Hi
I've been in an iva for past four years with simple debt solutions paying £470 per month. Now I've received a letter from creditfix saying they have taken over I have had no communication from simple debt to say they are passing it on I've no idea who creditfix are. I want some advice as im struggling to keep up the payments its like paying another mortgage. I did try to get the payment reduced with simple debt but they were having none of it. Can I cancel the iva and go onto a debt repayment plan for the next 11 months
Hi. Creditfix are a large company who appear to be buying caseloads at the moment. Industry etiquette demands that these transfers are not made public until after the event.
Allowing the IVA to fail now (which is how they are cancelled) will leave you with much more than the 11 months payments to make up. You still owe the full original debt plus fees and the creditors will add back the last 4 years interest.
Creditfix mat well consider a reduction in payment, according to the circumstances, where Simple Debt would not -- always worth an ask.
To be this close to the end and flushing the last 4 years down the toilet would not, in my opinion, be a good move.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
