only option presented to me at the time but I feel that if the clause is inoperable, therefore void, then why wasn't my liability changed accordingly. I could be wrong. Also, when the dreaded equity release clause came into force at the beginning of last year, I knew I wouldn't be able to re-mortgage. I was told to obtain 3 sales valuations which were a joke, quite frankly, and as a result to try and sell the flat because on paper it looked like I might raise something like £12K, and this figure was used for provisional F&F offer. When the agent (one of those express estate agents who market the properties at 70% of their estimated value by high street agents) after unsuccessful 4 months of marketing and 2 price reductions, offered a further reduction that if sold, would not have even paid off the mortgage, Pay Plan told me to get 3 re-mortgage refusals (I could have got 303, in fact) which wasn’t difficult. So, after all this pointless saga, they put in motion a variation proposal in August (!) and just told me they would apply for 12 months extension but at slightly reduced monthly payments because my income was lower but it has been lower all throughout 2011. I honestly don’t know why they even bothered with I&E as it certainly wasn’t based on the actual affordability factor. Anyway, I was glad to at least some relief from September but no – PP told me I had to make up 6 months deficit at the old repayments amount. I just don’t understand any of it. The IVA term was supposed to have finished in April 2011. I was still paying in up until August whilst waiting for the new proposal. I was then asked to continue paying because of the alleged shortfall, so what was the point agreeing reduced payments then? It appears I owe Pay Plan about £600 because I couldn’t afford full payments lately, thus accumulated arrears. The case officer called me asking if I can make arrears repayment by card! Is this some kind of a wind up when I’ve communicating with them all along regarding my financial situation? And, when they do chase it’s like 3 emails in succession, followed by 3 identical letters, several SMSs and regular phone calls that I stopped answering. Now, the compliance is looking into all this. Does this mean Pay Plan hasn’t accepted my offer of £1000 to settle, should I ask, or what? I am completely disheartened by the whole experience.
