Fo I have to sign an RX1 form?

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michelle581
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by michelle581 » Fri Jun 29, 2018 5:15 pm
I have been in a IVA for 2 years and have 4 years to go. I pay every mth £135.00 without fail.
I have just been told i must sign a RX1 to protect my home from my creditors , creditfix told me it is to protect my home from being taken away from me because of my debt
When i have read the paper work it states creditfix is a applicant on my property
I dont like the sound of that
My home is all i have
do i have to sign it ?
This is all news to me nothing was ever said about creditfix going on my deeds
I have spoke to them and they say i must sign it
HELP !
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Foggy
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by Foggy » Fri Jun 29, 2018 6:01 pm
Yes you must sign it, but Creditfix are demonstrating either dishonesty or their complete lack of knowledge. The RX1 puts a notice on the deeds which, if you tried to sell during the IVA, would alert buyers as well as inform the IP. That is all it does. It is not a charge and it gives them no rights --- it is to protect the creditors, not you! Botton line, it is to stop you sneaking off and selling the house without them knowing and grabbing the equity.
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J5453
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by J5453 » Fri Jun 29, 2018 6:27 pm
I’m amazed at the lack of honesty on their part too! This is basic stuff and they should be able to give a clear reason why the form has to be signed.

I’m not sure if it was just my company but this was explained to me before I even put pen to paper in setting up the IVA so I knew I had to sign it and why before I said yes to the IVA being the route I wanted to take.
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abbiesmum2003
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by abbiesmum2003 » Fri Jun 29, 2018 7:37 pm
From my experience Creditfix dont fully understand the T&C's related to an IVA! Seems to make it up as they go along! yes you do have to sign the form. Surprised youve got this far without doing so. we had to sign before iva commenced.
like foggy says it is to stop you selling property and keeping assets which would be claimable by the creditors. It will be lifted once iva completed
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michelle581
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by michelle581 » Fri Jun 29, 2018 7:53 pm
Foggy wrote:
Yes you must sign it, but Creditfix are demonstrating either dishonesty or their complete lack of knowledge. The RX1 puts a notice on the deeds which, if you tried to sell during the IVA, would alert buyers as well as inform the IP. That is all it does. It is not a charge and it gives them no rights --- it is to protect the creditors, not you! Botton line, it is to stop you sneaking off and selling the house without them knowing and grabbing the equity.





I will not be signing the RX1.
I will not be pushed into accepting credixfix as a applicant on my house deeds
It has NO real time span, it has NO 100% guarantee that credixfix will be removed after 4 years on my deeds as a applicant
We live in a unstable England budget , leaving the EU within 4 years , how do i know whats on the agenda for companies such as creditfix,who ( by the way pay them selves before any debt is payed off your debt )
I must not jeopardise my son , myself ,s future by not looking into this very carefully indeed,
Credixfix has sent me this RX1 on the 20th june 2018 ,when i phoned them , totally insisted i must sign it.
2 years i have not been told/explained , even mentioned at all about the RX1
Just sent to me with a return 1st class envelope stating MUST BE SIGNED.
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Foggy
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by Foggy » Fri Jun 29, 2018 8:33 pm
michelle581 wrote:
Foggy wrote:
Yes you must sign it, but Creditfix are demonstrating either dishonesty or their complete lack of knowledge. The RX1 puts a notice on the deeds which, if you tried to sell during the IVA, would alert buyers as well as inform the IP. That is all it does. It is not a charge and it gives them no rights --- it is to protect the creditors, not you! Botton line, it is to stop you sneaking off and selling the house without them knowing and grabbing the equity.





I will not be signing the RX1.
I will not be pushed into accepting credixfix as a applicant on my house deeds
It has NO real time span, it has NO 100% guarantee that credixfix will be removed after 4 years on my deeds as a applicant
We live in a unstable England budget , leaving the EU within 4 years , how do i know whats on the agenda for companies such as creditfix,who ( by the way pay them selves before any debt is payed off your debt )
I must not jeopardise my son , myself ,s future by not looking into this very carefully indeed,
Credixfix has sent me this RX1 on the 20th june 2018 ,when i phoned them , totally insisted i must sign it.
2 years i have not been told/explained , even mentioned at all about the RX1
Just sent to me with a return 1st class envelope stating MUST BE SIGNED.


If you do not sign it the IVA will be terminated and your debts would increase. Although Creditfix have gone about this the wrong way the RX1 is standard to IVA's taken out by homeowners. If the IVA fails your creditors can enforce payment, which could be by declaring you bankrupt, in which case the house could really be at risk.
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J5453
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by J5453 » Fri Jun 29, 2018 8:56 pm
They’ve really not been very helpful by allowing it to get this far before sending it and then giving a misleading explanation but if you want to stay within T&C’s of your IVA as a homeowner I’m afraid as already mentioned it will have to be signed. If you need to get independent advice then speak to CAB. But as someone who has also gone through this, it really is part of the terms for the IVA.
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kallis3
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by kallis3 » Sat Jun 30, 2018 2:51 pm
All it is is a restriction so you cannot sell without letting your IP know. Once your IVA is finished it will be lifted.
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Lisa Thomas
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by Lisa Thomas » Mon Jul 02, 2018 10:52 am
You have a duty to cooperate with your IP.

Yes, this should have been dealt with at the start and yes they haven't explained it very well but it's just a restriction, not a charge and if you don't sign you could be at risk of breaching (and failing) your IVA, which is not recommended.
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