I personally, would never take anything I read on any internet forum as gospel. I would always want to get the facts from the horses mouth myself. I believe its beneficial to share stories and compare notes with others in a similar position. It can often set your mind at rest if something is bothering you and you can't get an answer from the IP straight away.I would have no other way of doing this in the "real world" The example I gave of knowing to expect a call was very valuable to me!
I'm pretty sure the proposal from CF is 50% of any PPI? In any case, I won't be signing, and I'm sure I have no PPI anyway. I wasn't expecting to get anything in the first place.
Hi Lou74, I thought the same when I read it and called them to ask for clarity. They explained that PJG had advised clients they could keep 50% of any PPI refunded(myself included) and it IS written in as a proposed change in the variation documents, however this is to ask the creditors to agree for this to be honoured. Apparently PJG had no right to offer this as it was outwith their powers. Whether the creditors will agree to this or not is unknown, doubt it though.
Bellie772, Whether creditors have a right to PPI at all has never been tested and this is one reason why many firms are asking clients to sign over rights to alleviate any doubt. nUsually these requests are obfuscated by padding in all sorts of smoke and mirrors as well, in this case, also containing a fee hike for the IP.
I agree that there is a lot of confusion regarding CF, much of it provided by conflicting advice given by CF staff themselves.
Regarding the PPI retention, this is from the actual resolutions proposed (and it could be that these have since been changed):
"3. The debtor be authorised to claim 50% of the net realisations after costs
from mis-sold PPI realised during the course of the IVA."
Last edited by Foggy on Sun Jan 25, 2015 2:43 pm, edited 1 time in total.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I had a PPI claim with Nram which got paid whilst with PJG (Clifford Watts did the work) and I received none of it, it all went in the IVA which I had no problem with.
Just had my phone call about the Ts&Cs.. said I wouldn't be signing as their was no benefit to me. The Creditfix guy went on to tell me I wouldn't get any of my PPI...I said so far as I was aware I didn't have any, and if they found some my creditors were welcome to it...The Creditfix guy said he would put a note on my file saying I did not intend to sign, but that I had also confirmed that I had set up a new Standing Order...
I was NEVER told by PJG/Clifford Watts I could keep 50% of any PPI all I did was agree for them to look into it. FULL STOP and no matter how many times I read the variation proposal from Creditfix all I see is them offering it now IF I sign it (PJG are not mentioned )
As I have said before they are welcome to any PPI if that what it takes to get me through this IVA and I really hope creditfix are ok BUT their staff are not helping the situation by telling us all different things at different times!
Bellie if you read this whole thread it started because I was told yesterday by CREDITFIX that my terms and conditions WERE GOING TO CHANGE ... I argued that this was wrong and I would not sign ... A different person then spoke to someone else at Creditfix who agreed we do not HAVE to sign ... therein lies the suspicion, confusion and maybe panic
I have had 2 calls today from Cf which I have declined to answer as this is a family day for me. I have changed the Standing order and will not be signing the new t & c's. I have emailed them confirming this and very politely declining their offer to change the terms but I m annoyed they are desperate to contact me on a Sunday as it suits them but I am still chasing a response to my email in early Nov to them about my equity issue. I've now only got 3 payments left of my original 6 years so would really like to know what's happening. Being hounded on a Sunday leaves me back where I was in the early days, being chased by creditors. This iva was supposed to stop such harassment.
Totally agree with you there pap, I am still chasing my annual review from October, plus a list of queries that I have yet to get a response to. I do actually believe my payment should be less than it is now which makes it even more frustrating. I wish they could put the man hours they have put into chasing and harassing people at a weekend into sorting out mine and others ongoing issues.
Just to say aswell, this whole thing about pjg telling us we could have half the ppi is news to me too. As others have said, I agreed to let CW look into it, but didn't expect to get anything anyway. It's CF that have been first to mention the 50% business. Mel and CW are still looking into my ppi anyway, so I won't be signing as there's no reason for me too.
