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Knightsbridge/CreditFix IVA - treated me very badly - thinking of BK now - help

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Hi everyone,

have read great things about this site for help and advice for all things debt and money related!

 

Long story short for me,

 

I've been on an IVA for 1.5 years now.

Last September I enrolled at University (should've done it when I left school but hey ho, lessons learnt)

 

I receive the full amount of maintenance loan to support my studies.

I haven't had a review of my IVA since receiving this money.

Obviously my wages have decreased by about £500/mth to allow me time to study.

 

I'm not happy with my IVA now.

It has recently been passed to another provider as my existing insolvency company 'sold' our account to another.

 

This new company is worse (to contact and deal with) than the original and they were terrible!

 

I have also had some independent advice and have been told that we were possibly mis sold our IVA in the first place and that Bankruptcy was probably a better option for us at the time.

 

 

I have seriously been considering bankruptcy lately.

I have a few questions that I wondered if you lovely people could help me out with;

 

We currently have about £13k debts,

is bankruptcy worth going through for this kind of amount and what would be involved in the process

-what do they mean when they say they have control of your bank accounts and you need to ensure you have enough money for basics..?

 

When filling in the application-the income section, is student finance included in this? I've read and heard conflicting information regarding this.

 

If we stayed on our IVA

-same question as above is/should student finance included in my income

(Ive heard and read that student finance and disability payments and the likes shouldn't be included as 'income')

 

especially in the case of student finance as this is a loan which will need to be paid back and is for studying.

 

Looking at my finances

-income and expenditure

-I have around £185 disposable income a month

(not including student finance)

 

what are my other options for managing my debts if I decide not to go down the bankruptcy route and still want to leave my IVA?

 

I am so sorry for all the questions,

this is just something I really need to get sorted as it is really stressing me out and impacting on my studies and everyday life tbh...:|

 

Any help greatly appreciated.

Lyndsey

Edited by dx100uk
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Cancel the IVA now

They are never a good idea

And I bet your debts are mostly consumer credit owed to powerless DCA's anyhow

 

List them please


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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

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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Thanks for your reply.

Our debts include;

3x capital one credit cards-£3.5k

1x MBNA credit card £3.8k

3x catalogues £2.5k

EON £250

Council Tax £550

HM Revenues and customs £270 (overpayment of tax credits)

 

A few smaller ones amounting to around £1k-cant quite remember where they were from

 

I also have a couple to dispute with the IVA people now I'm looking at it

 

-they took over a claim for PPI which was going through as we entered into the IVA and have listed the companies fees as one of our debts

S

-they never received the funds from the company and surely these fees should've been taken out of the award not added to our IVA?

 

Also I see a debt for £1100 from Council and I have no idea where this has come from-this is not something I am aware of.

Thanks for your advice

Lyndsey

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Sadly the IVA co and their CMC mates have fleeced you blind as they always do

 

Please name them


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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

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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We were with Knightsbridge until they sold us on to CreditFix-both absolutely shocking!

 

They give false advice too-hence me signing up on here to try and get correct advice.

 

Thanks

Lyndsey

 

When you say cancel the IVA now, do I just call them up and tell them to stop taking payments? (They take our payments automatically using card payment) and which option do you advise next...?!:?::???:

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ring your bank

cancel the card

and whilst on the phone

 

get them to cancel the continuous payment authority to BOTH of them

cancelling the card alone is not good enough.

 

they might cancel the CPA with card cancel too.

 

get an sar off to the fleecers too.

 

I bet 90% of your money went in their pockets.

 

oh god that lot

how did you find out about them

wasn't Watch portfolio DMP was it?

 

you'll need to deal with

Council Tax £550

HM Revenues and customs £270 (overpayment of tax credits)

 

in new threads and tell us the story of each

 

use the HMRC forum for that

 

and the ctax forum for the otherone


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

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

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

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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Which lot? Knightsbridge or CreditFix,

 

ive heard horror stories about both!

 

Well we didn't choose Knightsbridge we were referred there via a different company-cant remember their name.

 

And CreditFix well we had no option there....our case was sold on to them!

Cant say I'm impressed though :|

 

Please forgive my ignorance but what is a SAR-I read the linked thread but still didn't understand what sending in a SAR would achieve?

 

So, I cancel my IVA on Monday....then what?

 

I suppose I'm just a little confused as to my options.

 

Reading though a few of the posts on here about bankruptcy I feel so silly going through it for such a small amount,

 

just don't want to go back to getting creditor letters and demands and with some of my accounts now with collection agencies I just don't want the hassle from them...

 

If I cancel my IVA what happens to the funds we have paid in,

 

does it get distributed to my creditors?

 

ept by the IVA company?

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DCA's are NOT BAILIFFS

most IVA providers are eX DCA's employees or visa versa or the Co's are linked to them

same as most CMC's that do PPI reclaims..all out to fleecer you blind.

 

I asked you earlier were these debts with DCA's ..that's why..you didn't answer..

 

an sar gets you everything your IVA providers hold on you and have done for you and where YOUR money went.

