Oddbod, do remember we are prepared to let you make the claims, if you undertake the work diligently. Under those circumstances we won't "take a cut".
I don't understand why people object to this claim being made? In almost every case there is no personal benefit for the debtor. and, as the system takes hold, it should result in no undue delays. It is very regrettable, but unavoidable that it has held things back for some.
But that's the thing Andrew, it has been avoidable. But Cleardebt has made it unavoidable for their clients by 'interpreting' the issue as they have.
Other IVA firms haven't taken this heavy handed approach, and have accepted their clients statement that there has been no PPI taken out, so none to be reclaimed. Their IVAs have consequently been completed with none of these delays.
And how would Cleardebt ensure that any claims submitted by the client themselves had been undertaken 'diligently'? This is again, open to the whim of the IP as to how they interpret 'undertaking the work diligently'.
There is a constant moving of the goalposts for Cleardebts clients who are on the final lap of their IVAs.
Hi Andrew! That is an interesting if somewhat unprofessional reply to say the least! Firstly he states that clear debt is convinced!!!! Well no clear debt has to be totally factual within the law! What work are they doing if the claims company is employed to do this job?? Why has he now backed down and agreed to the client doing this themselves? Using words like croppa and gotta in a statement like that is totally unbelievable! Sorry my view only! David Mond needs to actually answer the question that everybody is asking!! Is it legal to tell vulnerable clients that their iva will fail if they do not sign the claim companies paperwork???
I've been following this this thread and I do feel that it's unfair that Cleardebt seem to be taking the brunt of the bad feeling about PPI.
I also don't understand why people seem to have an issue with missold PPI being distributed among their creditors. If PPI has been missold then surely it's only right that it's treated as a windfall.
I am sorry if a little informality in style is seen as unhelpful. That is all it is.
There is significant work involved in providing the information required to enable the claims company to do their job. I've seen it in progress. And, in these circumstances, law is not necessarily entirely a matter of fact. Which is why we are not alone in adopting this policy and why there are other companies that haven't.
What is a fact is that debtors in IVAs are obliged to repay windfalls to their creditors. There is no doubt about that. So, ClearDebt are taking the view that we are protecting the debtor and the insolvency practitioner by adopting this policy.
I don't think we will get an answer on the legality of Cleardebts stance, Franky.
As Cleardebt have already stated, they are interpreting this PPI issue in a different way to some IVA firms, and until a client actually challenges this stance after Cleardebt fails their IVA due to non-compliance over this issue, we won't find out if they are acting legally or not.
I would imagine Cleardebt are assuming no client of theirs will put the completion of their IVA at risk over this issue, and possibly go to great effort and expense in challenging this 'interpretaion' legally.
Lets face it, all of us who've been in that position on the home straight just want to cross the finishing line with the minimum of fuss.
I totally agree, that if PPI has been sold/missold then it is only right that a claim is made to the possible benifit of the creditors within an IVA.
That has never been the issue.
What is the issue is Cleardebts refusal to accept conformation from their clients that they have never taken out PPI so there is no requiement to pursue a claim.
Other IVA providers are happy to accept this assurance, and hence complete IVAs satisfactorily, so why are Cleardebt insisting on their heavy-handed approach?
I'm sorry if it's starting to seem like a Cleardebt witch hunt - that is not my intention. I'm aware of other companies who are taking a similar approach. There are however, many who are not.
I do appreciate Cleardebts contributions to this discussion, however, as with all submissions on a discussion forum, the issues/points raised in their posts are there to be discussed.
Last edited by oddbod on Sat Jun 23, 2012 2:26 pm, edited 1 time in total.
Many people find this forum when they are looking for a debt solution and then choose an IP based on what they see here.
Don't think I have to say anything else....
Last Payment - November 2011 - Completion Certificate received 2 weeks after last payment, Removed from Insolvency Register within 4 weeks after last payment.
Herbekj, I agree that people come here loking for an IP and base their decision on what they see and I hope that people carry on to use cleardebt as they have been above and beyond helpful to us. Any company who posts on here lays itself open for discussion, as others have too and my personal take on this is that everyone who puts themself on here as a professional is just that. If there was anything underhand, they simply would not post. There aer many many people seeking debt solutions who do not have the good fortune to find this web-site prior to making their decisions.
I am sure that people who are at the start of their journey would appreciate the frustration felt by a few clients who, having reached the end and made their final payment, still await a completion certificate.
My understanding is that once your 60 payments have been made that you stop paying irrespective of whether you have received your ompletion certificate or not. Your credit rating is still shot as an IVA stays on your credit file for an additional 12 months anyway.
I too will want the piece of paper in 24 months and one week ([:D]) but I also want the knowledge that I have completed my IVA as I started it - with the desire to pay back all that I could. I am hoping that as I have already received letters from cleardebt regarding this, that my certificate will not be too delayed if it is but above all, I want to know it's been done properly.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by relieved33
Herbekj, My understanding is that once your 60 payments have been made that you stop paying irrespective of whether you have received your ompletion certificate or not. Your credit rating is still shot as an IVA stays on your credit file for an additional 12 months anyway.
Your Credit rating is shot for 6 years from the date the IVA was agreed. My IVA was taken out in January 2006 that is 6 years and 5 months ago and I am still months away from getting a completion certificate and then up to 3 more months until my name drops off the insolvency register!
My Credit rating with Experian is 985 on their score for what that is worth and my credit history is clear as they dropped off at the 6 year mark, but as long as my name is on the Insolvency register I will find it hard to get credit.
When entering the IVA the blurb goes that you pay for 5 years then you owe nothing and can rebuild your credit rating,
In my case it is pay for 5 years – then pay for another year due a variation then wait another 6 to 9 months.
If they had said that at the beginning I may have taken another route!
7 years after starting an IVA I finally received a completion certificate from ClearDebt
I already want ours to be over as quick as possible and still have years to go so I can imagine your frustration.
In our case though we'd have been paying for decades to clear what we owed - our unsecured debt was more than the value of our house, not that I'm at all proud to say that. Even if there's a delay at the end, as much as I don't want it, the bigger picture is better for us.
Let's give Cleardebt some praise for taking time to answer the PPI question, my understanding is that most other companies are doing exactly the same.
I do understand the concerns of posters on here, you just want to have the IVA concluded and it does seem that the goal posts have been moved.
Finally for anyone reading this forum I am happy to state that Cleardebt are, in my view, a highly respected company, as are the other companies that post on here, and that David Mond and his team do alot of work within the industry that benefits the vast majority of people that find themselves in debt.
I am going to wrap this thread up now, although I am sure the PPI debate will surface again, quite rightly
