Recommended Iva Companies

nevenche

Please,woould you recommend a good financial company which will sort out my IVA scheme.I am considering Hanover Sterling but it seems the company has rather bad reviews than good on internet and I dont know any other names.
Regards

Thank you

BlueIsTheColour

I would contact Payplan or CCCS to get their free, independant advice

james32_uk

hear hear!

fermi

From the article: Debt Problems - Where to start, what to do, where to get help

The right people to go to

You need non-profit debt counselling help, in other words a one-on-one session with someone who is paid to help you, not to make money out of you. This is different to ‘free’: many commercial companies say they’re free as you’re not charged directly, but you’ll still pay somehow. The places I'd recommend are:

Consumer Credit Counselling Service - Website: CCCS Telephone: 0800 138 1111

National Debtline - Website: National Debtline Telephone: 0808 808 4000

Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest

Community Legal Advice - Website: Community Legal Advice Telephone: 0845 345 4 345

These counsellors use a variety of techniques, you may be put on a debt management plan, where they negotiate with your creditors. You may be recommended an IVA (Individual Voluntary Arrangement) or even bankruptcy (not as scary as it sounds). They will certainly show you how to prioritise the most important debts to enable you to keep food on the table and roof over your head.

Most importantly they're not judgmental, they're not there to tell you off, they're just there to help you sort out the problem. The sooner you talk to them the better. It may help you sleep at night.

Unfortunately they can be oversubscribed. If it takes time to get an appointment with them, use the info on their websites to start to plan. There may also be a local debt councillor in your area, such as Christians Against Poverty (not about religion even if it sounds like it) but ensure it is a non profit/Charity.

The wrong people to go to

Avoid any of the beasts that advertise debt help or management on the TV or in red top newspapers. They are commercial companies who simply want to make cash out of you, they don't care. While in the short term their plans will make your payments lower, in the long run it'll cost you dear. Avoid them. Don't touch them. Don’t go near them.
I think this post from the Chat Forum explains it better than I ever can:

"We, my wife and I, are on a seven-year plan with CCCS" (that's the Consumer Credit Counselling Service, one of my recommended agencies – Martin) "having recently changed from a commercial debt management company after hearing Martin on Radio 2's Jeremy Vine show. The simple action of swapping to the CCCS has shaved over two years off the length of our plan as the money we were paying the management company now goes to our creditors instead! Of course, that also means a financial saving of nearly eight grand over the term of the original plans 10 year period."

This includes IVA companies who advertise about “a little known government loophole”. While it sounds good, it’s only for a few people. If it is for you the debt counselling agencies should suggest it.

hi2gav

You need to speak with a licensed Insolvency Practitioner, the professionals whose business it is to advise on just such a circumstance. First search out on this website for info on IVA so you know that you meet the qualification. Personally i had a good experience with a firm based in North London. Google Langley Group.

wiesel

nevenche wrote: »

Please,woould you recommend a good financial company which will sort out my IVA scheme.I am considering Hanover Sterling but it seems the company has rather bad reviews than good on internet and I dont know any other names.
Regards

Thank you

Contact CCCS or NDL (National Debt Line) who will give you free independant debt advice and then if an IVA is a suitable option they will provide you details of a reputable IVA company.

Good luck

menotloopy

PayPlan are a good company I went with them for my IVA 2 years ago not had no problems with them https://www.payplan.com you could also get in contact with national debtline on 0800 808 4000 or visit the website https://www.nationaldebtline.co.uk for more advice hope this helps.

Kavanne

menotloopy wrote: »

PayPlan are a good company I went with them for my IVA 2 years ago not had no problems with them www.payplan.com you could also get in contact with national debtline on 0800 808 4000 or visit the website www.nationaldebtline.co.uk for more advice hope this helps.

Are payplan in the charity or company category?

wiesel

Hello

I don't think Payplan are a charity however here is a link on how they are funded
http://www.payplan.com/how-are-we-funded.php

CCCS are a charity and National Debt Line (NDL) are apart of a charity called the Money advice trust.

nevenche

thank you for all your kind and considerate advice.I have contacted payplan and am awaiting an assessor to give me a call tomorrow.fingers cross.i am a bit worried that because of my husband's income IVA scheme might not be for me ,even though all the debts I have got are personal.but lets see.
regards,

menotloopy

hope all goes well with your phone call interview with payplan . don't worry about it to much they are really friendly and will discuss all options with you, and will advise you if Iva or dmp is right for you .