 

you need to get ALL the info you can to help us get you out of this mess you've signed up too.


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

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

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

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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Oh right I see, sorry, didn't realise that's what you were asking!

 

Yes the majority of my accounts are with DCA's. Apart from Council Tax and Tax Credits.

 

I have RBS@Eversheds,

Arrow,

Lowell at TIX.

 

I think I recall my Avon account going to a DCA too (this statement I have is from my last review in August).

 

what does that mean if my accounts are with DCA's, in terms of my next move when I cancel my IVA?

Do I have to contact them directly to make a payment plan with them?

 

Thanks

Lyndsey

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no let it fail

let them chase you

then we'll ask them if they have the signed agreements you made years ago 90% don't

and are simply fleecing you.

 

why do you think the original creditors sold these debts>>>probably because they are all mostly made of penalty charges

 

I've moved your thread to the debt management company forum

read a few threads here

you'll get the idea.


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

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please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

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

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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I've been in touch with CreditFix.

Its hard flipping work;

a, getting through in the first place and

b, getting them to answer any direct questions!

 

I asked them why I had the charge on my IVA for the PPI claim that they never received,

they couldn't answer the question and have referred it to another one of their departments

-I'm supposed to be getting a phone call about it..

.nothing as yet!

 

I feel I could do with staying with them until they have sorted this out for me as I don't want the hassle of tackling the PPI claims company and trying to prove that the IVA company never received the pay out etc.

 

I'm still seriously considering bankruptcy.

And would like to cancel my IVA asap.

 

I'm just a little worried about doing this tbh...

Weve been on countless DMP before finally ending up with this IVA

and it all just seems so confusing and complicated to me.

 

IF we did take the plunge and go through the bankruptcy application;

what would happen... I mean, what is the process?

 

A friend of mine went through it and said that she was on the phone for over an hour to them going through everything but then other people I have spoken to have said that would only really happen with debts over £100k..

 

We have 3 vehicles in the household, we have 2 cars and a motorbike

(the motorbike is my husbands main mode of transport but we always pick up a cheap car in winter when he cant commute on the bike), would any/all of these be at risk of being taken-values are; £2000 for one car, £1800 for the bike and probably £300 for the second car.

 

Sorry for all the questions, I'm just so confused by it all...

 

Thanks

Lyndsey

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have so you done anything yet advised in this thread?

other than waste you time ringing them

which is not what was advised.

 

there is no need to go BK over the debts you have.

 

you don't even know if they are enforceable!!


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

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

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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

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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Actually, I did call my bank to cancel the card as you advised and they told me to contact the company concerned as cancelling the card (and the regular payment) wouldn't necessarily guarantee that the company couldn't set up the payment again (depending how determined they were to take a payment-which I'm guessing they would be quite determined).

 

So I did follow your advice.

 

That's why I called CreditFix initially and thought I would query the other matter whilst I had them on the phone.

 

Most of my debts are pretty recent (the last 3/4 years) so I didn't think the unenforceability would be an issue.

..have they not cleaned up their act in recent years and done things by the book?

I apologise if this is wrong and that when they are sell on to dca they become unenforceable.

I do appreciate your advice and have tried to follow it.

 

Like I said before its all just quite confusing to me and I worry what would happen if we just drop off our IVA,

I don't want to go back to paying into a dmp again and wouldn't know where to start with communicating with the dca...

 

Obviously you are very clued up on all this so it's second nature for you.

I am trying to learn the processes but don't get a lot of time to research stuff....

hence coming in here, hoping for some friendly advice...

 

Thanks

Lyndsey

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so back to post 6 then.

 

whomever you bank is

they are talking bowlarks

go cancel the CPA these IVA providers have

TELL your bank they are NOT to set up any payment plan to them again without your express written authorisation

its YOUR MONEY

take control.

 

the only 3 debts you need to worry about are:

EON £250

Council Tax £550

HM Revenues and customs £270 (overpayment of tax credits)

 

if you cancel the IVA that should well cover those

phone each up

and make a deal with them.

 

the rest of your debts are:

3x capital one credit cards-£3.5k

1x MBNA credit card £3.8k

3x catalogues £2.5k

 

which are all consumer credit

now sold to DCA's

one wonders why they sold the debt for 10p=£1

when they could have taken you to court themselves for the full whack and crushed you...urm..worth thinking about eh?

 

once the IVA is crushed

we can easily deal with those as the forest comes through you door. on an individual debt by debt basis


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

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

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

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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So... when you say 'when I cancel the IVA that should well cover them' will we get money back from the IVA to make some settlements,

 

I assumed it worked like a dmp where money was sent to the creditors every time we make a payment (again, sorry for my ignorance).

 

And now you say it like that,

I guess I understand it a little more-about selling the debts for 10p/£1.

 

I just assumed they sold them on because they didn't want the hassle of chasing payments etc...

 

Thanks

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pwell until we see the sar data we don't know if anything is due back

but if you fail the IVA then any PPI claims are yours

they don't go into their pocket or their old mates pocket

as that's one thing you need to prove

 

where DID that PPI reclaim money go

you indicate £185PCM left

 

thats MORE than enough to service ALL the PRIORITY debts you have and most prob leave you with some of that left.

