Letter from DFD disgusted

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Chappie
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by Chappie » Wed Mar 08, 2017 6:25 pm
Hi all.

I have today received a letter from dfd saying that they are taking steps to terminate my Iva. It started in January 2008 and i am now in my 10th year. I lost my house 18 months ago and lost my job. I took a much lesser paid job and completed an income and expenditure last October and sent payslips. I dont know what else I can do I have paid over 28,000 into my Iva. Ppi has also been paid in. My house had a shortfall this was supposed to be added to the arrangement. DFD are a joke. Nearly ten years of worry and hardship not to mention bad luck and they do this. Have I any options. I wish I had gone bankrupt now. I would have been well clear.
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kallis3
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by kallis3 » Wed Mar 08, 2017 6:26 pm
Have they given you a reason? I would stand my ground and fight them over this.
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Chappie
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by Chappie » Wed Mar 08, 2017 6:29 pm
They rang me to complete a new income and expenditure which I am happy to do. It hasn't changed since last time. They rang me whilst at work. Is there a complaints procedure I can follow.
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recovering
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by recovering » Wed Mar 08, 2017 6:41 pm
What reason have they given to terminate? Surely there has to be breach?
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kallis3
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by kallis3 » Wed Mar 08, 2017 6:45 pm
You should complain via their internal system initially and if nothing happens then take it further.
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Foggy
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by Foggy » Wed Mar 08, 2017 6:49 pm
They cannot arbitrarily terminate an IVA without prior discussion with you. If it is because the IVA has become unviable due to, for instance, low disposal income then they could ask the creditors to accept payments made to date to bring the arrangement to a successful close.
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Chappie
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by Chappie » Wed Mar 08, 2017 6:52 pm
I did have a breach. I couldn't pay into the Iva. I completed an income and expenditure. They said I didn't earn enuf to pay into. I had to take a job that was £450 per month less than I was earning.
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Foggy
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by Foggy » Wed Mar 08, 2017 6:53 pm
Chappie wrote:
I did have a breach. I couldn't pay into the Iva. I completed an income and expenditure. They said I didn't earn enuf to pay into. I had to take a job that was £450 per month less than I was earning.


Then they should be asking for payments to date to be accepted.
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Chappie
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by Chappie » Wed Mar 08, 2017 7:16 pm
I have asked. Because of the shortfall on my property they are not able to do it. At a loss. I cant magic money up to pay. The shortfall added to the Iva has obviously bumped it up a considerable amount.
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Chappie
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by Chappie » Wed Mar 08, 2017 7:18 pm
I took an Iva thinking that 5 years I would be free. And still have my home. Unfortunately circumstances dictated that was not to be. Hind sight is a wonderful thing.
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recovering
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by recovering » Wed Mar 08, 2017 7:37 pm
They are not able to do it? Do you mean they have asked your creditors? I think they are supposed to put it to the creditors if you request it?
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Foggy
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by Foggy » Wed Mar 08, 2017 8:02 pm
Denise.8 wrote:
They are not able to do it? Do you mean they have asked your creditors? I think they are supposed to put it to the creditors if you request it?


It could be that the shortfall reduces the dividend too much -- but, as you say, that should also be put to the creditors to decide.
Chappie1
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by Chappie1 » Wed Mar 08, 2017 8:20 pm
As far as I am aware they have not had a meeting with the creditors. I have had no communication from dfd with regards to any contact with the creditors. I have communicated all the way along with them and been honest. Can they just decide to close down.my Iva in its 10th year? Do worried that I am going to get creditors ringing and chasing money again
Chappie1
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by Chappie1 » Wed Mar 08, 2017 8:26 pm
From my statement it states that original dividend was 39.91 now with the shortfall added its 15.82. Is this the reason?.
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Foggy
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by Foggy » Wed Mar 08, 2017 8:28 pm
I am assuming that you have no assets to protect and it will not affect your job -- but I would suggest you consider going bankrupt if it comes to it. This is why, in similar situations, creditors consider accepting payments to date --- simply because they will not be getting anymore anyway !!
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