what do you make of this. Creditfix

[stevie43]

Credit fix are not saying that the third party is via a secured Loan. What they said was I would automatically be passed over to one of their lenders who apply for secured loans with people in IVA. Some are successful some are not. I said the secured loan was not an option for me and I wanted the 12 month extension. Which I have in writing from Mel. She Said I had no choice the decision was not mine and they automatically pass everyone over to this company. If they cld not secure me a lender the 12 month option wld then be available or if I cld get funds via a third party. Family member etc then an F&F would be another option.

[recovering]

surely that is trying to force you into a secured loan? Why else are they doing it? And so anyone unlucky enough to be okayed has to do it? totally random approach and to be frank is again showing us what a haphazard company they are

[recovering]

Remember I was told yesterday my terms and conditions WOULD be changing When another forum member was told that wasn't the case and we could refuse to sign!

[stevie43]

I'm going to email Greg. Get something in writing.

[Lou74]

Thanks for letting us know about this stevie, and do please keep us updated. I am fast approaching month 54 myself and am getting increasingly worried. My equity is very close to call too, so I do not want a drive by valuation thank you very much. I am quite prepared to pay out for a proper survey. After nearly 5 years, I can really feel the stress levels, worry and uncertainty coming back.

[Rock20]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Lou74

Thanks for letting us know about this stevie, and do please keep us updated. I am fast approaching month 54 myself and am getting increasingly worried. My equity is very close to call too, so I do not want a drive by valuation thank you very much. I am quite prepared to pay out for a proper survey. After nearly 5 years, I can really feel the stress levels, worry and uncertainty coming back.

Hi Lou,

What happens if you have no equity in your property - does your IVA complete on month 60?

[Lou74]

Hi Rock, Yes thats what my proposal states, and what I'd always been told by PJG.

[Rock20]

You certainly don't want a drive-by if there is little in it then.

I'm sure our proposal is similar, and will have to dig it out.

Good luck.

[chocoholic2]

This was the main reason I was unwilling to sign the new Ts&Cs...I'm at month 54 in Dec this year...I have the screenshots of Mel saying the 3rd party thing is not a secured loan, but this passing you over to a loan company automatically is very worrying... apparently the secured loan payment shouldn't be more than 50% of your iva payment, and will commence at month 60 - then you have to try and mortgage when it all drops off your credit file after year six and try to get someone to incorporate your loan with your mortgage ...unfortunately I have a reasonable chunk of equity, and had planned to move eventually to plan for retirement.. at this rate it's going to be impossible.
If someone does get clarification on this I'd be grateful to hear it.

[abbiesmum2003]

Sounds a bit dodgey. The valuation should be independent from CF not someone they choose who does a drive by. Hardly a reliable valuation. Should be an independent local expert who actually views your property inside. I wish we coulddo a F&F and get out of this situation. Everyday theres another issue. I stopped using forum after iva set up and just carried on living. Now its imperitive to check what lies in store daily. theresno way we would agree to a secured loan. Mel never suggested it and im not gonna takd on a loan for xxx years. Whole point was to get out of debt. Not drag it out longer. CF seem to make the rules up as they go along.

[chocoholic2]

Like you I became an on/off forum visitor once my iva was up and running ...and now I'm here daily, it's just one thing after another
Secured loans have such an extortionate rate of interest...so much for trying to tackle our debts..I feel like the rug has been pulled from under us!

[harrysmummy78]

I am the same here checked in every now and again on the forum was happily getting on with our IVA's now feeling worse than I've ever felt about our money situation and another 3+ years to go, Creditfix could have nipped all of this worry and speculation in the bud but they are choosing not too.

[doritos]

So are CF choosing the agent that does the valuation drive by?

[thisusernameistaken]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by harrysmummy78
I am the same here checked in every now and again on the forum was happily getting on with our IVA's now feeling worse than I've ever felt about our money situation and another 3+ years to go, Creditfix could have nipped all of this worry and speculation in the bud but they are choosing not too.

Completely agree. There is no way I will be taking a secured loan at the end if I have equity. My IVA does not say that that is one of the required paths and as such Credit Fix can go whistle.

I WILL NOT be bullied, I WILL NOT be forced to do something that has significant ramifications. I am working to get OUT of debt, not into more.

Credit Fix will have another think coming if they try anything on with me, I won't hesitate to see them in court.

Thanks again to Mel for dumping us with this group of cowboys.

[ridingthestorm]

Checking this forum daily now has become an unhealthy obsession of late for me, all I'm doing is worring more and more, this shouldn't be the case !!! This forum should be for help and support not a groundhog nightmare constantly revolving around CF..... And every time I speak to them I get a different answer relating to the same question.... Soooo frustrating