I have just under 1 year remaining on my 6 year IVA. I am with DFD and recently I have been reading up on things such as how long it takes to get the CC once the IVA is finished.
Now, to be honest, it has left me absolutely terrified. All I am reading is stories of DFD stalling and making excuses. I dont want this to happen to me so I thought it prudent to try and be pro-active.
What can I do now to try and assist DFD in finalizing my IVA? Is it possible for me to check now if all the PPI claims are all sorted and finished etc? If so, who would I ask?
Also, and I should have asked this first really...I recently got a letter through from DFD asking me to sign a change to my IVA agreement.
I am not sure what it is all about but assumed any changes would be for the worse (ever the pessimist).
I spoke to DFD yesterday and they "assured" me there is literally no drawbacks whatsoever to this new arrangement and I should sign it. Is this true?
BTW I am not a homeowner, so I would imagine the secured loan/remortgage thing is not relevant to me thus making this an easier decision?
One last thing, at the end of my IVA term next June, do I have to send anything off? Do I again need to send of 3 months bank statements and payslips etc etc?
Hi Tiva and welcome to the forum. Sorry it has taken 2 days for someone to respond to you on here.
There is definitely no harm in you asking DFD for an update on your projected closure, and the timeline they envisage. With almost a year to run, one would hope that they have the PPI investigation well under way now, but do be careful as to the variation terms you are being asked to accept, as tbere doesn't seem any need for a variation unless something has changed in your own circumstances.
What terms are they suggesting that they now need to introduce, and for what reason?
Hi Tiva, I thought I would answer your post as I'm in the process of finalising my iva. I'm assuming the variation is a deed of assignment? If so, many people are being asked to sign, put simply, it allows closure of your iva, while the PPI investigation continues. If you don't sign, it has been posted here that Dfd will use it as a reason to delay closure. If you decide to sign, which I did, return it recorded delivery and keep that record, as six months later dfd might come back and say they have no record of it, as they did with me. I've had a few frustrating times with Dfd but overall they've been OK. Just keep a record of everything and everyone you talk to nearer the time of completion. I'm not a homeowner, so that made things simpler,well done for seeing it through!
Don't get "talked" into using Equity in Finance to reclaim any PPI for you. They seem to be one of the main reasons why the delays are so long. EiF also charge 35% for the service, there are many other PPI reclamation companies out there that charge much less which would give your creditors a slightly better return.
If you do choose another firm to investigate the PPI for you, be prepared for your IP to resist this, as most firm's - including my own - would rather deal with one firm for the purpose of maintaining control over their cases. You may well be obliged to do a lot of the progress reporting, when there is absolutely nothing for you to gain out of that exercise.
I would go ahead with whoever the IP wants you to as avoiding or using your own firm will probably only delay things. There is no financial benefit to yourself in using another company
Hello tiva,
Please email me (address in my profile) and I will arrange for a member of the Forum Support Team to contact you to discuss your case in further detail.
Kind Regards
Judith
