www.iva.co.uk

Hi, Here's an update on our situation since being transferred from PJG. I have emailed 3 times about my annual review that was due in October. Today we got a letter with a copy of our annual report. Our original dividend was 21p in the £. At our last review we had upped it to 39p through uplift payments and pay rises and we were really proud of that. Our report shows we are not in arrears (never have been), the original dividend was 21p and the dividend at the end of the IVA (next October) is now only 4.6p due to an increase in disbursements!! Obviously I called them and gave them what for (as we do not want our creditors to get that little) and they said it was because the PJG files were such a mess and it should be resolved to around 26p by the next annual review - which is still wrong! I was trying to stay positive about this transfer, but now I can't be, and I am gutted that PJG have done this. And to top it all off, we still don't know when our annual review will be and when I asked about our house valuation I was told it would be next November when the IVA is due to end. I said that the paperwork shows month 54 which is next April and then I was then cut off! Thanks PJG for this stress - We went to that firm because of their reputation and have been left with this mess!

This seems to be a very high increase in disbursements and may have nothing to do with PJG. This could be something simple such as the disbursements include dividends paid to date but I am only guessing.

Your annual review must be done within two months of the anniversary so CF have until the end of this month or early January to complete it. Your equity review must be done in month 54 so go ahead and get the valuation and mortgage redemption figure yourself at this time and at least you will have complied with the terms.

Hopefully when the annual report is completed these issues will be clarified as I really do doubt if the PJG files were anything other than perfect when passed over and certainly not in a mess.

I appreciate this is stressful but try and comply with your obligations and hopefully you will be debt free next Christmas [or the one after if there is an equity extension].

I can only echo what Michael has said above.

The supposed mess is purely because the PJG system is different to CF's system ( as indicated by the changes proposed to terms)and CF staff have to think outside of their own box for a while.