Hi. I have just entered year 4 of my IVA. Unfortunately it was passed over to Creditfix at the end of last year. I have submitted a request for a variation to terminate early by injection of a 3rd party lump sum - according to terms and conditions they should call a creditors meeting within 21 days - it is now almost 1.5 months since I sent the variation. IN the meantime Creditfix have sent a variation including an increased fee and something to do with PPI and they are saying they cannot call a creditors meeting until they have held a Mass Variation Meeting with PJG creditors. Apparently this meeting was adjourned but I dont know what this means. I did not agree to these new terms as my intention was to terminate my agreement early. Any advice please? I just want to end my IVA now and I'm getting increasingly frustrated by lack of progress since almost 2 months have passed and my original offer is now out of date since i have now paid another 2 monthly payments.
CF have pushed through a lot of F&F offers and this has been one of their success stories.
Continue to push.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
I am also confused as I have not heard whether they received the increased fees. I know other firms [including us!] would be very annoyed to find that a competitor is effectively being subsidised by creditors and thereby risking the future of the smaller independent companies.
There has been speculation that this is the long term aim but I would not be that cynical.
Plus its not just PJG - there are at least 2 other companies they took on.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
