Letter in post this morning

Stressedoutmum_2

Hi, I'm new and currently very stressed!! I hope you wonderful people maybe able to offer some advice.

In December 2009 my husband and I entered into an IVA. All was fine until I had this letter today. It is from a company in S!!!!horpe asking me to call them as they had "important information" for us. I googled the name and they are listed as a debt advice company. I rang and asked who they were and why the were contacting me. Apparently they are contacting everyone who has entered into an IVA in the last 12 months as there maybe issues with the debt?! They have asked if someone can call to the house with a bundle of paperwork and show us how we can leave the company we are currently with and save money each month on the money we pay back to creditiors.

Has anyone else had this? Am I naive to think the world is full of kind people who just want to help? Or have I just had a chat with the devil?

:A

Charco_2

You've just had a char with the devil.

The original letter you received is from a company doing a fishing exercise. They throw out enough hooks and bait and look offical and so people bite. They know nothing about your finances EXCEPT that you entered into an IVA a few months ago... these companies are able to get your contact details very easily off the insolvency register.

The usual reel/advice is

"Oh my God, they entered you into an IVA? That sounds like mis-selling to me! We can extricate you from your IVA and put you into a more manageable debt solution... for a fee!"

The solution then is to pay them a large sum of money so that they can "fight" your IVA company to get you out of your IVA (In actual fact if you want out of your IVA then you simply stop paying and you will be failed within three months).
This is followed up with them doing something clever like getting another fee out of you and talking you through bankruptcy... which if you want to enter BR you can do without paying ayone any fees, it costs £510 and you can get that advice for nothing!

If you're happy with your current IVA, stick with it. If you're having problems (surprise bills, change in circumstances, budget too tight) speak to your IP first to see if anything can be done.

Do not speak to cowboys! And certainly don't let anyone call to the house!

debtinfo

Yes if they call again remind them that the Insolvency Service has stated that companies like his should not be using the INsolvency Register for commercial purposes and you have a good mind to report them.

Google a company called UKBankruptcy who were closed down by the secretary of state (the government) last year in the public interest as they were doing something similar

Nargleblast

Absolutely right - these firms pick names off the Insolvency register as a marketing exercise, they are touting for business to make them profits and do not give a monkey's about your situation. Avoid like the plague.