www.iva.co.uk

Creditfix have now adjourned meetings with my creditors four times in relation to my significant proposal to close my IVA in its final year with a loan based on the equity from my property secured by The Select Partnership. The proposal would not have been made if there had been any doubt as to it not being accepted. If it had been accepted, I would have closed my IVA four months ago. I have now paid an additional £3,000 into the period where I should be IVA free. At each stage of the process and at each adjournment Creditfix have been evasive and have made error after error. Lat week I questioned in detail their vague answers and eventually was able to clarify that the reason for delay is Creditfix inability to supply the creditors with correct information in relation to their process. This has absolutely nothing to do with the information I have sent to them or indeed the information supplied to them by The Select Partnership. It appears they have introduced forms and a process not previously used within the industry and these appear to have caused confusion with creditors and have not therefore provided the information required. Creditifix have not been transparent about this and have provided me with a long list of reasons that just did not make sense, hence my determination to get to the truth. I am sure I am not alone in this appalling treatment. I think they are of the view that the vulnerability of their customers means that we will not challenge them and that they can avoid taking professional responsibility for this. In my case I do not even have a date for the next meeting. Can anyone advise me how to take this issue to a regulatory body or who would be best to legally challenge this situation?

No -- you are not alone. Credit Fix have, apprently, halted all variations due to creditors being unhappy with their paperwork (at least this is what they have told at least one poster here).

My suggestion that they proceed using the already agreed framework while they sort out changes away from live cases was not understood when passed on to them !
Unfortunately, IPs and Insolvency firms are pretty much fireproof (something I tried to raise a petition against, but found little support). The Financial Ombudsman says IVA's are outside of his remit, which leaves only internal complaints and complaints to their regulatory bodies via the Government Gateway: https://www.gov.uk/complain-about-insol ... actitioner

Unfortunately the regulators will not intervene in the actual conduct of the case, but will only offer a slapped wrist or a fine against the IP. Some of these fines, however, can be quite hefty, so the threat, when mentioned in an internal complaint, sometimes does the trick.

When I challenged the Customer Sercives department as the Resolutions department are not clear language wise nor technical wise I was told
1. That the CS department can’t help me as they don’t know so If i can’t understand the resolutions department then there’s nothing they can do.
2. Not to be cheeky
3. The manager FINALLY told me that the problem is CF are providing too much information and that’s why the other party isn’t happy and it could take days or months to rectify.

Nikl wrote:

When I challenged the Customer Sercives department as the Resolutions department are not clear language wise nor technical wise I was told
1. That the CS department can’t help me as they don’t know so If i can’t understand the resolutions department then there’s nothing they can do.
2. Not to be cheeky
3. The manager FINALLY told me that the problem is CF are providing too much information and that’s why the other party isn’t happy and it could take days or months to rectify.

Absolute BS from CF's flying monkeys!

You are not alone.
I have had a loan good to go since April via Select Partnership to emd IVA.
We made our 60th payment in june and we have also had meetings adjourned at least 4 times if not more-ive lost count. Theyve now pulled the case completely while they sort out this paperwork issues theyve got.
Ive been told it affects about 700 cases.
I have had evasive answers. Delay in keeping me informed despite them telling Select the day things happened. Different teams telling me different stories and giving different advice.
I have refused to pay anything else into the iva after our 60'paymentbwas made because i have made all contracted payments, theu do not require any further funds from me until they devide whether they will/will not accept loan.
If carry on paying they could delay and delay getting more and more money yet still want the full original amount loan. Its a con.
I have had it in writing more than once that I do not need to make any more contributions so im just waiting for them to sort their issues out with creditors then they say they will repropose my case.
I have told them I am making a formal complaint so suggest we all
do so.
They wont present current cases on old accepted paperwork while new paperwork gets agreed, theyve just put ALL cases on hold. They dont seem to realise the impact this has on us as a client. But they have never been client centred and dont seem to understand their own processes or IVA t&c's.
They dont like conflict and dont like customers having a firm understanding of the t&c's.
You are definately not alone in this complete tits up situation.
Ive been angry but past caring now and letting them sort it out. My
loan is still there for them so just got to sort out the wording on a letter!!!! Im refusing to pay them anything else until i know if they want 12 months extension or he considerable loan I have available!

Foggy wrote:

No -- you are not alone. Credit Fix have, apprently, halted all variations due to creditors being unhappy with their paperwork (at least this is what they have told at least one poster here).

My suggestion that they proceed using the already agreed framework while they sort out changes away from live cases was not understood when passed on to them !
Unfortunately, IPs and Insolvency firms are pretty much fireproof (something I tried to raise a petition against, but found little support). The Financial Ombudsman says IVA's are outside of his remit, which leaves only internal complaints and complaints to their regulatory bodies via the Government Gateway: https://www.gov.uk/complain-about-insol ... actitioner

Unfortunately the regulators will not intervene in the actual conduct of the case, but will only offer a slapped wrist or a fine against the IP. Some of these fines, however, can be quite hefty, so the threat, when mentioned in an internal complaint, sometimes does the trick.

