F&F meeting (Credit Fix) adjourned 4 times

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Nikl
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by Nikl » Fri Jun 22, 2018 7:25 pm
I owe £27000 and have an IVA for £111 a month. I have been offered by a 3rd party to pay off the IVA for the full amount I would pay over 5 years. The first meeting was the 26th April and was adjourned for the 4th May. This was then adjourned until 14th June due to ‘paperwork issues’ of which they refuse to divulge what on earth that is. Then this was post posted until the 21st June due to no creditors turning up, the on the 21st June it was adjourned again because of a paperwork issue until the 28th June. One credit has rejected it in that time as it’s not in their interest to accept as the dividend is too low (although I don’t understand this as the full amount is being offered). Is this normal? Is the fact that creditors are rejecting it due to paperwork issues a good thing as it shows they are entertaining it, or am I dreaming? I’m only 8 months into it but I’m single with three children and just to be out of this horrible mess. I’m so down and worried it will be rejected.
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Foggy
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by Foggy » Fri Jun 22, 2018 8:07 pm
I have been on this forum for 8 years and, until CF appeared on the scene I never heard mention of regular adjournments of creditors meetings and rarely came across single adjournments while the IP canvassed creditors to get a meaningful vote .... but this seems to be the norm at CF. There is obviously something they are doing (or not doing) which doesn't sit well with creditors.
Nikl
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by Nikl » Fri Jun 22, 2018 8:10 pm
So this seems normal? Does it mean that there may still be a chance for it to go through eventually. I’m a nervous wreck
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Foggy
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by Foggy » Fri Jun 22, 2018 9:06 pm
Nikl wrote:
So this seems normal? Does it mean that there may still be a chance for it to go through eventually. I’m a nervous wreck


Normal for Creditfix, but not an industry norm. As I said, I have seen this routinely with CF recently but they still seem to manage to pull it together in the end in the majority of cases.
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abbiesmum2003
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by abbiesmum2003 » Fri Jun 22, 2018 11:19 pm
SNAP!

We have been trying to complete our IVA since April!
Theres a secured loan for our equity release part of out iva. All payments have now been paid and a loan ready for them but has been adjourned at least 4 times! Also been told its due to paperwork and the way its been "presented" by creditfix. Keep telling me the creditors arent happy about paperwork, fees and each time one of them isnt happy it get put back another 28 days!
Absolutely sick of it as we dont know if coming or going. Some poor guy got a right mouthful from me yesterday but they need to know how poor their customer service is!
Youve made me feel a little better though! Ive told them I want an answer at our next meeting and for a resolutions team theyre not so good with resolving issues!!!

And by the way foggy....an email today from them has stated i am not required to pay any further payments until a decision has been made so thats our standing order cancelled!!!!
Nikl
Posts: 72
by Nikl » Sat Jun 23, 2018 6:08 am
I was told this paperwork issue has affected quite a few people with credit fix. I’ve only been adjourned for a month once, this time it’s a week but I’m not holding out my hope that they will accept if I’m honest. Feel so miserable
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Foggy
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by Foggy » Sat Jun 23, 2018 7:11 am
abbiesmum2003 wrote:
SNAP!


And by the way foggy....an email today from them has stated i am not required to pay any further payments until a decision has been made so thats our standing order cancelled!!!!


That is good to hear -- and that you have it in writing. Don't lose that email !
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abbiesmum2003
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by abbiesmum2003 » Sat Jun 23, 2018 7:28 am
They told me theyd changed the format of paperwork recently and creditors not happy with it.
The guy i spoke to this week has given me the impression my adjourned meeting on Monday still wont take place and theyll need another 28days notice for another one! Goodness knows what theyre playing at!
And Foggy...that email is flagged screenshoted and forwarded to my husband!
Ive even got Select chasing CF to get an answer as the bank holding our loan have done so since March!!!!! dont want them changing their mind!
Also to anyone reading-please dont be scared/anxious about Select Partnership. They have been fab through this process. Everyone ive spoken to polite and knowledgable. replied when they promised. followed up queries. If they couldnt help they forwarded info to another person who got in touch same day AND the previous person got in touch to say theyd escalated to person x and thats who got in touch. Perfect example of a professionally run client centred company which communicates well.

Nikl i hope your F&F gets sorted soon. Its a nightmare waiting for a decision. Keep in touch.
Nikl
Posts: 72
by Nikl » Sat Jun 23, 2018 7:30 am
What is select partnership? I initially took the IVA out through a 3rd party but now only deal with credit fix. I speak to someone different every time, the resolutions department are so hard to understand and talk to and I’m scared they’re not fighting my corner
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abbiesmum2003
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by abbiesmum2003 » Sat Jun 23, 2018 10:26 am
We have finished our IVA. Paid all 60 payments so had to do the equity release thing. Select is a company who have helped us look at remortgage/secured loan. You wont need their input if doing a f&f with familys help.
I was just telling other posters who read that select have been total opposite to CF.
I dont believe CF have our interests at heart and have always come across as a company who only want to line pockets so make sure you know your t&cs, your options and what should be happening to challenge them. I told resolutions team they arent good at resolving!!!!! Its hard work and some team members arent good at telephone calls!
redboxtree
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by redboxtree » Sat Jun 23, 2018 10:46 am
The likelihood the issue is to do with their proposed charges.
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Foggy
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by Foggy » Sat Jun 23, 2018 10:58 am
The paperwork layout and procedure for the majority of cases has been pre-agreed by creditors for those firms who use Protocol or R3 terms. This was to make the system more uniform and faster to process the applications. It would seem that CF are trying to depart from the "norm" and set up their own system, which isn't going down well it would appear.
SteveM
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by SteveM » Sat Jun 23, 2018 11:57 am
I am having exactly the same issues with Creditfix at present and now on the fourth adjournment of variations meetings in relation to my proposal to close my IVA with available equity. Reasons given have been vague and lacking in any meaningful explanation. If the proposal had been accepted at the first variation meeting it would have been completed three months ago. The Select Partnership have been brilliant, highly professional, friendly and polite to work with. But in relation to Creditfix, I am reaching the end of my tether. The associated anxiety is dreadful. It is reassuring it hear others are experiencing the same, but this continued and repeated delay cannot be right, what can be done ?
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Foggy
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by Foggy » Sat Jun 23, 2018 12:43 pm
SteveM wrote:
I am having exactly the same issues with Creditfix at present and now on the fourth adjournment of variations meetings in relation to my proposal to close my IVA with available equity. Reasons given have been vague and lacking in any meaningful explanation. If the proposal had been accepted at the first variation meeting it would have been completed three months ago. The Select Partnership have been brilliant, highly professional, friendly and polite to work with. But in relation to Creditfix, I am reaching the end of my tether. The associated anxiety is dreadful. It is reassuring it hear others are experiencing the same, but this continued and repeated delay cannot be right, what can be done ?


All you can do is complain, The procedure is to first use the companies own complaints procedure and, if that doesn't yield results, you can escalate the complaint to their regulators. The regulators, however, will not intervene but can levy a smack on the wrist or a fine ( sometimes quite hefty).
Nikl
Posts: 72
by Nikl » Sat Jun 23, 2018 4:11 pm
redboxtree wrote:
The likelihood the issue is to do with their proposed charges.


I’m so clueless, what does this mean? Can this be rectified?
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