We have very few complaints regarding either of those companies. McCD operate under the "R3" terms and conditions and FJ use the "Protocol". Both are, basically, pre-agree standard terms and conditions. If you are a homeowner and they use an edition of the Protocol after and including the 2014 version then, on equity release, you will need to consider a secured loan as an option, in addition to remortgage or a 12 month extension. In earlier editions and the R3 terms that McCD currently use, as far as I am aware, the equity release is a remortgage only or the extension. This is a point I would specifically ask of each to get up to the minute information.
Hopefully a few members who use either firm will pop along with specific experiences .............
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I rent privately so don’t have a mortgage to worry about. I do have a HP car agreement which I’m hoping can continue if this was to go ahead.
The HP agreement is secured lending on the car, so you will have to put this to whichever company you decide to go with. It will be an important part of the decision so don't just take someones word for it, get it in writing. Once the HP term ends you will be required to put that monthly amount back into the IVA as an increase in payments.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
I rent privately so don’t have a mortgage to worry about. I do have a HP car agreement which I’m hoping can continue if this was to go ahead.
The HP agreement is secured lending on the car, so you will have to put this to whichever company you decide to go with. It will be an important part of the decision so don't just take someones word for it, get it in writing. Once the HP term ends you will be required to put that monthly amount back into the IVA as an increase in payments.
Hi - yes I’m aware of that - Thankyou - that wouldn’t be a problem paying the extra because I wouldn’t be paying it for the car once it’s all finished.
I’m quite torn about who to go with - I’m going to speak to both on Tuesday
I rent privately so don’t have a mortgage to worry about. I do have a HP car agreement which I’m hoping can continue if this was to go ahead.
The HP agreement is secured lending on the car, so you will have to put this to whichever company you decide to go with. It will be an important part of the decision so don't just take someones word for it, get it in writing. Once the HP term ends you will be required to put that monthly amount back into the IVA as an increase in payments.
Hi - yes I’m aware of that - Thankyou - that wouldn’t be a problem paying the extra because I wouldn’t be paying it for the car once it’s all finished.
I’m quite torn about who to go with - I’m going to speak to both on Tuesday
Ask each specifically how they would deal with the car. Also ask each if, should the need arise, you are ale to speak directly with your supervisor ( the IP ). At the end of the day it will be who you feel more comfortable with.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
MerlinL14 wrote:
The HP agreement is secured lending on the car, so you will have to put this to whichever company you decide to go with. It will be an important part of the decision so don't just take someones word for it, get it in writing. Once the HP term ends you will be required to put that monthly amount back into the IVA as an increase in payments.
Hi - yes I’m aware of that - Thankyou - that wouldn’t be a problem paying the extra because I wouldn’t be paying it for the car once it’s all finished.
I’m quite torn about who to go with - I’m going to speak to both on Tuesday
Ask each specifically how they would deal with the car. Also ask each if, should the need arise, you are ale to speak directly with your supervisor ( the IP ). At the end of the day it will be who you feel more comfortable with.
You've picked a good company who come highly recommended on here. Good luck and let us know how you get on.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
- that wouldn’t be a problem paying the extra because I wouldn’t be paying it for the car once it’s all finished. 
