Well they have emailed the variation report this afternoon and I'm not happy with it.
The income and expenditure they have included is nothing like the one we sent them. Our payments where £433 which was our disposable income but I contacted them to take into account my disability eliment of tax credits which they told me they have now done so our new disposable income is £256 and told to hangers our standing order to this. They have put it down as £500.
The house they have put the outstanding mortgage balance but not included the early redemption charge so shows over £3000 less.
They haven't called the offer a full and final offer they have called it a lump sum to settle. Does this mean the same thing or does it need changing as well.
Their fees haven't been reduced even though they are saving 2 years of fees.
Could you advise if any of this is right what they have done. They also haven't included the letter from the 3rd party or us.
I'm going to try and call them in the morning but want to check what I am questioning is right.
The income and expenditure they have included is nothing like the one we sent them. Our payments where £433 which was our disposable income but I contacted them to take into account my disability eliment of tax credits which they told me they have now done so our new disposable income is £256 and told to hangers our standing order to this. They have put it down as £500.
This should be corrected to show the true picture.
The house they have put the outstanding mortgage balance but not included the early redemption charge so shows over £3000 less.
The redemption charges should be included.
They haven't called the offer a full and final offer they have called it a lump sum to settle. Does this mean the same thing or does it need changing as well.
This is OK.
Their fees haven't been reduced even though they are saving 2 years of fees.
Their fees are usually on a percentage basis, so will not be reduced. This is standard.
Could you advise if any of this is right what they have done. They also haven't included the letter from the 3rd party or us.
You can insist that the letter be attached -- at the end of the day this is YOUR offer not theirs!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I called today and explained all the points. She spoke to the variation team & said they hadn't used the latest income and expenditure. I told her we've never had that much disposable income. They are looking at the mortgage again. She said the fees go up every year. I told her they where a lot more than in the original proposal which the creditors made them reduce their original fees.
She has emailed all this to the variations team who are going to look at the points ive made and they may amend it where they think it maybe needed and email it out again for us to agree to.
Well dfd have sent me the new variation report and yet again they haven't done it right.
They still haven't added the redemption charges onto the mortgage amount but have this time miss typed their numbers and got two numbers the wrong way around.
They have added the correct income and expenditure and added nylon further payments will be taken off the offer.
They haven't amended or explained their massive increase in fees which reduced the amount to go to the creditors.
Also the creditors claims have increased from the original proposal which doesn't make sense as all debts where put onto the iva.
They also haven't said they will includethe letters we sent explaining why making the offer.
Looks like another hour trying to get through to them.
We have had our meeting of creditors and pleased to say they have accepted the f&f offer. Told got to wait for the chairman report to sign then they will start closing the iva down.
One question, one of our creditors never voted when we first set up the iva so hasn't had any money. Will they be able to claim anything from us once the iva has completed?
I would like to say a big thank you to all who offered advice. It still doesn't seem real until we have the paperwork in our hands.
Your creditor won't be able to make a claim to you but, just because they didn't vote doesn't mean they won't be paid if they put a claim in to your IP.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Congratulations from me too. Do not worry about a creditor not claiming as they would be bound by the IVA anyway and their share divided among everyone else.
Sent a cheque along with the paperwork we had to sign on 1st July as had to wait for the paperwork. They sent me a letter on the 30th June reminding me to pay.
They signed for the letter on the 3rd July as I posted it signed for. The person who gave us the money has checked their bank and the money had gone out.
Yet I get another letter saying they have been trying to contact me. (Had no phone calls) saying we haven't paid and we will be in breach of the iva.
Are these just automated letters. Can they be that thick and not see they have the money. I tried to call them but after an hour and a half gave up.
They also keep putting the full amount on the paperwork when our terms where payments paid from the offer would be deducted.
DFD are in a bit of a mess at the moment .... I would write this all down and send it to them by recorded delivery. Also mention that you would like to start a formal complaint ( you have to go through this process before you can escalate any problems to their regulators.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Make sure you have all copies of letters and bank statements so, if necessary, you can produce them. Also try to speak to someone higher up in the food chain.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I think you are at the stage of writing and sending it recorded delivery or via an email which you can track being opened.
Hope it is all resolved for you soon.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
