and on the resolutions for consideration .... the debtor be authorised to claim 50% of the net realisations after costs from mis sold ppi realised during the course of the IVA..... This is Creditfix letter nothing to do with PJG
CF can change whatever T&Cs they wish but the PPI issue will need to be agreed with creditors too when they do call their variations. I will be very interested to see what creditors say because I cannot understand why CF clients can keep 50% of any PPI when other firms pass it all on to creditors.
It is the same with the fee increase of over 50%. Why should they get it and other firms who do a professional job do not? This seems very dubious and I would love to know why CF are confident of getting this increase. Have they discussed these changes with TiX, WPM, Max Recovery etc? Have they discussed them with the actual banks themselves? Will this now become the industry norm?
Especially as it states my creditors have provisionally agreed because of the benefits to them? What benefit is there to lose 8% fees? and when did they all meet?
I can see no benefit to creditors from these changes and am amazed that CF are saying creditors have already indicated their acceptance.The banks will lose a fortune but if the changes are across the board then perhaps there may be benefits as IP firms will not be in danger of going bust.
Very friendly, polite and helpful. The person I spoke to completely understood my reasons for not signing the new T&Cs and confirmed there's no obligation to sign them.
The call was for that and also just to confirm the standing order move-over.
Apart from obvious public relations gaffes they seem to be ok as far as my experience takes me.
Overrun and struggling with a big backlog maybe.
Fear of the unknown maybe turning them into ogres in our minds. Resentment at their takeover of our cases making them appear the enemy perhaps.
I don't know... It's all been so unsettling and hard to know what to think. I wish they'd had a presence on here quicker than they did, but at least now they have a voice and ears.
Like everyone else received email not best pleased with the tone of this email, And to add insult to injury I moved approx 4 months ago which Creditfix where made aware of, they sent my lovely red letter to my old address, how incompetent is that. lucky I've got a redirect on but that's not the point. They also tried to ring me today and they rang while I was with family who don't know of my situation, they will supposedly ring me tomorrow. I don't normally complain but Creditfix are a bunch of ......, I just wished we had the choice of who we could be transferred too, I'm only a year in and I've got the next 4 to get through, this is so unfair
I also had a phone call yesterday to confirm that the red envelope had arrived (the day before) and told them that I would be amending my existing standing order as discussed last week by phone. I was pleased to see that the letter was much better worded than the horrid email and you can indeed set up your own arrangements rather than sending your bank details by post which would be a direct debit.
The next part of the phone call was not great as I am not prepared to sign the change the variance form. I am in year 6 due to not being able to remortgage so have 6 capped payments left. Any percentage change would indeed disadvantage my creditors, I have never been mis-sold PPI ( important term mis-sold) and no further reviews are applicable. But despite all the above being discussed and emailed back in January there was still undue pressure from some girl who clearly did not have any knowledge. I am sticking to my guns on this. Let's face it if they didn't need our agreement it would have already happened like the transfer in the first place - so as there is no legal basis for me to sign and no advantage to my creditors or myself - then sign I will not! Its such a shame that my final 6 months looks like it will feel like pre-IVA days stress-wise.
I agree this forum is a lifeline. Especially when no other friends of family are aware of our situation. Its good to come here, compare notes and sound off if necessary! Its been so helpful too. I came on here yesterday to see that people were receiving phone calls, so I let my husband know who was just off to work (they always call his mobile for some reason, and its usually when hes working!) Low and behold, 15 mins later he got the call and was prepared in what to say.I too am hopefully at the end of my iva. I had been bobbing along quite nicely, looking forward to my debt free future, and feeling free and in control for the first time in years. I agree though, anneliss, I'm suddenly feeeling the stress and worry levels returning. At least we can come here to discuss and see how others are doing though. It does look at least, that a couple of people have completed and received their certificates fairly quickly!
I think there is a lot of confusion on here. Maybe calling Creditfix will help answer any questions you have. I did and it certainly put my mind at ease. Reading everyones stories on here isn't helping me one bit and I find one person misunderstanding something, everyone else takes it as definite when not the case. Michael Peoples please be aware it is PJG that had agreed with us that we could keep 50% of the PPI without consulting our creditors, Creditfix are agreeing to pay 10% up to £500 back to us as part of their new proposed variation which I have agreed to, if we had not we would more than likely get nothing.
