We are all afraid of the unknown. But there are a lot of us in the same boat.
I can't see any IVA company scrutinising bank statements and triumphantly declaring you've spent less on toilet roll than estimated so your payment is going up.
Even if they did, they could only expect 50% of whatever new surplus they found according to PJG's T&Cs.
T&Cs from PJG also state you will be expected to provide evidence of INCREASES in expenditure, therefore not any that you are stating remain the same.
Also guys, I&E is an estimate at best. If you put down that you spend £10 on hairdressing but during the year decide you'd rather buy pizza with that money that's your choice.
If an IVA Company does examine bank statements, I can pretty much guarantee they are looking for undeclared income above the windfall or 10/50/50 threshold.
Checking to see if you spent exactly what you predicted every single week would be next to impossible and a huge waste of time and money for them.
Think about it - if I gave you a years worth of my bank statements and my I&E form, how long would it take you validate it? How would you know what £73.23 to Tesco Stores on the 13th of August was for? Or where that £80 cash withdrawal went?
I am concerned about the transfer but also confident that my IVA T&Cs will stand and protect all involved including myself and the creditors.
Any new T&Cs they present are optional. Though I'd be a bit surprised if they did present any.
I recognise posters are concerned about changes but as Foggy rightly says you don't have to sign as he's been a in a very similar position.
A lot are further concerned because Mel and her team were always realistic with budgets and problems that did/may occur when in an IVA. I remember once emailing her at midnight and telling her my washer just went bang, about 10 mins later getting a reply saying buy a new one and send the invoice and deduct from next payment, how will you make this up? I replied with my plan and within 20 mins max it was sorted...not sure creditfix will offer that kind of service! However, I stand to be proven wrong!
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
christ ive spent willy nilly. My bank statements are gonna be torn to shreds on my first review lol.
Besides going by my return email I posted on page 7 , they have confirmed the only change is your IP and the company. No reference to T&C noted. Whether you are expected to believe that or not is down to your own scrutiny.
If I don't stay positive Im gonna slip into depression again. Right now my finances are in order. I can afford gifts for my daughter and pay for a good food shop and pay my rent , bills etc. As mentioned above , just because you have an allocation for fuel or laundry . Doesnt mean you cant walk to work now and again and use it for a crate of beer instead
Last edited by Rickne on Fri Oct 31, 2014 9:10 am, edited 1 time in total.
I agree, for me its the excellent service that I worry will not be matched. I felt safe in the knowledge that if something went wrong I would be able to seek help and get answers straight away. I'm right in the middle of my annual review, and my wages and surplus income have gone down. I was hoping my payment would also go down, as I was paying above my original agreed monthly amount from my proposal. I feel sure it would have been agreed with PJG before my next payment was due, but now I have no idea when that will happen. With the changeover of around 900 accounts, and a delay whilst they are "migrating" as a previous poster said, its bound to get held up.
I had the email from Laura on Tuesday, but have received nothing yet from Creditfix. Have most people had an email of some kind or communication from them?
My husband has had an email from Creditfix but as of yet i am yet to get one, Although Laura did confirm for me last night my IVA has also been taken on by Creditfix.
I guess with the 'migrating' of files etc it may take a while
Last edited by Cariadqueen on Fri Oct 31, 2014 9:25 am, edited 1 time in total.
Had an email yesterday . And had swift customer service response to my questions. No physical mail yet. But it's early days. I'm also a bot relieved this has happened mid year for me as around review time I'd be panicked more.
Rickne - I doubt your bank statements will be torn to shreds. In the normal course of events IP's simply do not have the time to examine these in minute detail. I imagine, with the sudden influx of new cases, that Creditfix will be no different.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
We were never asked for bank statements from Mel and her team, not sure what this companies policies are on that yet!
Me and hubby are due our Annual Review in december, last year by this time we were already asked to produce our i.e, tax return etc but with the migration im guessing we could be looking at a slight delay.
Thank you Cariaqueen, yes I understand there's bound to be delays in the handover process, but just so frustrated that its right in the middle of my annual review and I have quite a few unanswered questions about my circumstances right now! You are lucky to be mid year Rickne!
All I do at present is maintain my monthly spreadsheet PJG sent me to calculate easily any additional payments needed each month should I go into overtime territory. And I keep all my pay slips in pdf format in a handy folder in my drop box account. Which I can then ship off as a package on review day.
Nightmare for you Lou74 for this to happen slap bang in the middle of your review, hope that Creditfix don't keep you waiting to long and you get answers soon x
Thank you. Well I've bitten the bullet and sent them an Email. Wonder how long it will take to get a response. We shall see... Will let you know how I get on. x
"I can confirm that any agreement you had with PJG Recovery will be honoured and stay the same. The only thing changing is your IP, who will now be Chris Parry and the company running your IVA.
We are still in the midst of migrating the PJG files into our system and apologise for any delay. These queries will be passed onto our supervisory department as soon as your case has been fully received."
Obviously I don't have any answers to my queries yet, but such a quick response is hopefully a good sign. Although I did think that the IP was going to be Susan Wriglesworth?
