Absolutely furious with DFD, both sides of story

[cj2300]

Hi Melanie,

Was hoping you might come along, can I ask you a couple of questions?

[cj2300]

Ok so here is an update.

I have spoken at length to someone from national debtline today about my stepfather going bankrupt.

They say that it is unlikely he will have any beneficial interest in the house, although the guy I spoke to pointed out that it was down to the official receiver.
I have been pointed in the direction of another company who are bankruptcy experts who will be able to give further advice about the interest in the house so I will contact them asap and hopefully he can go bankrupt and that is half of it sorted out.

Now down to my mums situation. She actually owes in the region of £37000. We are thinking that she may be able to do a full & final IVA. We have been looking at figures and could potentially raise around £15k maybe a little more.
My mum cannot raise any further money on her own home due to her age and the mortgage already outstanding so this would be coming from my sister and myself.
Does anyone have any thoughts on this?

[RHB]

Taking your step dad out of the equation(were they living together in your mums house before they were married btw?) then your mum is not insolvent as her assets are more than her debts.

[cj2300]

Thanks, very helpful

[RHB]

If your step dad went BR (assuming there was no chance of him being entitled to any equity)for his debts could they afford the payments on your mums debts?

[cj2300]

I am not sure, My Mum said my sister had worked out it was £800 per month just for the minimum payments

[Broke of London]

Hi Caroline, does the £37k include the full amount of any joint debts? If your stepfather goes BR your mum will become responsible for the full amount outstanding on any joint debts. As RHB says, your mum isn't technically insolvent so an IVA may not be appropriate, but given her age creditors may accept an offer made directly from yourself or via a debt management company. If there are joint debts involved, it may be worth taking advice on both cases together as you need things sequenced properly to leave your mum in the best possible financial position to enjoy the rest of her retirement. Please don't take this as advice but they are just a few thoughts I had. Hopefully one of the professionals will be along later to advise properly on the update to your case.

[RHB]

If she doesn't start making payments again, then the creditors will start to look at CCJ's & charges against the house. Did the CAB go through all their incomings & outgoings with them?

[cj2300]

Hiya

There are no joint debts and this would just be the debts in my mums name.

I was hoping they would accept the offer and at least they get it up front.

I had been thinking that we should make up the payments that were incomplete to get things back to level

[kallis3]

Can't recommend Declan highly enough - he is excellent on here and will hopefully sort you out.

[MelanieGiles]

Hi Caroline

Sorry to take so long to answer your posts. I'd be happy to try and answer your questions either on or off the forum.

[Declan at DebtFreeDirect]

Hi All
Just to let you know, I have emailed CJ2300 separately with the results of my investigation into this complaint. Having spent all of Friday and the last few days carefully reviewing this case, listening to every call and establishing all the facts with the various people involved, I can categorically state that the facts were not as originally posted. For context there were 16 separate calls over a 1 month period.

Where we have made a mistake, we hold our hands up and ensure we deal with it quickly and efficiently. But if we have acted appropriately and correctly, as is the case here, we should be allowed to set the record straight. The facts are materially different to those posted. I'm satisfied that each of the advisors involved acted appropriately.

I don’t believe it is appropriate to go into the details of the case in-depth on a public forum but we have fed back in detail to CJ2300. But to the central assertion - at no point did any of our advisors suggest that the gentlemen should give up his job.

It's taken a little while to review all the detail but as you can understand, this is a serious matter and before responding, I wanted to be fully satisfied with the findings of this investigation.

Thanks

[MelanieGiles]

Thank you for closing the loop on this one Declan, and I hope that your client is satisfied with the results of your investigation now.

[Shining]

What a great asset to the forum Declan is. x

[Sensible77]

I was pleased to read Declan's post as there are always two sides to every story. People being people, we tend to believe the worst of everything. I hope that anyone who followed this post from the start has also read it until the end.