My last IVA payment made Oct 2014, admist PJG > CF transfer.
I still have not received any paperwk for a final review.
However I have received letter today asking for signing of Resolutions For Consideration.
It does state I would need to sign all considerations in order for closure to happen more on time.How ever they are stating that previously PJG had no agreement with creditors regarding PPI.
Which I find very difficult to believe as I do have a PPI windfall that I am presuming CF are now holding, but I was informed by PJG I would be granted 50 % of this.
Im not sure how to approach this with CF .I understand I need to sign to comply with CF to put to creditors, but will the 23 % affect me somewhat confused.
I received the letter a while ago, I am not signing I am happy with my T& CS. It should not affect your IVA if you don't sign, Clifford Watts (PJG) are still dealing with my PPI, others have said Creditfix are happy with that when told
Surely that is penalising someone/unfair practice to day that the IVA closure will happen more on time? What is it that not signing the T&C will cause to happen to hold up closure?
Not specifically this particlar case but for anyone who hasn't signed.
They cannot "delay" the closure process if you do not sign and this is not what they are saying. What they intimate, however, is that closure will be faster as the PPI problem will have been resolved already. That said, many other firms seem to manage!
In my mind seeking to change terms at this very late stage is more likely to cause delays as, to accommodate the fee hike, dividends to all creditors will need to be recalculated and, presumably, if there is not enough being held in the "pot" to cover the hike and the 50% promised PPI refund, might have to be reclaimed from creditors, which could take forever.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
It is a difficult one to call, to be honest Floss. If you are not close to 100% dividend then the fee hike ( apart from what I have said above, which may or may not happen) will not affect you directly.
I cannot comment on what arrangements, if any, PJG had with creditors regarding the distribution of PPI refunds, but am confident that they would have done everything "by the book". I do not share the same confidence with CF and they show no signs of gaining it yet .. but there is still time. My fear is still that this is not an "all or nothing" set of resolutions --- CF might insist that YOU sign up to all of them, but there is still the chance that it will be modified by creditors to, say, accept the fee hike to CF and reject the promise of 50% PPI refunds being paid to the client. So it is a gamble relying on that particular carrot.
If the fee hike doesn't worry you and you take the view that you are getting none of the PPI ( if you do, in the end, that will be a nice bonus), then there is no harm in signing --- subject, of course, to the other proposed resolutions being acceptable.
It is a matter of public record that I am a "crusty auld sod" and simply refused to sign my proposed changes to Ts&Cs when I was transferred to GT, but I cannot make your decision.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
It will be interesting to see if everyone who chose not to sign gets the "follow up" letter.
And more importantly how they play it if that is ignored, especially as they make a hint that if you don't agree to it then your closure will be far slower (I believe there are specific timeframes that they have to adhere to though)
I'm really confused. I have had a letter asking for me to sign a form and send back. something to do with PPI a few other bits and peices.
My PPI paid out last year and when I spoke to Creditfix was told categorically that PJG should not have told me I would have 50% of this. Now they seem to be changing their mind. To be honest if them keeping the 50% means I am more likely to close in March them I'm all for it but if I'm likely to have to go another year then yes I would like it please.
Am I supposed to sign this letter or not given that I'm supposed to close in March? Also, do I keep paying past March or stop my DD?
Oh and I had a returned paymnent from my bank saying the account has been closed - where am I supposed to pay as CreditFix as usual don't answer emails.
