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tim969

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Post by tim969 » Wed Oct 21, 2020 11:23 am
My partner is 16 months into a 6 year DRO - She needs to pay back a total of £7500 over that time but her mental health and job changes have meant lower income and a danger of it failing. I have written to the firm concerned and offered 6k Full and final settlement and explained the reasons but they have said they need the full amount before they approach the creditors? What are our next steps

kallis3

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Post by kallis3 » Wed Oct 21, 2020 11:29 am
Hi,

A DRO only lasts 12 months -I assume you mean an IVA or DMP? Which company is it? It is your offer to make and they have to put it forward. Insist on it. Where is the money coming from?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Foggy

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Post by Foggy » Wed Oct 21, 2020 12:02 pm
It is your offer to make, not theirs. The majority of full and final settlements are based on remaining payments and their insistence on full settlement is driven by their own greed.

Unfortunately the creditors will be guided by your IPs recomendations, so do examine the way they word the offer before it is presented.

Insist that they forward the offer to creditors. Should they refuse you can make a formal complaint, which can then be escalated to their regulatoty body.

I, too, am curious as to who you are dealing with. One firm, in particular , is renowned for this approach .... might it be spreading ?
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

tim969

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Post by tim969 » Wed Oct 21, 2020 4:45 pm
Hi people thanks for the response and yes of course i meant IVA not DRO .......Credit fix are the company concerned??

Foggy

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Post by Foggy » Wed Oct 21, 2020 5:00 pm
Wed Oct 21, 2020 4:45 pmtim969 wrote:
Hi people thanks for the response and yes of course i meant IVA not DRO .......Credit fix are the company concerned??
That's the firm I had in mind --- they do this every time !
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

tim969

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Post by tim969 » Wed Oct 21, 2020 5:07 pm
AAAHH ok - well its my partners IVA and i have raised the 6k - there is no more and the option is she wont be able to afford what shes being asked to by them so no one will get any money!

kallis3

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Post by kallis3 » Wed Oct 21, 2020 5:11 pm
Why are we not surprised about CF! Stick to your guns and tell them you want that putting forward and there is no more available.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

tim969

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Post by tim969 » Thu Oct 29, 2020 1:38 pm
Thanks for the advice people- update for you -had a phonecall with credit fix last thursday(29th) 3 different advisors said that they wanted the full £7500 offered before they would approach the creditors, we refused and said 6k is all thats available and option would be the IVA would possibly fail. Was promised a call back the next day from the "decision maker" and in the meantime an email with paperwork to have the payments reassessed....neither appeared!!!
Rang today to be informed that my partners payments wont be collected from her bank this month as the offer is being prepared and that we should recieve a consent call by 3pm next Monday taking us through whats being discussed and when etc. I have asked for a written copy of the offer that will be made.....will update as and when................................
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