what do you make of this. Creditfix

[doritos]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by chocoholic2

Mine doesn't have numbers..but says: if you are unable to obtain a re-mortgage your supervisor will have discretion to accept one of the following.
A third party sum equivalent to 85% of your interest in the property or
12 additional contributions with the aggregate sum laid being limited to 85% of your interest in the property

But importantly, no mention of a secured loan, they will usually side with the 12 months thing (the extension that you see people talking about.)

[chocoholic2]

Certainly no mention of the new 2014 wording in my proposal

[doritos]

a freshly drawn up IVA would be a 2014 protocol and include the secured loan bit.

[chocoholic2]

So we should be able to challenge this if we are forced down the secured loan route?

[recovering]

it is under "dwelling house then valuation then release of equity 14.15.16.17 and no mention of secured loan anywhere apart from in the valuation calculation

[recovering]

I still have the screenshot of Mel stating she had taken counsels advice and that remortgage and secured loan are not the same thing and any company saying such were on very thin ice

[doritos]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>So we should be able to challenge this if we are forced down the secured loan route?

I'll tell them to jog on and that its not in the agreement.

Stand firm as its not protocol so they can't enforce it.

if they try to argue that a secured loan is the same as a remortgage its not, they are entirely different things as far as the wording of the protocol goes

[chocoholic2]

The beginning of my email reply today said "re-mortgage/secured loan are slightly different but come under the same concept".....obviously not or it would have said 'secured loan'

[doritos]

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

I still have the screenshot of Mel stating she had taken counsels advice and that remortgage and secured loan are not the same thing and any company saying such were on very thin ice

there you go.. solid gold that, and I'm sure Mel / Insolvency service would gladly support that if it came to it..

[recovering]

I had a similar thing at work takeover day the new company arrive with zero hours contracts said it is the industry norm...that may be but we all had different contracts which TUPE states you have to honour they backed down on the end I think Creditfix are chancing their arm

[recovering]

The quote is still on this forum if people need it 18th july 2014 if you search it and another statement saying she does not consider a secured loan to be a a loan from a third party I did put the link to that quote on another thread with Creditfix in the title but if ANYONE needs the screenshot contact me through admin I will send it on

[doritos]

chocoholic, have they said which agent will be carrying out the driveby (if there was ever a sentence for a spy / crime drama its that)

[harrysmummy78]

I posted the quote on the first page of this thread here it is

http://www.iva.co.uk/forum/topic.asp?TO ... w8pV9.dpuf

[chocoholic2]

[:D]....no,no company was mentioned, just that I could get my own valuation and submit the paperwork...

[doritos]

follow it through that one, let them provide the quote, ask them to tell you the name of the company (tell them its so you don't end up going to the same place or whatever, think of sumnmat)

Be interesting to see if there is a link between firms.