 

how much are you being fleeced PCM on the iva


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

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

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

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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We currently pay £93/mth but this is due to go up to £270 this month as a HP agreement has come to an end.

 

We were going through the process of claiming our PPI back through claims advisory group before we signed up to the IVA.

 

We got confirmation of two claims just as we were entering the IVA.

The bank that were paying the claims advised us that they would have to deal directly with the IVA company.

 

We sent all the info to Knightsbridge as it was then.

They received the smaller claim of a few hundred pounds but the bigger claim of £3k they never received

-however fees of £1100 from the bigger claim are now added to our IVA...!

 

I think the situation is made even more complicated because we have now been moved across to CreditFix who don't have a clue about how or why these claims advisory group fees are on there or what happened to our claim money..

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eh? why should your iva payments double because an hp agreement has ended!

 

god get of their clutches quickly.

 

not sure who's your bank but if they have 24/7 phone banking go cancel the CPA NOW!!

if the wont tell then to go read the FCA CONC rules which clearly state they MUST action your request immediately

 

as for claims advisory group £1100 fees my god you can do it yourself for FREE with ONE LETTER!

 

sorry but you've been had blind by claims advisory group and these fleecing IVA providers

I bet 90% of what you've paid them never even saw its way off any debts

 

SAR time too ASAP.


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

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

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

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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I posted a while ago on here about my situation, which, unfortunately has gone from bad to worse.

 

My husband and I are now on the verge of applying for bankruptcy, but something is telling me to try f&f settlements with our creditors first (although we would only be able to offer around 15%).

 

So, all in all, we have around £25k worth of debt between us, pretty evenly split, this comprises of;

credit cards,

catalogues,

PPI claim company fee (I never received the payout but they still require their fee) and

a mortgage shortfall of around £4500

(following voluntary repossession in August last year).

 

We have been in an IVA, but this failed in December last year

(following advice not to pay it-as bankruptcy would be our only option after the voluntary repossession anyway).

 

My hesitation regarding bankruptcy mainly comes from the fact that on paper our joint earnings just about cover our monthly expenditure,

 

however I do receive a student finance maintenance loan (as I am a fulltime student), which, on paper would provide around £700/month, although this isn't really the case as there are costs involved with being a student-books, parking, travel etc and we find that we don't really have any spare for 'luxuries' like holidays etc. 

 

Ive read conflicting info regarding student finance and whether the OR counts it as income or not etc.

I have even been advised not to tell them about it or the bank account that it is paid into,

although this doesn't seem right to me,

surely they would need to know about it or would find out anyway.

 

My main worry is that they would see this payment as surplus and want it as payment towards the bankruptcy,

when in actual fact that would leave us really struggling with day to day living costs and it is a loan which,

one day,

I would have to start paying back.

 

I absolutely take full responsibility for our debts,

we have made some really silly decisions and ended up in the situation we are in now.

 

And I absolutely understand that the debts shouldn't just disappear if we can afford to pay in towards them for a while etc....

 

however, I'm just worried that going bankrupt might make our situation even worse.

We're already both suffering from stress, anxiety and depression because of the situation.

 

Thanks for any advice you can offer.

 

Lyndsey 

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We managed to get a rented place after our voluntary repossession.

Thanks

Lyndsey

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old and new threads merged,

 

so where are you upto with cancelling the DMP and getting all the info you were asked to do?

go back to post one right up the top and re read the now merged topic.

 

please then update on what you have done.

 

there is no need at all to go BK when most of your debts are simply failed consumer credit.


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MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

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

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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As stated in my new thread, our situation has changed somewhat (hence why I didn't do what you have done here and add to my previous thread).

 

We were never on a DMP. We have gone through a voluntary repossession, our IVA has now failed and we have been advised (by a few 'experts') that BR is our 'only option'.

 

My current situation and queries relate to the thread I created today.

 

Many thanks

Lyndsey 

 

 

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so what are you debts please

and are you looking at any shortfall.

shame you didn't come here for advice on the VR, we might have been able to minimise your loss or even stop you having to VR, that's never a good idea.

 

dx

 


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

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

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

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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So, we have ;

£14k on credit cards (Capital One, Barclaycard, Fluid)

£4.5k catalogues

£200 EON-not current provider

£600 Coop energy-not current provider

£1100 for the PPI claim company fee (the payout I never received-so would dispute this 'fee')

£200-misc (a training provider and insurance 'cancellation fee')

£4.5k-mortgage shortfall (property is now sold and we have a letter to state that this is the shortfall-it was a shared ownership property)

 

We have had very poor advice over the past year or so. Only now am I realising that the person we had trusted as a 'debt solutions advisor' and took about £700 of our money, was in fact a fraud-targeting vulnerable, desperate people, that have reached rock bottom.

 

Like I said in my previous post, I take full responsibility for the mess we are in, but am just desperately trying to find the best solution now.

 

Thanks

Lyndsey

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