CCCS IVA's?

danieln_2

Hello,

Been considering various options for a while now including bankruptcy but after a pay rise I have managed to give us more money to pay off debts so checked with CCCS site and it recommends an IVA, after all our essential bills we have £376 left over, with total debts of around £44k...

I submitted a request to CCCVA who have called to book a telephone meeting for 5th August but before I jumped in I wanted to see if anyone had done an IVA via CCCVA?

Also most of the debts are joint a few are soley mine and the same for my wife, the surplus of £376 comes from my wages my wife is currently not working due to looking after our child so I wonder would this be acceptable to use my income alone?

I just wanted to get some thoughts really, and if the CCCS were not the best option for an IVA who do people recommend?

Thanks in advance, I hope I am doing the right thing.

Daniel

speedqueenbob

Hi Daniel,

I have just set an IVA with CCCS and they have helped me greatly. The big thing is that they are "not for profit" organisation which gave me peace of mind that they won't out to rip me off and also the creditors hold them in higher esteem than the private company's doing IVA's....

I would recommend them highly.

Good luck it's not a good time for you but with their help it does get better....

SQB

danieln_2

Hi SQB,

Thanks for your comments this is most helpful, this is one of the reasons I went with them as I am concerned about people taking more money than necessary from us, and consequently making the offer to our creditors seem less!

triple08

speedqueenbob wrote: »

Hi Daniel,

I have just set an IVA with CCCS and they have helped me greatly. The big thing is that they are "not for profit" organisation which gave me peace of mind that they won't out to rip me off and also the creditors hold them in higher esteem than the private company's doing IVA's....

I would recommend them highly.

Good luck it's not a good time for you but with their help it does get better....

SQB

It doesn't matter who you do an IVA with you will still end up paying the same amount, i am on a dmp with a company that is not a 'charity' and they did a great job for me, i went to cccs and they took ages to get anything sorted, my profitable organisation sorted it asap, the only reason creditors hold the 'charities' in higher esteem is because they fund them and as a result don't do a very good job in getting interest and charges frozen for you whereas with the company im with now do a great job and look after my best interests not the creditors, also they never hassle me to increase my payments like cccs do.

thecableguy12

danieln wrote: »

Hi SQB,

Thanks for your comments this is most helpful, this is one of the reasons I went with them as I am concerned about people taking more money than necessary from us, and consequently making the offer to our creditors seem less!

all compnies that do ivas wether its the cccs payplan or profit companies they all charge the same supervisor fees and nominee fees, the fees are not calculated by the compnay but by the company who votes by proxy for the creditors, these voting companys are eversheds PWC, grant thornton, The insolvency exchange, the main difference with cccs or payplan is they dont charge for dmp plains unlike companys like bains and ernst etc, but an iva from baines and ernst will charge same fees as cccs or payplan

Deep_In_Debt

triple08 wrote: »

It doesn't matter who you do an IVA with you will still end up paying the same amount, i am on a dmp with a company that is not a 'charity' and they did a great job for me, i went to cccs and they took ages to get anything sorted, my profitable organisation sorted it asap, the only reason creditors hold the 'charities' in higher esteem is because they fund them and as a result don't do a very good job in getting interest and charges frozen for you whereas with the company im with now do a great job and look after my best interests not the creditors, also they never hassle me to increase my payments like cccs do.

I'm with CCCS and the majority of creditors accept their proposals pretty immediately and because the creditors fund them, therefore, trust their advice - and I was told that by a few of my larger creditors too!

Why pay more for a company "selling" IVA's who only offer advice in their interests and not yours?

triple08

I think what you are failing to understand is the cccs payplan etc. are funded by the creditors so whose interests do you think they are looking after? From my experience with them they don't do a very good job getting interest and charges frozen and they are constantly pestering you to up your payments, since i have been with my fee charging company my debts are going down a lot quicker, so would it be best for me to be with a 'charity' or the company i am with now who do a great job for me but charge a small management fee. I dont know if this applies to most people but i will be debt free a lot quicker with chase saunders than with cccs.

danieln_2

Thanks for all your inputs on this I didnt realise the IVA fees worked in this way... I can understand now how CCCS perhaps work differently to others....

Could anyone here give me an idea of who seems to be the best/quickest/more efficent IVA provider based on experience?

Thanks again,

Daniel