www.iva.co.uk

After many adjournments by Creditfix my full and final offer was eventually accepted by Creditors. The Select Partnership, who from the outset have been excellent, now appear to have failed big time. At the point where the lender they had brokered with should have been releasing the money, The Select Partnership informed me that a clause within my Mortgage had caused a conflict with the lender and they were unable to proceed. The Select Partnership said they would find an new lender. Incredibly annoying and frustrating for this to have come to light at this very late stage and feel very let down by The Select Partnership. The countless phone call, copies of documents and waiting for decisions on top of the horrendous delays caused by Creditfix has made the final year of my IVA the most stressful and hideous experience and at no fault of my own. I am now minded to just see out my IVA without any early settlement. I only have 5 months to go due to all the delays. If I decide not to pursue another option with The Select Partner, which will of course mean further delays, would Creditfix just allow me to complete my IVA without using a new early full and final offer, if indeed one can be found by the Select Partnership.? It seems nonsensical to finish with only 6 months left of IVA payments after which I will be totally debt free and without any loan in relation to the final settlement. Even though The Select Partnership appeared to be very service user friendly and competent, at the end of the day they have failed miserably, my advice to anyone is proceed with caution question, question and question again and again.

Disppointing to read your views on Select.
I have been dealing with them since Feb to sort out our equity release to finsih iva and have found them helpful friendly professional and communication brilliant.
Is it Selects fault that this clause has put aspanner in the works?
We made a mistake during ours which neary cost us the secured loan but with explanation and evidence we were able to get things back on track.
No advice about your situation but for other posters i havent had a problem with select in regards our circumstances.
The hassle with CF this year has been beyond ridiculous and like you say not our faultin the slightest but extremly frustating.
Are you with Select for the equity release stuff at the end of your iva?

A very unfortunate set of circumstances, but not the fault of Select. This would have come to light when the new lenders legal team went through the paperwork --- usually left towards the end of the process due to the costs involved. The fault (if any) lies with your current lender for either putting that condition in their mortgage offer at the time, or in refusing to remove the condition now.

Select, for their part, have put in a lot of work for zero return .... I am sure thay are as disappointed as you.

abbiesmum2003 wrote:

Disppointing to read your views on Select.
I have been dealing with them since Feb to sort out our equity release to finsih iva and have found them helpful friendly professional and communication brilliant.
Is it Selects fault that this clause has put aspanner in the works?
We made a mistake during ours which neary cost us the secured loan but with explanation and evidence we were able to get things back on track.
No advice about your situation but for other posters i havent had a problem with select in regards our circumstances.
The hassle with CF this year has been beyond ridiculous and like you say not our faultin the slightest but extremly frustating.
Are you with Select for the equity release stuff at the end of your iva?

I would certainly share your experience in relation to SP and until this situation emerged the only problems I have experienced has been with Creditfix, who are indeed beyond ridiculous as you rightly say. Yes, SP have been dealing with the equity release since February and to have this news at the very final stage of the process is extremely frustrating. Foggy has provided a useful explanation and I will speak too them again next week to see if another lender can be found. I had started think that the situation with Creditfix was a total scam as my IVA should have been closed almost 6 months ago. Due to CF internal failings, I have continued to pay over £600 each month and now, if a new lender is agree, will pay a substantial F&F sum. With only a few more months remaining, I am thinking that it may not be worth pursuing another lender via SP and just letting the full IVA run its course.

Foggy wrote:

A very unfortunate set of circumstances, but not the fault of Select. This would have come to light when the new lenders legal team went through the paperwork --- usually left towards the end of the process due to the costs involved. The fault (if any) lies with your current lender for either putting that condition in their mortgage offer at the time, or in refusing to remove the condition now.

Select, for their part, have put in a lot of work for zero return .... I am sure thay are as disappointed as you.

Thank you for that explanation. When SP informed me they appeared to be taking full responsibility and therefore I interpreted this as such. I will speak to them again next week to see what the situation is with another lender. If I decline this and inform CF that I now wish to let the IVA run its full course, a further 5 months, do they have to accept this or can they insist that I take out the FF loan ? The reason for the delay is clearly with CF and their internal mess.

Wetoo have been going through this since Feb. made our final iva payment in the summer.
I told CF i was fed up with the hassle and wanted to bail out on the equity release F&F and just pay for another year but they wouldnt let us because they amd creditors knew there was the loan available so have had to sit and wait for it to get sorted.
As yours is now technically not available you may have the choice to default back but wouldhave to ask them.
Get anything they say confirmed in writing though as one says one thing and someone else says something different!No consistency at CF and staff seem to hav ea very basis understamding of ivas!!!!
I refused to make any further payments once we had paid up in the summer and I would only restart paying if the F&F got declined. It sounds like its more an issue with your mortgage provider rather than Select. They are only a go between for you, a lender and CF. We have had to jump through no end of hoops to get where we are and had to send so much stuff as evidence of xy and z but select have always kept to their agreement-called when theybsaid they would, and we have maintained contact with just 2 people throughout the whole process unlike with CF!!!
Hopefully this can get sorted out and you can end asap. Never imagined us having another loan but for the puttance we are now paying and being free from iva (once get CC) its worth it. Really didnt want to be tied into iva clauses for another year and then have to go through the hassles of closing next year...who knows what other delays they could cause!

abbiesmum2003 wrote:

Wetoo have been going through this since Feb. made our final iva payment in the summer.
I told CF i was fed up with the hassle and wanted to bail out on the equity release F&F and just pay for another year but they wouldnt let us because they amd creditors knew there was the loan available so have had to sit and wait for it to get sorted.
As yours is now technically not available you may have the choice to default back but wouldhave to ask them.
Get anything they say confirmed in writing though as one says one thing and someone else says something different!No consistency at CF and staff seem to hav ea very basis understamding of ivas!!!!
I refused to make any further payments once we had paid up in the summer and I would only restart paying if the F&F got declined. It sounds like its more an issue with your mortgage provider rather than Select. They are only a go between for you, a lender and CF. We have had to jump through no end of hoops to get where we are and had to send so much stuff as evidence of xy and z but select have always kept to their agreement-called when theybsaid they would, and we have maintained contact with just 2 people throughout the whole process unlike with CF!!!
Hopefully this can get sorted out and you can end asap. Never imagined us having another loan but for the puttance we are now paying and being free from iva (once get CC) its worth it. Really didnt want to be tied into iva clauses for another year and then have to go through the hassles of closing next year...who knows what other delays they could cause!

Thank you and my experience of CF certainly mirrors my own, what a hideous company. Yes you are correct it was an issue with a particular clause on the mortgage that the Lender would not accept. It does not effect me directly but impacts on another lender, so they refused to go ahead. In relation to CF, I've kept records at each stage as, like you, one person says one thing and someone else states something different. They also appear not to communicate between them. I think they are fully aware that no one wants to risk going into failure and therefore they try to manipulate payments wherever the can. I have it in writing from them that they will refund the additional months I have paid whilst their administration process held up the closure of my IVA which is had proceeded well would have happened five months ago. I will try to hold them to that, but I foresee yet another battle!

They appear to not like conflict and tend to cave if you pile on the pressure.
know the T&C's like the back of your hand and stand firm.
I never had any issues with CF until these last 9 months and the issues that they made themselves!
I really hope things get sorted out for you.
CF kept saying "i understand" when I ranted at them about the rubbish they cause....Got me very wound up as unless theyve been in an iva they cant possibly know or understand how this feels.
CF have upset so many customers recently with these F&F paperwork issues! Is the mortgage clause something that can be removed/resolved so you can finish or is it set in stone and need to just continue the extra year instead?