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Letter from DFD

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245

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  • rizla_king
    rizla_king Posts: 2,895 Forumite
    What a bunch of lowlifes trying it on like that.
    Still rolling rolling rolling...... :) <
    SIGNATURE - Not part of post
  • UpToMyNeckInIt
    UpToMyNeckInIt Posts: 884 Forumite
    Part of the Furniture Combo Breaker
    22cuddles,

    As you have already attempted equity release - and failed (getting the extension instead), you should not be require to undergo that rigmarole again.

    Get WRITTEN CLARIFICATION from your IP that this indeed will be the case.

    DFD seem to have a reputation for dumping secured loans onto unsuspecting customers, so better safe than sorry.

    Aside from that, it sounds like DFD are willing to complete your IVA with PPI pending, thus speeding up the completion process. So if adopting the new terms means getting your hands on your completion paperwork sooner, then great. JUST MAKE SURE YOU UNDERSTAND WHAT YOU ARE SIGNING.

    If in doubt check with your IP (not a case handler), and get their reply in writing to cover yourself.

    Good luck.
  • longtermplanner
    longtermplanner Posts: 1,442 Forumite
    I completely agree. If DFD are prepared to put in writing that they do not propose to revisit the subject of equity release if you sign this, then fine. Otherwise, no way.
  • JP4
    JP4 Posts: 1 Newbie
    Hi All.
    I recieved the same confusing letter today. I have 4 More payments to go and for some reason have the feeling that the goal posts are trying to be moved.

    Ive read it and re-read it a number of times and find it baffling.

    I was going to call DFD to get some info but never have much confidence in what the people i speak to half the time. Also the premium rate number and being left on hold annoys me!

    Any other insight / info would be most helpful. Its sounding like signing it isant a good idea.

    Cuddles22 - It will be interesting to hear what DFD have to say.


    Jon
  • 22cuddles
    22cuddles Posts: 115 Forumite
    Hi all,

    Thanks for the further input. I will let you know the outcome of my conversation with DFD. Another payment should have cleared by the middle of next week so I'm really reluctant to do anything that's likely to delay completion. At this moment in time it's a case of working out whether a greater delay will be caused by agreeing or not agreeing.

    Have a good weekend.
  • longtermplanner
    longtermplanner Posts: 1,442 Forumite
    22cuddles wrote: »
    At this moment in time it's a case of working out whether a greater delay will be caused by agreeing or not agreeing. .

    The real problem is the possibility (however faint) that DFD are trying to move the goalposts by getting you to sign this. If they are then the downside is not a longer delay but potentially very costly.

    Unless I had it in writing that they will not ask you to get a secured loan, then I would not take the risk. A few months delay really doesn't matter when set against that.

    So if your conversation with them goes well, ask them to put it in writing!
  • 22cuddles
    22cuddles Posts: 115 Forumite
    Just a quick update. Awaiting written confirmation but as I have already had a review for equity release this part has been satisfied and so no further equity release would be expected of me. Bad news is, according to their records there are still two creditors who haven't settled regarding PPI :( However, she did say that there is a meeting being held in April regarding PPI and getting these issues settled outside of the IVA itself (not specifically for me but for IVAs in general) so there is hope for others in a similar situation.
  • Find_The_Real
    Find_The_Real Posts: 493 Forumite
    Thanks for the update 22, although I am probably being a little stupid but if they are call a meeting in April to sort out the PPI issues, why are they requiring you to sign to change the terms now?

    Wisdom comes from experience. Experience is often a result of lack of wisdom.
  • 22cuddles
    22cuddles Posts: 115 Forumite
    Because there is a possibility an agreement might not be reached during the upcoming meeting, in which case closure of my IVA (and others) could still be held up by PPI issues.

    ETA: I still haven't signed anything yet.
  • Depth_Charge
    Depth_Charge Posts: 970 Forumite
    500 Posts
    edited 1 March 2014 at 1:46PM
    Anondebtadvisor wrote: »
    I wonder how many other people will agree to the variation terms incorporating the 2014 Protocol without realising what they are agreeing to?

    Years of payments into a high interest secured loan after they have completed their IVAs................

    Hi

    I was wondering -

    Do you think DFD & other providers and reps of the IVA Industry should make a full and precise statement on the kind issues raised in this thread to settle matters once and for all.

    I think this type of question is very close to being asked by some sections of the debt advice sector

    DC
This discussion has been closed.
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