I too am very surprised. The amount you are offering is just below what creditors would get in an extension and they will not get the equity as you cannot raise it. If creditors reject then fine the IVA can be extended but it seems pointless to me for the value of a few hundred quid spread among all creditors.
Bankruptcy would not ensue if creditors rejected the variation and all you are doing is offering an early settlement. You should consider emailing the IP directly as ultimately any complaints are made against the IP.
GL - unfortunately this is coming down to they expected to make more money from you over the years than they actually did.
I agree with Michael up to a point but the manager who sent this to you chose to write it that way and they have an employer responsible for their actions.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by lifenoteasy
GL - unfortunately this is coming down to they expected to make more money from you over the years than they actually did.
I agree with Michael up to a point but the manager who sent this to you chose to write it that way and they have an employer responsible for their actions.
he did cc the ip into this email. Just getting very tired of all this now. Not going to get any more than offered,it was pretty awful asking mother in law to start with no way are we going to ask her to increase it.
Looking at their web site I have a feeling they are another company heading for a rebrand and relaunch.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
GL -- it appears that you have little fight left ( understandably ) and there is little to be gained by making yourself ill with the stress.
I would suggest requesting them to canvass creditors as they have offered, bearing in mind that, no doubt, they will slant the request to obtain the response they require. Then accepting the extension.
Once out of the IVA I would then lodge a formal complaint with them and, concurrently, with their regulators on a "fire and forget" basis.
In the meantime I would go to great lengths to refuse any overtime at work, to minimise any extra payments to the creditors.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I think the way you have been treated is awful but do agree that it is ultimately your choice what you do. I would certainly complain once out of your IVA.
I wish you well in whatever you decide and do keep us informed as we are all here to help and support you.
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
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by lifenoteasy
"Dear
Thank you for your email that I have received today.
I find the tone, language and phrasing suprisingly confrontational and unprofessional and you should regard this email as a complaint about how you specifically have sought to address this matter.
There are 3 issues that you have identified:
1. Whether the reputation of Debt Lifeboat would be damaged by putting forward my offer because it may represent a lack of vigilance on your part
2. Whether the actual offer is sufficient or whether it could perhaps be increased
3. Whether it is worth your while putting forward the offer because it will cost you money
Regarding point 1 the IVA agreement was drafted, handled and supervised by yourselves. Any shortcomings or issues that have not been redressed within that agreement are based on decisions that you made.
I specifically chose Debt Lifeboat because of its professionalism and its willingness to see customers as individuals (and the latter is from your own web site).
Additionally you have had 5 years in which to redress any issues or concerns especially if you felt that equity would be an issue.
Regarding the second point I can only state that I am willing to be advised by you but at the same time I am conscious of what is or is not possible.
Regarding the third point the matter of fees etc. was resolved at the time that you decided to act as the supervisor. Again, if this was an issue this should have been redressed at the time."
That a start.
Reading this I'm thinking is it worth one final go to force them to follow the t&c's and insist on my previous letter. But address this directly to the ip now i have his email address?
Last edited by GL on Fri Aug 28, 2015 3:31 pm, edited 1 time in total.
Just showed my partner the email and she was disgusted with it! She believes I should complain. We haven't had family holiday since 2006 and struggled like hell for the last 8 years. So going to fwd their nice email to the IP to get confirmation he fully agrees what's been said on his behalf.
Lifenoteasy: Any chance you finish the complaint letter off for me? It would be greatly appreciated.
I'm not surprised she was disgusted - I really hope you get somewhere with this.
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
Just found this in the minutes of the IVA standing committee meeting:
"(c) Variation fees/ discretion as to whether variation is appropriate :
StepChange has removed paragraph 19.2 from the standard terms and
conditions, which will give the supervisor discretion as to whether a variation
meeting is appropriate. When one is called it is genuine and in these
instances the supervisor will be entitled to get paid. SC has agreed to
changes and it will be included in next release."
If I'm reading this right, then Stepchange another IVA company, actually wrote it in their conditions, giving them the discretion to call a variation if they felt appropriate and have now been asked and will be removing it from their T&C's.
Is this right? I assume it's classed a a unfair terms and conditions?
If so, then this exactly what my IP is trying to do even without having the condition written in my T&C's to start with???
Just reading the email again. They are not actually saying they are refusing to call a meeting are they? Or am I misinterpreting it? See last 2 paragraphs.
What you would like us to do, therefore is request a variation to be agreed with creditors which lacks credibility. Such an exercise is likely to use up this office’s resources for no reward.
Therefore I can only suggest, in order to minimise unnecessary costs, that I take informal soundings of your principal creditors with our contacts at the creditor agencies to see whether they would be sympathetic to your cause, and let you know the outcome. If they are likely to accept, we will proceed with your wishes; if not, we can discuss again.
No, they are not absolutely refusing, but offering to canvass creditors to see what the reaction might be. As I mentioned earlier though, they can influence the outcome in the way they put it to creditors.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
