Credit fix, meeting adjourned again.

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Nikl
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by Nikl » Thu Jun 28, 2018 7:32 pm
Credit fix have adjourned my F&F meeting again, they have been saying they have had paperwork issues since late April and it’s affecting about 700 clients. But apparently it will be sorted next week and I can put in for another meeting in 28 days from them. Has anyone actually spoke to anyone that explains clearly as they told me when my first meeting was adjourned it had been sorted that afternoon and would be fine. I’m losing confidence in CF.
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Foggy
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by Foggy » Thu Jun 28, 2018 7:50 pm
To be honest I have noticed unusual levels of adjourned meetings with CF (variation and initial creditors meetings) for quite some time. Initially many creditors were complaining that they either hadn't been advised of the meetings at all or that they had incomplete paperwork. I fear that this is not a new problem at the firm and I doubt anyone will get a straight, reliable, answer.
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abbiesmum2003
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by abbiesmum2003 » Fri Jun 29, 2018 6:28 am
As you know this has affected us completing our iva.
I have spoken to at least 3 different people and keep getting sane answer about the format of paperwork. They changed it and on particular creditor (insolvency exchange) dont like it so holding up all cases until resolved.
Im being told the IP's at creditfix are trying to get it sorted.
To be honest ive given up trying now. Its not my problem (although its blinkin inconvenient!!!). Weve paid our IVA. They dont want anymore payments until its sorted(got this in writing) and loan not currently authorised so more money for me until they can sort themselves out!
Its been a hellish few months with lies, blabber and them telling me what they think i want to hear. I just want the truth and a realistic time scale not rubbish that they know isnt true and leads to more disappointment.
So im just leaving them to it now. Hopefully have news in a few weeks!!!
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Foggy
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by Foggy » Fri Jun 29, 2018 9:17 am
Best view to take Abbiesmum ---- you are in a position to let them work their own calamities out. Why they want to muddy the waters, though, is beyond me and TiX represents many, many creditors.

CF should, in my opinion, be processing proposals based on the old format whilst negotiating the new format away from live cases. But the route to industry dominance is a rough one !!
Nikl
Posts: 57
by Nikl » Fri Jun 29, 2018 5:07 pm
Foggy wrote:
Best view to take Abbiesmum ---- you are in a position to let them work their own calamities out. Why they want to muddy the waters, though, is beyond me and TiX represents many, many creditors.

CF should, in my opinion, be processing proposals based on the old format whilst negotiating the new format away from live cases. But the route to industry dominance is a rough one !!


I’m assuming this isn’t something I can request? I hate the constant anxiousness this brings.
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Foggy
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by Foggy » Fri Jun 29, 2018 6:02 pm
Nikl wrote:
Foggy wrote:
Best view to take Abbiesmum ---- you are in a position to let them work their own calamities out. Why they want to muddy the waters, though, is beyond me and TiX represents many, many creditors.

CF should, in my opinion, be processing proposals based on the old format whilst negotiating the new format away from live cases. But the route to industry dominance is a rough one !!


I’m assuming this isn’t something I can request? I hate the constant anxiousness this brings.


I doubt they would play ball !
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abbiesmum2003
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by abbiesmum2003 » Fri Jun 29, 2018 8:57 pm
They arent caving at all. They are being very cagey and unrelenting. They know this is affecting ALL clients propsing F&F or closure and yet all we're being told is its a paperwork format issue that theyre in talks about.
All you can do is sit back, carry on paying your iva as contracted and let them argue between themselves. Ive come to the conclusion we are powerless and completely at their mercy so have to just wait it out.
I dont know if you will be able to reduce your F&F offer amount each month you pay into you iva. I think some people have done that before but foggy will be better equipped to discuss that!!!
Otherwise i dont think theres anything we as clients can do about this. Hopefully we both get good news soon.
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Foggy
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by Foggy » Fri Jun 29, 2018 9:08 pm
There is a possibility of reducing the F&F lump sum amount by the interim payments, but this has to be included as a condition of the offer in the first instance. In view of the fact that this complete mess is entirely their fault they might agree to a payment break pending the outcome. Of course, if the F&F is rejected the missed months will be added back on at the end.
Nikl
Posts: 57
by Nikl » Fri Jun 29, 2018 9:13 pm
Foggy wrote:
There is a possibility of reducing the F&F lump sum amount by the interim payments, but this has to be included as a condition of the offer in the first instance. In view of the fact that this complete mess is entirely their fault they might agree to a payment break pending the outcome. Of course, if the F&F is rejected the missed months will be added back on at the end.


They have said payments will be stopped and I was naively hoping this means they think the offer is strong.
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abbiesmum2003
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by abbiesmum2003 » Sat Jun 30, 2018 9:00 am
Thanks foggy
Thats good the payments have stopped while this is sorted (hopeyou have that in email because their memory is poor!!)
If I was you i would save the money you usually pay them..just incase your F&F is not agreed and they want money in one chunk!!!! You never know with creditfix!!
I know how rubbish this waiting not knowing is. Ive been a nightmare to live with but once accept this isnt anything you can influence it becomes easier.
I have high hopes my F&F will be accepted, and if you have a strong offer You have a good chance too. They seem to settle cases as gets them off books and makes way to take on more!! Creditors get money in one chunk without waiting years and getting dribbles of money. Its good your payments are on hold but still tied to all clauses of iva so go steady. Put the money in a place of safety where you wont be tempted to spend it. If F&F is accepted youll have a chunk of money aside to either have for yourself or pay back whos helping you. if its not accepted youve got the money to meet the missed payments.
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