I've been a long time lurker on the forum and have a question i'd like some help with.
I've been with Credit fix for 25 months now and everything has been going well, no payments missed, a £50 increase from year one bringing my monthly payments up from £100 to £150 a month which is affordable and we manage well enough.
My original Debt was £9000(ish) and i'll be looking to get a Sprout loan in April to leave the IVA (pending acceptance of course).
The query I have is that in December last year I was sent an email from CreditFix advising that they can chase mis-sold Payday Loans for me, I agreed and have chased them a few times but they have advised that it's another company that is dealing with this and the process can take a year or so to get resolved.
After going through my records I must have taken out 100+ Payday loans of varying amounts (this was when I was on a 0 hour contract to pay rent,bills etc).
Further checking showed that through the 4/5 companies I used over the 2.5 years i was taking out loans weekly with I had numerous extensions and defaults across the board with good will extensions being given and sometimes not.
I imagine the interest that was paid to these companies for late payments is around 2k+ (not accounting for the regular interest for the loan).
If Creditfix have passed this investigation to a 3rd Party would I be allowed to involve a company that does this sort of tracking down as well? I understand they have a fee attached but Creditifix haven't given me any details at all for what's going on with it.
Of course the claim would go back into the IVA which is expected, i'd just like to know that before I look into Sprout that the amount I'd need to 'borrow' can be as low as possible.
What do you guys think?
Also, the advice and support on this Forum is incredible, keep up the good work guys.