is this a scam?

kentguy07

I came accross a website which says it could help clear you debt off using a IVA
i dont know what one of those even are.

https://www.totallymoney.com/debt/lp20/3dg.aspx?amountunsecureddebt=6250

It says

• Freeze the interest on your debt
• Repay only what you can afford each month
• Reduce the total amount you owe
• Stop your creditors hassling you
• Avoid bankruptcy and protect your assets

all in all with what i owe the credit card the banks and lgreatuniversal i would say its over 5k.

_Andy_

Google 'IVA FAQs'

instaunt

kentguy07 wrote: »

I came accross a website which says it could help clear you debt off using a IVA
i dont know what one of those even are.

https://www.totallymoney.com/debt/lp20/3dg.aspx?amountunsecureddebt=6250

It says



all in all with what i owe the credit card the banks and lgreatuniversal i would say its over 5k.

Short version is that you end up paying less than you owe. It's not a freebie though. Like bankruptcy, future creditors are probably going to ask about IVAs and your credit file will reflect your position.

What bothers me most about these types of companies, is that the websites are filled with people smiling, like they've won some free money and are now carefree. Total wrong impression of a very serious situation and process.

recyclingbox

instaunt wrote: »

What bothers me most about these types of companies, is that the websites are filled with people smiling, like they've won some free money and are now carefree. Total wrong impression of a very serious situation and process.

can't agree more. when we had an IVA several years ago (we are now debt free) it was a very unpleasant time. constant money worries, arguments, scared of answering the phone and opening letters. and a feeling of being a failure because i had got in that position in the first place. and even now years later having had an IVA still causes issues. Very very unpleasant.

Recycler

jonesMUFCforever

An IVA is one step away from bankruptcy - go down this route and you will not get any sort of credit for a minimum of 6 years.

simon_templar_2

Better off streamlining your finances, make cut backs or if need be use CCCS or citizens advice to point you in the direction of real help and not these ambulance chasers looking to make a quick buck off peoples troubles. They make all these claims but at the end of the day they dont give a toss about helping people but to make money themselves and often out of other peoples misery.

kentguy07

What is so bad about a IVA. I mean my credit is in the red its totaly screwed and i will never get a chance to get credit again until i pay off all my debts.

i cant cut back any more then i am.

[Deleted User]

depending on your total circumstances a DRO maybe a better option,my MIL applied for hers at 3pm friday last week it was granted by the OR at 10 am today and all her payments now stopped and debt free in 12 months.

steven_garner

A few years ago i was in debt but about £4000 with 5 different company’s (including a high street bank)

I contacted a company call Gregory Pennington (I think whats what they were called) and they sorted everything out for me - they froze the interest, people stopped sending me red letters and instead of paying £400 a month i was only paying 150 (but GP took £25 per month) helped me alot and when i came into some inheritance and i could pay it all off they managed to get reduced settlement figures.
i had a really good experience with them and always spoke to the same advisor who was helpful but i may have been lucky, this all happened before it was advertised on TV and before alot of these company’s popped up.
Not too sure about your credit record, all of my debt just says "settled" doesnt mention IVA or anything.

Anyway what ever company you go with research them and compare them.

good luck.

Wutang_2

woodbine wrote: »

depending on your total circumstances a DRO maybe a better option,my MIL applied for hers at 3pm friday last week it was granted by the OR at 10 am today and all her payments now stopped and debt free in 12 months.

MIL, DRO, OR, IVA....

Thats cleared that one up

competitionscafe

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