Frost, DFD cannot change the terms of your proposal without your agreement ... frankly they are trying it on! It is not the first time they have tried to bully a client into accepting a secured loan rather than abiding by the agreement. With that said, all depends upon what your actual agreement says: Do you have the option of a 12 month extension if unable to remortgage ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi Til and Foggy
I am in shock at what Til has explained about the Protocol 2014. we have never had this paperwork. Our IVA states that in year 4/5 we will have to look at a remortgage and if we can't remortgage there could be an extension of 12 months = we always knew we could end up with a 6 year IVA and accepted that. I really do feel we are been bullied hence the subject Can't take anymore. I just feel pushed over the edge. We have done everything to make this IVA run smoothly. I thought the IVA company was there to protect and help us become debt free.
Hi All
I have sent an email to Judith and will let you know how we get on. It is worrying to think what is going on with our IVA and worrying for others reading what is happening. This forum is a godsend to helping people in IVA's. The information and wisdom people have is amazing. I admit I have not used the forum much of late but will be checking in and help others where I can. Thank you to you all
That's explains it, but I can not understand why anybody would want to change to the new IVA 2014 protocol! Good Luck I do hope you get this sorted soon as it is worrying for you and I know how that feels.
Hi, sorry not been on much today but needed to get out and clear my head a bit.
I think it is time to take this matter further. When I researched everything 3 years ago when the business I was a partner in went under I took the advice from DFD to be the best option although I was upset at being told I would take 100% of the debt as my business partner had no assets. Not sure when CVA's came in but it was never mentioned back then. I now feel that they only had the creditors interests and not ours. I know we own the money and have never denied our creditors as much as me and my husband can possibly pay but I never expected the bullying tactics and the way we have been treated. It saddens me to think what others are going through too. I will keep everyone posted as much as I can and hope that by doing so I can help and or protect others too.
Unless the possibility of a secured loan was explained at the start of an IVA and is in the Chairmans report following the creditors meeting I feel that it is totally unfair to subsequently force this route on anyone in an IVA
CVAs have been around since 1986 - but I am not sure how this affects you frost. If you had partnership debts, then both of you are jointly and severally liable for those - unfortunately this is one of the downsides of trading in partnership.
You don't need to either feel or be bullied over this matter. A secured loan is not a re-mortgage and should not be conveyed as one. I'll be interested to see how this actually develops, as I am taking a keen interest into IPs who seem to be pushing secured loans at the moment. They are there to be had, if it suits the debtor, but not to be forced by either the IP or creditors.
Hi All
Just thought I would give a quick update. We have had contact from DFD who have said that they appear to be having difficulty with getting post to us, which we find strange as we always get the letter re the annual review and always got letters when setting up the IVA! We have now received via email our annual reports for the last 2 years. Still waiting to hear about the re-mortgage. I did a google search for prescription glasses and found a company called Perfect Glasses, selected some frames and uploaded my prescription and all at a cost of £25 including postage. They constantly have massive sales and savings going on and the reviews are great
I don't know where we would be if it were not for the advice on this forum.
Thank you to all of you and I will let you all know when we hear about the re-mortgage.
Hi, if you need multiple items on prescription you can pay monthly. My husband pays £10.40 a month pre paid prescription and he is allowed any numbers of item on it. He pays £10.40 a month for 10 months and it covers him for 12 months, so worth it, ask at your local pharmacy or contact the PRESCRIPTION PRICING BUREAU. Hope this helps a bit.
