Confusion after Debt Free Direct merged into Fairpoint Group

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emma848
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by emma848 » Wed Aug 09, 2017 2:30 pm
Debt Free Direct ( part of the Fairpoint Group ) have gone into administration last week. My friend was at the end of a 4 year IVA with them totalling 30k
How can he know that previous payments have been paid and if not is he liable for the debt ?
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kallis3
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by kallis3 » Wed Aug 09, 2017 2:40 pm
Hi,

Your friends IVA will be fine and will be transferred across to another company.
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Foggy
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by Foggy » Wed Aug 09, 2017 2:46 pm
As said, all current cases will be assigned to another IP, who will also take over the client accounts. You will be contacted in due course by the administrators.
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Michael Peoples
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by Michael Peoples » Wed Aug 09, 2017 3:03 pm
Any money paid into an IVA is protected by an insurance policy. Even in cases of fraud, which is not the case here, the funds are protected and debtor nor creditor will suffer a loss.
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