We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
VENT & WARNING - Debt Free Direct! (IVA)
GlamGirlie
Posts: 432 Forumite
Just to vent my anger, and also to warn those considering an IVA....
I took an IVA in 2007 for various reasons. I do not doubt it was the only way out for me and do not regret the IVA.
HOWEVER... I bitterly regret using Debt Free Direct! :mad:
My last payment was in May 2012; I made all repayments on time, introduced other funds from bonuses & share save schemes, and supplied all information for reviews such as payslips and bank statements on time.
My IVA is still not showing as completed, the debts are still outstanding on Experian/Equifax and final disbursements have not yet been made.
DFD are citing legislation wrangling over the VAT treatment of their fees..... they have taken a significant sum in fees from me (the IVA was for £77k) and in my opinion have done little to earn it.
Their reports to my creditors have been late and/or inaccurate, and I have had to chase repeatedly for these reports to be corrected/updated/actually sent out.
I was told in November a final meeting of my creditors would be called to discuss the VAT problem within 28 days, and today I have received a letter stating it will happen at the end of February.
In the meantime I am being rejected for jobs because of the credit search - which should by now at least show the debts as satisfied.
My credit history will soon be updated and the debts wiped off anyway as the 6-year period will expire in May 2013.
I simply can't believe the time this is taking and their lackadaisical (sp?) attitude, especially given the thousands of pounds in fees they have taken from me.
So anyone considering an IVA please, PLEASE, don't use DFD.......
I took an IVA in 2007 for various reasons. I do not doubt it was the only way out for me and do not regret the IVA.
HOWEVER... I bitterly regret using Debt Free Direct! :mad:
My last payment was in May 2012; I made all repayments on time, introduced other funds from bonuses & share save schemes, and supplied all information for reviews such as payslips and bank statements on time.
My IVA is still not showing as completed, the debts are still outstanding on Experian/Equifax and final disbursements have not yet been made.
DFD are citing legislation wrangling over the VAT treatment of their fees..... they have taken a significant sum in fees from me (the IVA was for £77k) and in my opinion have done little to earn it.
Their reports to my creditors have been late and/or inaccurate, and I have had to chase repeatedly for these reports to be corrected/updated/actually sent out.
I was told in November a final meeting of my creditors would be called to discuss the VAT problem within 28 days, and today I have received a letter stating it will happen at the end of February.
In the meantime I am being rejected for jobs because of the credit search - which should by now at least show the debts as satisfied.
My credit history will soon be updated and the debts wiped off anyway as the 6-year period will expire in May 2013.
I simply can't believe the time this is taking and their lackadaisical (sp?) attitude, especially given the thousands of pounds in fees they have taken from me.
So anyone considering an IVA please, PLEASE, don't use DFD.......
I am employed as a manager in a financial services institution. My views are entirely my own.
0
Comments
-
Just to update you all - it is now the end of May and I STILL haven't had my IVA certificate of completion! Debt Free Direct are still stating they are dealing with it blah blah blah.
So now it seems the credit file will be wiped before they actually get around to marking it as completed!
Totally appalling serivce!I am employed as a manager in a financial services institution. My views are entirely my own.0 -
Why did you call yourself GlamGirlie?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.2K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards