what do you make of this. Creditfix

[hubert]

I agree it is disappointing...

But it's not just Creditfix who refuse to state policy. Representatives from other companies have refused too (or ignored requests).

If you won't state your company's policies then either they don't exist, you don't know them or you're too afraid to reveal them.

It's so frustrating and worrying. Imagine if an airline refused to publish its policy on baggage allowance. So you turn up at the airport and just hope they let you on. How much stress would that add to travelling?

And we're talking about our lives, not a weekend away here. We live our IVAs day-in day-out.

So yes... very disappointing.

Adendum - sorry if that sounded like a rant, it wasn't, I just wish we could get clarity [:)]

[Desperate Bob]

Thank god I got PJG to put in specific terms in my IVA, I made sure it was written into my chairman's report that only a mortgage can be used to release equity 'And no form of secured loan can be used' Thankfully we got it through the application and it was only one company that picked up on it.

Someone mentioned that you could just not sign the paperwork for the loan but they would then be able to say you are in breach of your terms and bankrupt you.

Although I could see this secured loan stuff coming a mile off to anyone who are nearing completion try not to worry as they wont be able to use the new terms on your IVA, its the people who have only just taken an IVA out, or are going to that will be caught with it.

[recovering]

What do you mean by that? Do you mean non protocol?

[stevie43]

Clarification from Credit fix. They are classing the remortgage and secured loan as the same thing. All household expenditure will be taken into consideration. Although chances are you won't be approved.

[ridingthestorm]

Great !

I'm guessing you wouldn't be approved because of your credit Score ?... But I bet CF get round that one

[harrysmummy78]

I feel like I may as well toss our IVA contracts on the fire as they don't appear to be worth jack anymore!! feels like this has all been for nothing and we are powerless to do anything about it.

[stevie43]

The issue that greatly concerns me is that they take your partners salary into consideration even if the property is not in Their name? What happens if your relationship breaks down. Affordability you are screwed. The house is mine. The debts are mine. My partner is not going to sign up for a loan on those grounds. So where do you stand then ?

[harrysmummy78]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by stevie43

The issue that greatly concerns me is that they take your partners salary into consideration even if the property is not in Their name? What happens if your relationship breaks down. Affordability you are screwed. The house is mine. The debts are mine. My partner is not going to sign up for a loan on those grounds. So where do you stand then ?

Hopefully one of the experts will be along soon!! what did they say about getting your house valued? are they going to do a drive by? or can we provide our own house survey?

[hubert]

Stevie - do you have it in writing from Creditfix that this is their policy?

Also, if your partner/wife/husband refuses to sign up for a loan I cannot see how that can have any affect on your IVA.

Anyone who is not part of the IVA cannot cause it to fail. To suggest otherwise is ludicrous.

There is no such thing as a contract you can sign than obligates a third party. The very concept is nonsense. So if your partner does not wish to take out a loan that's the end of the matter - provided they have not signed anything to say they will.

[chocoholic2]

I had basically the same reply about the secured loan...Greg did say they do use drive by valuations, but I could also get my own, just not sure how much notice they would take of it.

[recovering]

My IVA contract does not mention a secured loan I have evidence from Mel clarifying this, I am not signing anything CF ask me too, My terms and conditions have not changed so they can swing. I think we need to seriously get together on this and seek legal clarification they cannot just bulldozer us into it

[harrysmummy78]

so they can basically change all the terms of our IVA's then? I don't see how they can do this.

[recovering]

We are stronger together! can't we organise something?

[recovering]

They can't! they have already admitted we do not have to sign their interpretation does not mean it is legal as Mel said she had Counsels view on it

[chocoholic2]

So much for 'nothing will change'..this was why I wasn't signing the new Ts&Cs, but it sounds like that won't make a difference, just not sure how Creditfix's interpretation of our original Ts&Cs can be enforced [V]