I am in a iva with dfd and am paying reduced payments at the moment due to my wife been on long term sick leave from work.i have been in constant touch with dfd and at no time until this morning did they tell me that once my account is 3 months in arrears they will issue a notice of breach and fail the iva.how can this be right we just seem to be getting conflicting info from them and when I ask to speak to our ip I get told that the advisors speak for them
Last edited by glassman49 on Wed Sep 17, 2014 12:40 pm, edited 1 time in total.
They may have to issue a notice of breach but this can be corrected by holding another meeting of creditors. This would allow reduced payments or even a payment break and should not lead to failure.
hi for some reason the title of this thread says payplan but my iva is with dfd.my issue is that when I spoke to dfd in may this year to inform them of my wifes illness and being unable to work they granted 1 months reduced payment with the rest of the payment added onto our last payment in October next.i then phoned and emailed them to let them know that I would not be able to continue with my contractual payment of £794pm but could pay them £450pm wich they accepted and said that the account would fall into arrears but did not mention a breach been issued or anything about failing the iva.i spoke to them this morning(eventually after been in a que for 21mins)the lady I spoke too seemed as though she couldn't really bothered about anything I had to say until I told her I would stop paying them anything and use the money to go bankrupt at which point I seemed to get her intrest.i asked to speak to my ip and she said she speaks for her I then asked her If they are going to fail the iva what is the point in me giving them any more money she then said there is not much chance of the creditors failing the iva because we have been paying for over 4 years and our conduct has been good so as you can imagine I am quite confused at the moment.
Your case needs a variation and I see no reason for creditors to refuse a reduction in payments especially since you have been paying for so long. Hopefully DFD can call the variation quickly to put your mind at ease but there should be no chance of the IVA failing.
Hi Glassman 49
Please drop me an email (address is in my profile), with all your contact details and I will get in touch to discuss your issue further.
Look forward to speaking to you soon.
Regards
Dfd have not given you conflicting info.But incomplete info more like.3 months in arrears will trigger breach and like loans and even with mortgages before the financial crises.
Now creditors will work with you on loans in arrears and with ivas creditors will also work with you.
No worries....
Any monies arrears is now the norm and creditors are adjusting to this and as accomdating as they ever have been to consumers.
7 year dmp/iva is even accepted now.
Last edited by TzeKin on Wed Sep 17, 2014 4:44 pm, edited 1 time in total.
Hi glassman49
Please drop me an email (address is in my profile), with all your contact details and I will get in touch to discuss your issue further.
Look forward to speaking to you soon.
Regards