Thank you I will make a formal complain and copy-in their regulator. I will also seek legal advice as they are clearly not fulfilling their part of the agreement, especially as it would now appear that they have suspended the process for at least 700 of their customers.

abbiesmum2003 wrote:

You are not alone.
I have had a loan good to go since April via Select Partnership to emd IVA.
We made our 60th payment in june and we have also had meetings adjourned at least 4 times if not more-ive lost count. Theyve now pulled the case completely while they sort out this paperwork issues theyve got.
Ive been told it affects about 700 cases.
I have had evasive answers. Delay in keeping me informed despite them telling Select the day things happened. Different teams telling me different stories and giving different advice.
I have refused to pay anything else into the iva after our 60'paymentbwas made because i have made all contracted payments, theu do not require any further funds from me until they devide whether they will/will not accept loan.
If carry on paying they could delay and delay getting more and more money yet still want the full original amount loan. Its a con.
I have had it in writing more than once that I do not need to make any more contributions so im just waiting for them to sort their issues out with creditors then they say they will repropose my case.
I have told them I am making a formal complaint so suggest we all
do so.
They wont present current cases on old accepted paperwork while new paperwork gets agreed, theyve just put ALL cases on hold. They dont seem to realise the impact this has on us as a client. But they have never been client centred and dont seem to understand their own processes or IVA t&c's.
They dont like conflict and dont like customers having a firm understanding of the t&c's.
You are definately not alone in this complete tits up situation.
Ive been angry but past caring now and letting them sort it out. My
loan is still there for them so just got to sort out the wording on a letter!!!! Im refusing to pay them anything else until i know if they want 12 months extension or he considerable loan I have available!

Thank you this is very helpful and certainly mirrors my own experience. I too think the whole thing is a scam. So will now set about the same action as yourself.

They are atrocious as a company and dont seem to understand an iva t&cs! I have challenged them about no emd and they always have to 'check with a manager' even though they claimed to be an assistant manager!
I got a letter about releasing funds for mortgage/equity only 2 weeks before last payment. They threatened me with failure if didnt reply with an offer within 7 days of letter and quoted 'as per your t&c's.... Well i soon replied that THEY should have approached me about this 6 months earlier, not 2 weeks before the end (as per my t&cs!) and if they had any kind of system in place they should know i had done all the equity stuff already! They soon replied that it had been an 'admin error'amd to dismiss the letter!!!
They have no idea what they are doing!
I have emailed David Rankin and surprise surprise i have not had a reply.
Its appalling.

Our IVA ran for 63 months due to an agreed ‘pay holiday’. The final payment was made in September this year. No contact re either remortgaging or ‘extension’ had been made as required by IVA t&c’s. I called end of September, and after our final contracted payment had been made to ask a general question. Only then did they realise that no contact had been made re either the remortgaging or extension. Failing to act in line with your agreement constitues ‘breach of contract’ which I stated to them. In case of a breach of contract the contract is deemed invalid!
Also, according to the document on IVA ‘general rules’ if they wanted to extend it, they have to send you a ‘notice of extension’ detailing its t’c’s AT LEAST A WEEK before the final payment is due.

They have failed to do it.

If you received no communication from them re remortgaging in ‘month 54’ you can challenge them that they were in breach of contract with you.

Check you final year IVA report to creditors re ‘duration of IVA’. And, if you haven’t heard from them re the ‘extension’, and received a detailed written ‘notice of extension’ at least a week before the final payment is made, they cannot be in a position to request extension. Clearly, that can’t be done AFTER the ’contracted payments’ have run out.

The IVA Report to creditors of earlier this year clearly stated it was a ‘63 months IVA’. No indication on intention to extend the arrangement.

We stopped the payments after the final ‘contracted payment’ had been made. They have allegedly called a creditors’ meeting to propose the closing of our IVA. I insisted on attending the meeting which they refused to grant me despite the fact that the docs prepared for that (virtual) meeting said I could request to attend it! Then the meeting was, allegedly, ‘adjourned’. In the meantime, I received an email stating they had ‘added a new creditor who claimed £0.00’ to my file! Two months after we had made our final ‘contracted payment’! And, the creditor we had never heard of!
I emailed to enquire and was told it had to be added for dividend purposes, but would not affect the closing of our file which is in the process of being closed.
Then, two days later I received a phone call re the alleged ‘creditors meeting’. The guy calling from overseas, stated that the ‘creditors wanted us to continue the arrangement’! When challenged to say which one voted for ‘extension’ guess who he said it was! The very same one which had been ‘added’ to our case only a couple of days earlier for ‘dividend purposes’, and who claimed £0.00! I only realised that after the phone call, and when I checked the email talking about that ‘new creditor’!
I told them we had received a confirmation that our IVA was in the process of being closed, and threaten legal action if it’s not sorted out.

I think that a class law suit would be in order against this shambolic company.

