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How long does it take to close an IVA down?

 

I cancelled mine end of July 2014, and haven't made any further payments since.

 

The creditors meeting to cancel was held in December 2014.

 

I feel that Debt Free Direct are dragging this out so I can't sort my debts out.

 

Its been 9 months and no sign of the failure certifiate.

 

Is this normal to take so long?

 

Each time I ring them I am fobbed off.

 

What can I do?

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Thread moved to the appropriate forum.

 

If you cancel your IVA then you will receive a certificate of default and failure. Your creditors will be informed of the IVA failing. It won't be long before creditors will want to know what you propose to do about the outstanding debt. The most likely next step is to look to bankruptcy to solve the debt problem.

 

However it may be possible to come to an arrangement with creditors informally or to make use of a Debt Management Plan, to make some repayment on the debt. This may be appropriate if you believe your financial circumstances may improve in the foreseeable future.

 

You need to keep chasing them Lucky...not that it will make much difference ( with or without certificate) on how you intend to proceed in dealing with the debts.

 

Andy


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What are the debts please?

 

Who with (Orignally)

Who owns the debt now? DCA?

Type of debt?

Rough amount?

CCJ'd or not?

When account was opened?


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The SabreSheep, All information is offered on good faith and based on mine and others experiences. I am not a qualified legal professional and you should always seek legal advice if you are unsure of your position.

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threads merged

 

 

dx


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hows the reclaim going


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I asked Debt Free Direct back in July 2014 to cancel my IVA as I had been part assessed for a DRO through national debtline.

 

I telephoned them to ask for the IVA to be cancel to which they agreed to do.

 

Its now been 9 months, and the IVA is still active, and I have last week received a letter from DFD refusing to close the IVA down saying that they still want to help me with my debts!!!

 

WTF is the point of keeping this open when I have told them I qualify for a DRO and have no more money to pay the debt off!!

 

I just cannot understand why they are being so uncooperative!!

 

They have also lied about the level of debt I am in.

 

They are claiming I owe Halifax £10,668 for a personal loan, yet Halifax sent me a letter in January saying its outstanding by £6,701.32p.

 

I have had enough of them and dont know what to do now, why drag this out?

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You must send a letter to their Registered Head office - tracked mail and confirm that you qualify for a DRO and that you insist they cancel the IVA.

 

You can also ask that they send you a fully made up statement of account as to what they consider is outstanding. You might have to send a Subject Access Request to obtain this information.

 

If they continue to be awkward, then you are going to have to let them know you will be escalating your complaint to the Financial Conduct Authority.


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You must send a letter to their Registered Head office - tracked mail and confirm that you qualify for a DRO and that you insist they cancel the IVA.

 

You can also ask that they send you a fully made up statement of account as to what they consider is outstanding. You might have to send a Subject Access Request to obtain this information.

 

If they continue to be awkward, then you are going to have to let them know you will be escalating your complaint to the Financial Conduct Authority.

 

Thank you very much.

 

I might have to do that.

 

What about the fact that DFD have said that the loan is outstanding by £10K and yet Halifax have said its £6k?

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If Halifax is advising the loan is only £6k then that is the figure you give to National Debtline.

 

You could ask in your letter to DFD where they have obtained that figure from and if they don't provide a satisfactory response, then it would form part of your claim to the FCA.

 

It does seem rather odd that there is a £4k difference to what Halifax have advised ?


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If Halifax is advising the loan is only £6k then that is the figure you give to National Debtline.

 

You could ask in your letter to DFD where they have obtained that figure from and if they don't provide a satisfactory response, then it would form part of your claim to the FCA.

 

It does seem rather odd that there is a £4k difference to what Halifax have advised ?

 

This is why I am confused myself.

 

The letter from Halifax was January this year and confirms the loan is currently outstanding by £6,701.32p.

 

I might have to write to DFD to demand that they close the IVA down, I sent them an email last week regarding that I have been part assessed for a DRO and cannot proceed until they close the IVA down but the are being very uncooperative.

 

I will send them a letter tomorrow demanding to know why they wont close the IVA down, and how they have come to the loan being outstanding by £10,668.00 yet Halifax say otherwise.

 

I will inform them I shall take appropriate action if they keep fobbing me off, I have not paid into the IVA since June 2014, so I am bemused by the whole situation.

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You could have a word with National Debtline also and ask if they have any suggestions.

 

Short of pointing out to DFD that if you are suitable for a DRO then they have misled you for profit, in setting up an IVA. I am not sure what else you can do..


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2: Take back control of your finances -

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3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

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5: Forum rules - These have been updated -

Please Read

 

 

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2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

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You could have a word with National Debtline also and ask if they have any suggestions.

 

Short of pointing out to DFD that if you are suitable for a DRO then they have misled you for profit, in setting up an IVA. I am not sure what else you can do..

 

DFD have denied misleading me into the IVA.

 

I might go into the CAB and ask for some legal advice, and I will have to contact the Financial Conduct Authority.

 

I have paid £2790 into this, and as such they have only sent across £158 to my creditors in 2 years.

 

They have paid themselves out of this money rather then pay off my debts.

 

I am horrified that they are refusing to close the IVA down and preventing me from carrying out a further form of debt remedy.

 

I've told them repeatedly in phone calls and emails that I have no more money.

 

I will also ask national debtline what they can do as I can't send the forms back due to DFD not being cooperative.

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I have paid £2790 into this, and as such they have only sent across £158 to my creditors in 2 years.

 

 

pers I'd be giving them 14 days to refund all the money

if not its off tocourt you go.

 

 

and they used your DLA money too!!

 

 

dx


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I have paid £2790 into this, and as such they have only sent across £158 to my creditors in 2 years.

