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  1. Dear all, I was able to have an FFS offer accepted by the creditors after 5 years in IVA ( redundancy factored into offer), which is a great relief for me but the iVA partner advised they would not release the satisfaction letter unless I signed a deal that all future PPI recoveries were paid to them. Some history on this ( IVA partner had a sister company look into my PPI about 3 years ago and recovered very little. When the PPI deadline happened I hired my own company claims firm who were charging similar rates and with approval of IVA partner). They have recovered considerably more and their invoices have been sent to IVA firm for direct settlement as they are being sent the funds currently by the banks/ cc firms. I also believe that some of the PPI claim should be returned to me ( interest? ). The situation now is that PPI claims firm have not been paid & I have not received anything back either. ( PPI firm is now contacting me). Please can you advise if its legally binding that all PPI must be paid to IVA firm & also if there is a reasonable timeline that they should process these amounts? Thank you in advance
  2. yes it states PP as the IP company and the practitioner names are shown separately on the docs Thanks
  3. I would say at least 80% of my debt is with dcas Payplan put some kind of interest on the property at start of iva so that they are notified if anything were to happen, I thought it was a charge? They have a branch called Payplan Partnership ltd and always answer the phone as IVA support? They have case officers assigned and I never was able to deal directly with the IP
  4. Its with Payplan They are holding a charge on my property and the veiled threats about possible bankruptcy do worry me. If I ask to terminate my iva dio they have to release the charge on my flat? Original lenders were cc (mc&vi) barclay natwest tsb amex rsb bos Cap one egg halifax mbna loans with Welcome PD loans money shop, uncle buck, pounds til payday, quickquid, mem, Wonga, peachy Having said that many are with DCA's like Lantern. Max , Hoist, PRA. Lowell , Watch Intrum ( big ones are Intrum Max Hoist& Watch) Thanks again!
  5. Hi DX100uk Thanks for your message and also that you remembered my issues I am still in iva but not paid them for 3 months. After my redundancy in Mar I had to pay them 18.5k and thought I was close to ffs but they advised that due to redundancy payment treated as windfall (lol) they were changing the due amount from 81% to 100% I did find another job after 6 weeks but am on probation for 6 months but its not going well as I am stressed from iva and new job. The doctor has signed me off for 2 weeks with anxiety & referred me to a councillor, also written a letter for me to fwd to iva asking they allow me to settle early. So far my original debts were 74k but proven debt was 61.5k With my payments to date (including redundancy) I have paid in 54k and my girlfriends family are so worried about me they are offering 11k as gift for ffs Payplan were going to terminate my iva and said it could well result in bankruptcy ( I have a flat with a mortgage) but equity of about 80k which I am worried they will go after I spoke to pp today telling them how stressful this all was and it may well be that I don't pass my probation ( I am 59 btw so was lucky to find a job so quickly) Sorry to burden you with all this but I always respect your advice and knowledge, and PP have worried me by going for the 100% and bankruptcy warning Thanks in advance
  6. Hi all, I received this kind of letter too & have registered online. Please do you know if it covers all 3 of their companies ( money shop/ payday uk & Payday express) , unfortunately I was victim to all 3 at some point.. Also, am currently in an iva and MS is included, do you think I could stop paying & ask my iva if that's feasible ? Thanks in advance
  7. Thanks dx Please could you send me the best link? Also, if I manage to get back more than my balance remaining on iva would this mean a refund? I'm very disappointed with iva support since my redundancy, they seem to have become a credit control team and are constantly asking for updates and payment Thanks again!
  8. Dear all Please can you help me with some advice/ tips? I have a history of large credit debt, ( many credit cards, consol loans, payday loans, ) and following a failed dmp, I entered into a 5 year iva (equity clause applies) The iva is large 73k is the total debt and so far only 63k is proven. The iva proposed that I pay 81p in the pound and this was agreed. In Jan of this year I had paid 32k but was made redundant in Feb & paid the windfall demand of 19k , so now have paid in approx 53k Unfortunately, due to stress from previous job & debts I am looking for another job but my health has taken a turn for the worse and I'm having to have treatment. I contacted my iva firm to ask if its possible for F&F settlement and so far they have given me 3 different amounts of what is left to pay ( 7k, 16k & more recently 50k? and that my payment to creditors had increased to 100% due to my redundancy) I queried the 50k stating that this would mean total has exceeded my original debt by 27k?. Additionally I have been in contact with the FOS to ask if its possible to claim refunds on payday loans (30% of my iva balance) and they advised that it was although my iva firm did not advise me this on joining. Also, FOS have said its also possible to claim irresponsible borrowing from cc firms too if they had checked properly that I could afford to pay the credit back. Is it too late to start these reclaims & also would any refund be classed as a windfall and go to my iva? If debts are wiped out by creditor would this reduce the original total of my iva and mean less to pay in? My other thought was to maybe see if I can get a F&F agreed & then reclaim afterwards. Sorry its so much info but any advice is much appreciated Thanks
  9. Thanks for the reply. Yes I contacted PP and they guided me through the process but I was anxious at the time to get a deal in place so did not check items you mention. Is it too late to do that? I did mange to get some ppi back but that was offset against iva balance Thanks
  10. Hi there, I am currently in a 5 year IVA and completed 3 years so far Appox 30% of IVA was payday loans and I am now seeing many ads from no win/no fee companies claiming that they can get back not only roll over interest but more compensation too? Please can you advise if this is a good thing and also if its possible to do this while an iva is active? Thanks
  11. Thanks Andy So if I can transfer my plan to one that offers flexi drawdown income, I can withdraw upto 25pc tax free and leave the rest invested? I'm not sure but it looks as though Aviva are allowing customers to set this up without a financial adviser? Thanks again
  12. Hi there I just turned 55 and looking to take upto 25 pc of my pension pot. ( tax free) it seems to be a lot trickier than I thought and was hoping for some tips please. my current provider (aegon) advised that my plan does not offer 25% tax free and told me to get a financial adviser or go to their site retirready? - I looked on this site and its more confusing all i want to do if possible is take 25pc tax free and leave the rest in a plan so do not have to pay any tax Any help is much appreciated thanks!
  13. Thanks fkofilee, unfortunately there are a few as follows:- money shop uncle buck peachy quid 24 cfo lending mini credit wonga total home loans quickquid 247 moneybox liquid advance quid.co.uk mem Rgds
  14. Hi Over the years I have been living on credit and had many cards/loans, trying to juggle the payments, and then got into a payday loan spiral. Regret all that happened and now am in an IVA Today, I received an email from Wonga saying that my debt is wiped out and no more to pay which is great news. Please can anyone advise me if other payday lenders are doing the same or best action to take to get these debts wiped or reduced too? Thanks in advance
  15. Hi!! I am trying to sort out my finances (many unsecured debts) and had to call up some dcas to get current balances. The one that looked after amex cc advised that it had been returned to amex and i should call them. I called and they advised that if i was wanting to set up a payment plan they assign to another dca and I would hear from them by end of week. Today, I received a letter from Amex stating they were willing to accept 40% and write off the 60% remaining as debt forgiveness? There is a time line to call them back I had not heard of this before and wondered if anyone on the forum could advise and if this is too good to be true? Thanks!
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