Help!!! Just found out i've been defrauded!!!

JokerDurden

Georgia

I'm in no way an expert but from what I remember if you transfer IVAs then the original provider has the right to keep the majority of what you have already paid as their fees with whatever is remaining going to your next provider pplus it's extremely difficult to change. I really hope the outcome of this works in your favour and that everything is not as bad as what it seems.

Please as Charco says check the IVA register

GeorgiaMB

Charco wrote: »

I'm fearing the worst here!




JUST READ YOUR POST ABOVE: Can I just reconfirm to you that WG are NOT registered Insolvency Practitioners. There is a company based around Manchester called Knightsbridge something or other who ARE Insolvency Practitioners but I'm willing to bet it's not the same company!

Oh no! I would like to swear at this point as you may well be right! I will have to thoroughly check my documents but I was led to believe this WAS an IVA... the documents WG sent me originally had IVA plastered all over them.

If I wasn't a polite person, I would swear! Though I know my creditors have been paid - I still receive monthly credit card statements from Natwest which have been happily going down by the amount WG said they would pay them. So I've been happy with them up till now.

Does this mean though that I can quite legally and happily cancel my agreement with them and take up an IVA elsewhere, without a court order?! If so... I'M OUT OF THERE!

Yes, WG are NOT IVA practioners (though on their website williamgoldberg.net they CLAIM to be able to provide you with both an IVA). But when I called the IPU and asked them which regulatory body Knightsbridge were registered with, they "stared" at me like I had 3 heads (hard to do down the phone, I know but that's the impression I got) and said "we've not got anyone called KB or WG registered with us at all. Though it's funny that the KB I'm dealing with ARE based in Manchester too... but to be honest I think it's a fradulent company using very similar details to a legitimate company.

If you check out Company's house you notice that Knightsbridge Financial Consultants Ltd were originally called William Goldberg Financial Consultants Ltd (the WG I originally took out the DMP/IVA with are simply called William Goldberg Ltd). My guess is they are piggy backing on legitimate companies and convincing said company's customers that they are who they say they are by using very similar but NOT identical names. Which might lead those of us without financial/company know-how to believe they are a legitimate, licensed IVA provider.

But I also believe what you said about some little turnip head (would like to use stronger language but can't) stealing client info and passing it on - that's what my solicitor reckoned had happened.

:mad::mad::mad::mad::mad::mad:


Question is... WHAT THE HELL ARE WE SUPPOSED TO DO NOW? BOTH COMPANIES ARE FRADULENT AND I'M TIED INTO A CONTRACT WITH ONE OF THEM, JUST HAVE NO IDEA WHICH ONE!!

PS. I can't afford a solicitor - the one I keep referring to is the one CAB contacted on my behalf for a free half hour consultation. Do you suppose the best course of action would be to return to the CAB and ask them what to do?

Charco_2

Gone check for your details on the link above for the Insolvency Register... Until we know for certain - (I'm 99% certain) - if you're in an IVA or not we can't get our heads around the situation!

GeorgiaMB

I've checked and I can't find myself on there, which would suggest this ISN'T an IVA?

JokerDurden

Does anything appear on your credit reports?

When my IVA was agreed it went through the court and was therefore placed on the IVA register and is showing on my equifax credit report.

Charco_2

If it's not on the Insolvency Register then it's not an IVA... regardless of credit reference agencies! Your credit file will show defaults whether its an IVA or DMP because you have not been making your contractual payments.

The Good news then is you can simply walk away from the (non)solution!
The Bad news obviously is that to start an IVA you would be starting back a square one with five years ahead of you... but what else is there? Can you afford to simply take your debts back on yourself?

GeorgiaMB

You are of course right Charco, I am glad I can walk away from them and no, I cannot afford to take my debts on myself.

What's the best course of action now? Write to each of my creditors and ask what I owe them? (not sure anymore as I think WG have been paying one or two but not all). I've been unwilling to contact my creditors directly because they start hassling you for money (or at least that's what WG said they would do).

When you say "starting back at square one" do you mean that NONE of the money which will have gone to my creditors via WG will be counted? The idea of an IVA affecting my credit rating does not concern me in the slighest - after all for the past year or so I've been assuming I have an IVA and therefore living like it (not applying for loans, budgeting like a maniac, making the payments religiously and watching my bank balance like a hawk). I also cannot get credit anywhere so that will not change either!! Plus, if the average life of an IVA is 5 years, that's brilliant... my current plan with WG lasts MUCH longer than that! And by the sounds of things an IVA will be regarded more favourably than simply defaulting like no man's business on all the money I owe! Can I actually get an IVA though? When I took out the plan I only owed £9K. I think I read somewhere that the threshold for IVAs is something like £15K?

The only blessing is, true to their word WG HAVE gotten all the interest frozen on all my credit accounts.

Charco_2

Everything you've said has been a description of a DMP... the monthly statements, the frozen interest... Why did they make it sound like an IVA???

If they've been paying money towards your creditors then that money will count obviously, if interest and charges have been frozen then so much the better!

How long was their plan supposed to last?

spaceman5

[QUOTE=Charco; There is a company based around Manchester called Knightsbridge something or other who ARE Insolvency Practitioners but I'm willing to bet it's not the same company![/QUOTE]

i know there is a company in manchester called kingsgate, part of the churchwood group of companies, if that is who you are thinking off

GeorgiaMB

Charco wrote: »

Everything you've said has been a description of a DMP... the monthly statements, the frozen interest... Why did they make it sound like an IVA???

They sent me a folder with everything in... contracts etc. No mention of a DMP was made (I don't think - will have to thoroughly check the SP when I get home) but all over the folder was info about what an IVA was, how it works etc etc. They never blatently said " you are entering into a Debt Management Plan" it was termed "the agreement".

As for your question about how long the plan was supposed to last... off the top of my head I think it was at least 9 years, possibly 12. But again, I will have to check when I get home.