font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Sonicboom
Thank you Greg we have had a supportive lengthy discussion with Gemma at Creditfix and what a difference a day makes. Our full and final settlement proposal will be put forward without the need to sign new terms and conditions with a creditors meeting set for 20th Feb. Fingers crossed and our thanks to Gemma for listening and her time today.
After seeing this positive post I contacted Greg directly myself. I put forward a full and final offer with PJG in August last year and have been chasing a date for my variation mtg CF since Nov. I have to say I was not pleased with the response:
"I have looked at the forum and I think the client you are referring to had a creditor meeting with PJG and not Creditfix. I have spoken to Gemma who is in charge of creditor meeting team and as said below we are not proposing any variations to creditors until the MVM has been conducted, this is due to variations being rejected aswell"
From reading the thread for this topic this does not seem to be the case at all and I feel somewhat fobbed off!!!
Tillergill. Apart from anything else, have CF said when this mass variation meeting [MVM] will take place? What happens to those in arrears who are trying to settle before default or failure or those with limited timescales? Does this mean that their cases will be held in limbo until CF get everyone to sign their T&Cs as God knows when or if this will happen?
Finally CF are refusing to hold variations due to variations being rejected. Does this mean they have already held variations or not? All seems very confusing.
Yes I completely agree! When will the MVM be??? Or is it just a hoax to buy them more time? CF don't seem to know what they are doing! I haven't received any request regarding new T's & C's but I did receive their 'red letter' and have amended the Standing Order accordingly.
As another transferee from PJG, it seems an utter shambles. I've been trying to get them to put forward a F&F proposal for me on the basis of contributions made to date as I've recently lost my job. My contributions at this point already significantly exceed the sum of all contributions that were agreed when the IVA was accepted, so it seems a reasonable request given that I have no means of continuing to service the IVA.
After weeks of silence and chasing, they requested all paperwork for the last six months, virtually down to any notes left for the bin-man. I sent all the requested information, and after a couple of weeks waiting I'm told that one of the two packages I sent hasn't arrived. I don't believe this for a minute - I suspect it's another delay tactic, or it's lost in the chaos of their organisation.
I've sent them proof of postage, and await the next installment of the great mess that is Creditfix.
Sonicboom good luck with your F&F and to all others keep hounding them. I keep having faith that it will turn out right in the end but in the interim they do need to see this is peoples lives on hold.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hi, we've hit another hurdle with our f&f application. CF have sent out the variations report and we have some concerns over the way it's written.
1/ An internet valuation has been done which shows £3000 equity. When we did our own internet valuation one the highest valuations was showing £4000 in negative equity. We have now arranged to have our local estate agent do one. If CF insist we have this equity how can we be expected to release these funds without getting further into dept as my wife's income has reduced due to health problems (hence the read on for the F&F)
2/ We agreed to a 6 year term as creditors assumed that we would have no equity and in the report it keeps stating "in accordance with the 4th clause of the proposal the debtors have assessed the equity in the property". Should this be amended or are we being picky?
3/ CF have written the wrong current monthly payment on the report which could indicate to creditors that we are under offering in our F&F. Our payments were reduced due my wife reducing her hours at work. This was agreed with PJG.
Getting a local agent is a good idea and beats any internet valuation. However advise the agent what it is for and pay them for their time otherwise they may upvalue to try and get the sale.
I assume you mean the 4th year equity clause which would have been in the proposal but by the sounds of things subsequently modified out at the meeting. If the original agreement was six I see no reason for the equity to be mentioned at all but I do not know your proposal or Chairman's Report.
The variation should show what you are currently paying as otherwise you are correct that creditors are not being told the true picture and could wrongly reject.
