Is there anyway we can appeal Cleardebts decision to refer us to GF for secured borrowing ?

[Jeandd62]

We have to contact CD first and they "arrange" an appointment for us with Gateway. I've done the same as you, MikeyM and googled Gateway, but all we know is that the company are called Gateway and nothing else. I have it in an e-mail from David Mond that neither he, nor CD receives commission from this Gateway place.

[lifenoteasy]

Strictly correct but not strictly 100% the full information in terms of relationship to them.

[relieved33]

According to companycheck.co.uk, David Mond is a director of Gateway2finance unless I have entered or read it wrong. I stand to be corrected.

[kallis3]

Depends on whether it is Gateway or Gateway2Finance. Mr Mond is a director on the second but not the first one.

[relieved33]

Gateway2Finance specialise in subprime lending so it may just be a coincidence. . .

[relieved33]

I think lifenoteasy and longslog have turned me to the cynical side!

[kallis3]

It may be - I am sure he will come back on and tell us.

[lifenoteasy]

http://www.cleardebtgroup.co.uk/

Enjoy.

[kallis3]

Am I missing something here? I've just checked on the website and can find no details for Gateway.

[lifenoteasy]

Read the last set of accounts and who CDG owns etc.

Gateway isnt included but once you understand the accounts you get a good picture of some things.

[kallis3]

Me and accounts don't get on at all!!

[longslog101]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade> if we provide another quote from a broker that we are unable to obtain a mortgage, as it states in our agreement, that this will suffice and we will continue to pay for the next 7 months to completion of our 6th year?
Not necessarily, as more organisations are becoming available to insolvent applicants, it should include exploring all avenues of releasing funds from your property. So this is not limited to mortgage brokers or high street lenders that you have contacted but any organisation that we are aware of can assist.

can I simply say - what a load of boll***s. it doesn't matter what is happening these days or in ten years time, if your agreement says all you have to do is "Re-mortgage" then that is all you have to do, if your terms of agreement don't say that then please please don't be bullied into contacting gateway finance (who by the information provided are anything but independent to cleardebt !)

PLEASE PLEASE PLEASE I implore you to take your "written agreement" down the citizens advixe burease and get their view on :

1 if you have to take anything other than a remortgage.
2. if you were advised to sign new terms if the implications of these terms were not made clear to you can they be enforced.
3. what the FSA view would be on you having to commit/sign new financial terms without key facts documents and proper financial advise.
4. please file a complaint with the government gateway service Re this insolvency practitioner..
5. finally, if this would tie you into something for a decade rather than just 4 more months it might be worth spending a few hundred to get a specialised solicitor to take this on for you, maybe some people here will have a recommendation, because as far as in concerned this sounds like exploitation/robbery without the balaclava and knife but by threat if breach instead.

PLEASE PLEASE PLEASE asvise them there will be a delay whilst you seek professional legal advice, don't just cave.

[longslog101]

ps what you want exactly from mr mond is the exact section & wording of your agreement that states you must do things other than just attempt a remortgage in lieu of the 12 month extension.

if he provides it, great, you and your solicitors can indeed check it is what your agreement says, if they provide some variation that you signed that implies it, your representatives can check that the proper compliance/ procedures were carried out to make that a legally enforceable change to your agreement, big financial changes come with so much red tape compliance it is out of this world, ask any financial advisor.

Any waffle about well these days it's the norm or the new protocols say bal bla bla is not conclusive.

[kallis3]

As far as solicitors are concerned, Lisa Thomas the IP who posts on here, knows some and she might be able to point you in the right direction.

Give her a ring tomorrow.

[Jeandd62]

Once again, thank you so much all, especially longslog for the guidance. FYI, David Mond has told us that the exact breach (which is section 4.6a) should we not comply would be on the receipt of sums in lieu of equity section (which is in section 4.6). The wording of this reads exactly: I will complete the re-mortgage by the end of the IVA term. The whole of the net proceeds after settling existing secured liabilities must be immediately paid into the arrangement. If I cannot get a new mortgage, this will not be viewed as a failure to comply with the terms of the arrangement. My Supervisor will then be able to choose whether to accept any other proposals, including:
4.6a - an amount from a third party that is equivalent to the value of my share of the equity that would have been released as indicated in paragraph 4.2hereof; or
4.6b - a maximum of 12 monthly contributions beyond the 60 month term at the same level as paid in the fifth year of the arrangement.
Paragraph 4.2 details our property, the outstanding secured debt and the month 54 details. There has been no variations, this was in the original March 2010 agreement. I've already queried their interpretation of third party, to be told; "Third party’ is any person(s) or organisation(s) able to provide assistance to fulfil your IVA obligations". All of the other paragraphs refer to either mortgage or re-mortgage, nothing about a secured loan.