 

 

pers I'd be giving them 14 days to refund all the money

if not its off tocourt you go.

 

 

and they used your DLA money too!!

 

 

dx

 

I am going to!! DFD have refused a full refund.

 

DFD said that they have to calculate DLA as income, I disagree and told them why in my complaint!!

 

I also spoke to the recoveries department today at halifax who have confirmed that the loan is outstanding by £6,701.32p and can provide me with a statement of account.

 

They had no idea why DFD have said its oustanding by £10,668, I don't know why either.

 

I am hoping that DFD are in serious trouble exaggerating my income, and also my debt level!!

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I am going to!! DFD have refused a full refund.

 

DFD said that they have to calculate DLA as income, I disagree and told them why in my complaint!!

 

I also spoke to the recoveries department today at halifax who have confirmed that the loan is outstanding by £6,701.32p and can provide me with a statement of account.

 

They had no idea why DFD have said its oustanding by £10,668, I don't know why either.

 

I am hoping that DFD are in serious trouble exaggerating my income, and also my debt level!!

 

 

DLA is not accountable income

even the gov't and courts says so!!


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"This is an income which you receive and so must be taken into account"

 

This is their response.

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I have been in my IVA since June 2012.

 

My IVA is with Debt Free Direct.

 

For starters, what concerns me is that they took my Disability Living Allowance as income, and failed to set asside health care costs for my disabilities, which meant I was left with no money.

 

Then, they claimed I was getting in total £962 per month.

 

This is not the case, I showed bank statements to dispute this figure.

 

All they agreed to set aside for was £250 per month for vet costs as my cat is a diabetic and needs regular vet care.

 

I wrote to them a stinking letter of complaint earlier this year about the setting up of my IVA; and said lots of things in the complaint I was not happy with.

 

When they wrote back with their final response, I was horrified at the amount of lies they had told in this letter to try and cover themselves.

 

Firstly, they said that I had asked about bankruptcy and I was worried abut the affect it would have on my job and property.

 

I do not own any property, and I was on sickness benefit!!

 

Also, they said they claimed to have set aside £250 for heath care costs; I submitted an income and expenditure which I had sent into them at the yearly review setting aside £250 for vet costs.

 

I also told them in my complaint letter that I had been wrongly paying into an IVA; in July 2014 after the yearly review, I telephoned National Debtline and went through income and expenditure, they said I qualified for a DRO because DLA had been disregarded.

 

I also have concerns that out of the £2790 I paid into the IVA, they have only sent across £158 to my creditors.

 

Debt Free Direct held a variation meeting in December 2014 with my creditors to discuss about closing the IVA, they have now refused and I dont know why they have not said.

 

I could have been debt free by now if they had cancelled the IVA as I origionaly requested over a year ago.

 

So, I have now gone to the Financial Ombudsman Service.

 

Debt Free Direct have until 9th July to respond.

 

When I phone them yesterday, DFD had failed to supply the business file.

 

I have requested that I be refunded all the money I had paid into the IVA and that DFD have refused to cancel as I requested last year.

 

If DFD fail to respond with the business file, what happens after that?

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I think you need to see what the FOS have to say before you can start worrying about what happens next. You could have a word with National Debtline, they might have some idea.

 

I think Debt Free direct don't have a particularly good name and having popped in DFD complaints into google, it has come up with quite a few. One of the main problems is that they like to include DLA in your income which should not happen.


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2: Take back control of your finances -

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3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

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2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

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PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

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Reclaim mis-sold PPI Read Here

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I think you need to see what the FOS have to say before you can start worrying about what happens next. You could have a word with National Debtline, they might have some idea.

 

I think Debt Free direct don't have a particularly good name and having popped in DFD complaints into google, it has come up with quite a few. One of the main problems is that they like to include DLA in your income which should not happen.

 

Thanks.

 

I know that there was a big article in the Guardian newspaper back in 2006 that DFD were heavily criticised for dishing out IVA's to people whose sole income was benefits.

 

This is a link to the news article;- http://www.theguardian.com/money/2006/feb/12/creditanddebt.observercashsection

 

From what I gather as well, DFD are the most complained company regarding fiddling income and upping payments beyond affordability.

 

I'm going to phone the FOS tomorrow to see if they have responded for a copy of the business file, but I aint holding my breath.

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I currently have a complaint logged at the Financial Ombudsman Service regarding the setting up of my IVA by Debt Free Direct.

 

I initially wrote to them back in February this year complaining that they had over calculated my income, and had claimed my DLA was income.

 

I wrote a lengthy 2 page letter of complaint, they responded almost on the 8th week time limit.

 

There response was very poor, and had told lies which can be proven through written evidence.

 

They refused me a refund of the monies paid into the IVA; in the 2 years I had been paying into the IVA this accumulated to £2790 and that Debt Free Direct had only paid £158 to my creditors.

 

I feel that DFD did not uphold their part of the contract because they paid themselves instead of paying my debts.

 

I am not hopeful of the right decision by the FOS because I have been stitched up before.

 

DFD had until the 9th July to comply with the business file, when I spoke to the FOS yesterday DFD had sent in am email asking for an extension on the time limit.

 

I feel that DFD by asking for an extension, are trying to hide something.

 

I cannot understand why they are asking for a extension on the time limit because all they have to do is copy the file over.

 

If DFD do not comply for the business file, what happen after that?

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Hello I have Iva. I offered full and final payment have beenpaying for 3.5years. Been declined. As have equity in property and they want and additional years payment even though when I took out Iva I was told would be for th five years. I feel something is not fair here.

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you need to start a new thread

of you own please

 

 

dx


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WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

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The CAG Interest Tutorial Read Here

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