Some Advice on Iva Please

Nick38

Hi

I would like some help & advice please. My wife has bin with Byrom & Keeley for 17 months for her debts. But she seems to be getting no-where she is paying b & k £471 per month which they only use £387. They have made some agreements but some are still to be made. I am begging with her to stop this stupid company & let me take the debts on & sort them out for her as i am sure i can do a better job as they have promised her a Iva for months but there doesn't seem to be one forth comming. What i would like to know is there anything i have to do to sort them out for her direct & do b & k have to give all her correspondance back. The money they have taken is getting me down & it could be better spend on the debts thanks..

milliemonster

Hi Nick, I presume this is a DMP that you are talking about that your wife is on with B&K?, I don't know what the terms are of her DMP with them and you need to check the paperwork but please please get her to speak to one of the fee free debt charities like payplan or CCCS, they would help set up a DMP with her creditors and every penny of the money would be going to her creditors. CCCS have an online remedy form you can fill in, have a look at it and see what they suggest before you look at going down the IVA route

Deep_In_Debt

Hi
I can only echo what millie says - please contact CCCS, CAB or Payplan. They all offer FREE dmps and advice in YOUR interests and are not out to make money out of you.

CCCS will only recommend an IVA if it is suitable for you as the IVA "factories" will make a lot of money out of them.

Good luck.

Nick38

Hi
Yes sorry it is a DMP programme. I can't believe how useless this company is she has had letters as they haven't paid the creditors & still get phone calls about stuff. Can i take control myself & sort them out direct or would cccs be better i just want to take control of this & see the debts come down not feel like your getting no-where after 17 months thanks..

milliemonster

CCCS are highly recommended, of course you can take control of this yourself, but just check the paperwork as some unsrcupulous companies will charge a fee for cancelling a DMP through them and that is the last thing you need, however if they haven't been sticking to their side of the deal by paying your wife's creditors then I would argue the case with them anyway.

To be honest, I am sure all your wife's creditors would be more than happy with a DMP set up just by yourself, all you need to do is divide up the £471 a month proportionally between all the creditors and offer them this each month, they will be getting more than they are getting now anyway!

Nick38

Hi

Thanks for the advice. What would i need to do to take control & do this myself.do i ring all the companys on my wifes behalf of do i need any permission thanks.

Deep_In_Debt

Hi
Check out the National Debtline website - they have some good letters that you can send to your creditors and it explains how to work out the pro-rata payments.

I think you will need permission to deal on your wife's behalf.

Good luck.

pepe2008

£1000 a year, for doing something that a Charity would do for nothing. Please help her out of the clutches of this lot.
Good luck, think very carefully before going down the IVA route.....its not the easy way out thats its marketed as, marketed being the operative word here.

Deep_In_Debt

Yep, just echoing what pepe says - IVA's are not what they are cracked up to be. In fact, they are money making tools for many companies. Do look into it very carefully before proceeding as many will result in bankruptcy...just check the Bankruptcy and Living with It forum and you'll see what I mean...

JOHNSTONE1

Byrom and Keeley are the absolute pits, please no one ever use them for a DMP. My husband made the mistake of using them and not only did it not get him anywhere he actually ended up worse off and they paid late and for 5 whole months paid the wrong company all together who my husband doesnt even have an account with!

In the end i took over dorted all the creditors out myself and everything is going swimmingly. My husband had to give permission to the creditiors to speak to me but now i deal with everything. We didnt even inform B & K we just stopped paying them. If they start getting shirty about it i will point oput all the money they have cost us!

Good luck it cant be any worse than what she is doing now and creditors will far happier that you are not using a fee charging DMP.