I have previously written that I am about to complete IVA but my IVA comp injuriesany appointed another company to proceed with a mis sold mortgage. I have been reading through the documents they send me and they ask us to undertake a loan either with them or find other way to pay, to fund the progression of our claim and disbursements. Also we would have to take legal expense insurance (if we win, we pay the premium and if we loose, we don't). We would have to attand any court they ask us to. There are questions about medical injuries too. Now my question is: by making us to sign up contract with Pure Legal, is NTF not in wrong? It makes us to take loan, insurance - things we do not want to take. We went on IVA because we took loans and they suppose to lead us of it. It like they are contradicting their own conditions of IVA. Also -courts? We don't want to go to courts for next 2 years. That was one of the thing the guy who had a meeting with us prior signing the IVA told us, that we won't have to go to court. With all of that, can we not just refuse to proceed with that claim? What if I wrote a note to Pure Legal that We were fully aware of the terms and conditions of our mortgage and we can guarantee it hasn't been mis sold?
Also, there can be various reason to raise the case, I don't really understand what is our based on? They don't mention that! Do they realise if we end up in court I am not going to lie for their benefit (getting a fee of 35%). I will confirm that I don't feel like my mortgage was mis sold to me!
There are these questions about medical claims too. Will that be next?
The whole mortgage mis-selling thing is the new PPI ! Unfortunately we do not know what the outcomes or effects will be. I consider the terms this firm is putting on you to be unreasonable, but do not know if refusal is an option. I would write to the IP stating that you are willing to co-operate in the claims on the proviso that they indemnify you against all expenses, fees and possible future claims against you and will repay to you any potential increse in ongoing mortgage payments, as well as pay these upfront costs. See what they say.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk