Creditfix Annual Review

I am currently in an IVA with Creditfix, just had my 2 year review and I have a question for any current/former clients of theirs.

I gave over my Income and Expenses both last year and this year in line with the agreement, however upon receiving my Annual Review Statement Email, in a section dubbed "Clients Income & Expenses" they stated they had not received my I&E and we're pursuing me for that information.

They do have this information as they called me to confirm some details relating to my I&E and asked about reducing some expenditure to keep my payments the same, even though I mentioned I had reduced spending elsewhere to pay extra towards the monthly payments.

My question is, should I be worried that my Creditors could be unhappy with the supposed lack of I&E provided?

Thanks in advance.

Comments

  • fatbelly
    fatbelly Posts: 20,240
    Name Dropper First Anniversary First Post Cashback Cashier
    Forumite
    edited 23 October 2023 at 11:06AM
    It's hard to say why Creditfix have written that. I suspect it's in their template and no-one read down far enough to see that it should be changed.

    Probably none of the creditors will read it either.

    Creditfix are a huge IVA factory so not a lot of time seems to be spent on any one case. I doubt this will cause a problem.
  • sourcrates
    sourcrates Posts: 28,548
    First Anniversary Name Dropper First Post Photogenic
    Ambassador
    Don`t think of your creditors as being happy or unhappy with your arrangement, It`s pretty much a certainty that no one actually reads these forms, they are just filed and forgotten.

    There are millions of such forms from insolvent clients, as fatbelly laments above, they are a huge IVA factory, churning out tons of bits of paper, mostly templated for ease of use, I would not lose sleep over this.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing [email protected]. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Did they not send you a login link - which basically automatically reads your bank account and performs its own I&E assessment. I think it was Experian Castlight when I did it. When it was first set up I filled out a manual I&E form with the advisor over the phone and then from that day onwards it was just a case of allowing some form of open banking arrangement to take place during the annual review. They'd then call if they had any queries.

    I found them to be OK, very rushed and no attention to detail which, to be honest, worked in my favour.....
    Save £12k in 2023 challenge #32
    Saved Total = £12,000 / £12,000
    Save £5k in 2024 challenge #32
    Saved Total = £1,184.85 / £5,000

    Secured/Unsecured loans x 0
    Credit Cards x 6 (total limit £24,250)
    Creation FS Retail Account x 1
    0% Overdraft x 1 (£250)
    Mortgage x £140,250
    Debt = £1,014 (0%APR due 22nd July 2024)

    Charity fundraising goal for 2024 = £1,000 for animal rehoming / dog fostering etc
Meet your Ambassadors

Categories

  • All Categories
  • 341.8K Banking & Borrowing
  • 249.7K Reduce Debt & Boost Income
  • 449.2K Spending & Discounts
  • 233.9K Work, Benefits & Business
  • 606.1K Mortgages, Homes & Bills
  • 172.5K Life & Family
  • 246.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards