I am aware that speculation does none of us any good but it's human nature to be worried about change, especially when you find out about it indirectly, rather than from the official source.
I am very worried -we have paid 66 months of a 6 year iva and have gathered together house valuations and mortgage redemption statements as instructed. These are now ready to be submitted but who do I submit them to as I've had no formal communication? If I don't submit them till I hear something will I be in trouble for not sending them in on time? Surprisingly I do have equity in my home so was expecting to continue for a further 12 month as no-one will give us a mortgage but will this new company be one of those who try to bully you into a secured loan instead? Obviously I'm very stressed over this, we've made every payment to date, had no payment breaks and have paid significant extra money as hubby has done overtime and I am now suffering some health issues - nothing serious - but made worse by the current situation I find myself in. All I want is for this to be over and finished so I can try to rebuild my life but now, on the final furlong, I am very worried and concerned that it will all go badly wrong. I understand changes happen but I also have to say I am really very cross about all my very private information being sold off to someone I haven't chosen to trust with it and without my knowledge. At no point have I been told this might happen.
My severe depression is coming back fast with all of this hanging over us.
While I feel sure Melanie is not making this decision lightly I do think that it's us, who entrusted rebuilding our futures to her company, who have the most at stake here.
Hi Pap. I fully understand where you are coming from. These procedures have been put in place by under the Insolvency Regulations to cover the change of IP, for whatever reason, and must be adhered to.
I understand that you should be getting a letter in the next few days.
Creditfix will have to adhere to the terms and conditions in your agreement and cannot change those terms without your agreement.
If they attempt to persuade you to take a secured loan contrary to your terms you are entitled to refuse. Other companies have tried this and been resisted.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
My husband and I have also had our IVA's transfered to Creditfix. We are in the middle of sending documents for our fourth review and are unsure who to send the remainder of the documents to. Does anyone have an email for Sue Clay as our contact at PJG has left.
Must admit to being shocked by this news and worried for those affected. Even if the new company turns out to be ok, the uncertainty and stress this causes is an unnecessary stress and trauma for people.
It would be nice to think that the decision made on the successor company is made on the "right grounds" but as someone involved in business it normal boils down to who will pay the most... and those who pay the most will want to get that money back somehow.
Andy Davie, talks about large companies and the economies of scale they can lever but the witnessed reality we have seen on this forum is one of understaffed, overburdened operators with very poor customer service. We have seen them trying to milk customers for more money, with extensions, secured loans, variable equity calculations, stringent reviews, I even had my company looking to switch all my bills to free up more disposal income.
I really hope it works out ok for everyone but I see this whole industry becoming just huge processing factory with volumes being the primary target, and no consideration for the individual.
I have been with Mel since July and went with her because of Mel and Mel only. The personal touch, the realistic I and E and at the moment it's working for me really well. I don't want to have to go through all that again, if this new company starts to do some of the things mentioned above I think I would rather just lose my house and go bankrupt rather than be scrutinised over every single penny. Finding out on an Internet forum is poor very poor.
Yes, Mole. I so agree. It feels as if we have merely been sold to the highest bidder, and I see harder times ahead. Finding out from a public forum rather than one's IP is the most unprofessional thing I can think of.
There is NO WAY that some giant mincing machine processing people from one end to the other is going to have a personal touch. I have had my IVA sold off with nobody telling me and that my private information is up for grabs. Especially as my IVA is only six months old and this MUST have been known about before and was kept from me when I signed up and, had I known I would have gone for another company. This makes me feel that I was added to the PJG numbers to boost the sale.
The secrecy that this is all couched in leads to massive mistrust and fear. I feel depressed and hopeless because I am not daft enough to believe that such a large company is going to give a second's thought to the people from whom it is making a ton of money. I know how large companies treat clients. They are just money making fodder.
We were with cleardebt who are quite a big company and have always found them helpful and attentive. We had several family dramas during the iva, needed to made reduced payments and take payment breaks.
I too would be nervous. A downside to the mass social media today is that miscommunication is rife.
I have been in and out of the forum for almost 6 years and cannot remember negative comments about credit fix. It really is a wait and see situation which I appreciate is awful for those who are directly involved.
So 31/10/14 is a day I've been waiting for since my IVA began in 2009. It always seemed unlikely we'd have equity so this is the day the final payment is due. It was confirmed in May there was no equity to release and PJG told me I'd have my final review in October and that would be it.
So three days to go and what a mess! I've been chasing all month and had no response to why I've not had my final review. Having read the news on here at the weekend i called PJG hoping as I was so close to the end I might not have been transferred. Unfortunately I have and I'm now stuck in limbo and all the fear of day 1 is back, PJG won't talk to me because has been transferred and after queuing for 15 mins Creditfix couldn't talk to me because they don't have my details, great.
Creditfix did say they up to 6 months to close my IVA is this true?
Hi Why Me. 6 months is the standard time usually "built in" to the IVA term required for administration of the completion formalities. Many firms do this a lot faster (some a lot slower!). If they are saying up to 6 months at least they are aiming to remain within usual limits -- let's hope they can stick to it.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Having only been in mine for 3 months surely someone would have known? Given the choice I wouldn't have gone with a company like CreditFix in a million years.
Blimey, this is not good at all. I've been with PJG since 2009 and had a F&F variation accepted on Oct 13th, I've paid the money over and received a letter acknowledging it so I really hope I have just scraped in and that the messy business of closure is not sold on???
IVA Accepted - Sep 2009
F&F Accepted - Oct 2014
CC Received - Jul 2015
Hmmm now I'm confused, when I called PJG this morning she didn't even take my name just said all IVA's where transferred. Might explain why Creditfix couldn't find my details. Might drop Mel an email.