Here is a useful document to refer to when communicating and complaining to them, and against them.
https://cleardebt.co.uk/wp-content/uplo ... ne2016.pdf

Hi Shiney. Whilst I agree that CF have numerous shortcomings, as outlined in your post and would be interested to see the result of a class action for these, there are a few errors in your assertions regarding the running of the IVA.

The main thrust of the 'contract' is between the debtor and the creditors, the IP is only bound in as the appointed supervisor. The responsibilities for adhering to terms such as the equity release clauses lie with the debtor ... this has been clouded somewhat by firms such as CF and Aperture stepping in and carrying out valuations etc. off their own backs (and, possibly, re-wording the clauses, I have not seen one of their recently used pro-formas but, when I took out my IVA in 2010, it was common for the clause to be written as "in month 54 the debtor shall .......... ").

If you were to successfully invalidate the IVA for "breach of contract" you would be shooting yourself in the foot and flushing the past 5 or 6 years down the toilet !

As for recourse for damages etc. I have, before, campaigned for some form of mediation / resolution to be available for debtors as, currently, the only recourse we have is to complain to IPs regulatory bodies. The regulatory bodies will not intervene in the running of the arrangement and, if they find in favour of the complainant will only issue a slap on the wrist and, possibly, a monetary fine (which goes into their own coffers and gives nothing to the injured party). However, such campaigning has been met with disinterest.

[quote=Foggy post_id=742637 time=1574629243 user_id=15128]
Hi Shiney. Whilst I agree that CF have numerous shortcomings, as outlined in your post and would be interested to see the result of a class action for these, there are a few errors in your assertions regarding the running of the IVA.

The main thrust of the 'contract' is between the debtor and the creditors, the IP is only bound in as the appointed supervisor. The responsibilities for adhering to terms such as the equity release clauses lie with the debtor ... this has been clouded somewhat by firms such as CF and Aperture stepping in and carrying out valuations etc. off their own backs (and, possibly, re-wording the clauses, I have not seen one of their recently used pro-formas but, when I took out my IVA in 2010, it was common for the clause to be written as "in month 54 [b]the debtor[/b] shall .......... ").

If you were to successfully invalidate the IVA for "breach of contract" you would be shooting yourself in the foot and flushing the past 5 or 6 years down the toilet !

As for recourse for damages etc. I have, before, campaigned for some form of mediation / resolution to be available for debtors as, currently, the only recourse we have is to complain to IPs regulatory bodies. The regulatory bodies will not intervene in the running of the arrangement and, if they find in favour of the complainant will only issue a slap on the wrist and, possibly, a monetary fine (which goes into their own coffers and gives nothing to the injured party). However, such campaigning has been met with disinterest.
[/quote]

The IVA agreement I have with them says ‘In month 54 you will be required...’
That doesn’t sound like an obligation for the debtor.

I wouldn’t agree that the IVA agreement isn’t a contract.
IVA is an agreement made between an IVA company and debtor, and is a form of a contract which sets out duties and responsibilities of the parties to the contract. If the IVA agreement wasn’t a contract then it would be pointless to have an IVA company as a ‘broker’ between the debtors and creditors as each debtor could make the same arrangements with each creditor without giving any money to an IVA company. The debtors would get that money instead.

The ‘IVA general rules’ document also sets out what they should do.
Thus, if an IVA company wants to extend IVA for an additional year an ‘extension notice’ has to be sent at least a week before the final ‘contracted payment’ is made.
It is not possible to extend any arrangement after it’s run its course. So, they can’t seek to extend the arrangement say, a month or two after the final ‘contracted payment’ has been made.

Generally speaking, if suing for breach of contract it doesn’t have to end in contract being invalidated. One could seek damages as remedies.

It is possible to sue for breach of contract six years after the contract is finished. And, that wouldn’t end with contract being invalidated as it had been finished long before then. But, one could seek damages as remedies.

I recently requested a full & final settlement offer to be put forward to my creditors which was due to be discussed at a variation meeting on Thursday. Today, I received an email from one member of staff telling me that the meeting had been adjourned due to a lack of votes and another emailed me to say my offer had been accepted and to make contact to arrange payment. Not seeing the first email I replied to the second member of staff asking if it was ok to call tomorrow to make the payment to which they replied advising me the same as the first member of staff. No apology and explanation as to where there was a lack of votes - very unprofessional!! What's your advice on dealing with this? Should I wait until I have a definite outcome before complaining or should I act now?

If the meeting has been adjourned I would guess that the few votes they do have are not in your favour and that they are trying to canvass other creditors to vote in order to try to get a positive result. That all said I have heard this reason, and variations of this reason, offered as an excuse by CF with different excuses offered by other staff members or on different days. In one particular case it transpired that all the various excuses were fabricated to hide a mess that CF had created themselves by not following historically accepted procedure. I am not saying that this is the case this time, but I would take their excuses with a large ( very large) pinch of salt.

Thanks for your reply Foggy, really appreciate the information.

Try these, they have been having great success on issues that I am aware of

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