IVA- who did you choose &why ?

struggler

FavDaughter1 wrote: »

That's very helpful,thankyou. we've been looking at her,Grant Thornton and McCambridge over the last couple of days.
I appreciate the responses,it's difficult with no experience at a time when so stressed.

I had an initial conversation with GT but found out that "junior" staff conducted the initial process over the phone, and had me send SOA in the post. Mc Cambridge Duffy had a more personal touch and I was lucky enough to have a face to face meeting with the IP who eventually helped me secure my IVA, which was for a full and final settlement over one year. The process was most professional.
McC D have several offices in the UK if you Look them up

taplady

we used a company recommended by the CCCS - this was BakerTilley which became Debt Lifeboat. They were very good and we completed our IVA a few months ago without any issues.

Barkley_2

struggler wrote: »

Mc Cambridge Duffy had a more personal touch

McCambridge Duffy are my IP and I can not fault them. From the first telephone call to any follow ups, they are very helpful. No up front fees and my completion was done within 6 weeks :T

Moi_63

We are with CCCSVA as of yesterday (creditors meeting approved our proposal with minor modifications).

We choose them because they have a reputation for being successful with IVA applications and, it may sound odd, their relationship with the banks.

Charco_2

Sounds odd indeed. Glad you're on the road, head down now and stick it out!

Moi_63

I know what you mean.

We just figured that if we went with them it would go through, since they set guidelines and are part funded by the banks (as per your sig). Once we had committed to going down the IVA route we wanted it to go relatively smoothly. The four months leading up to the meeting were an absolute nightmare. We didn't like the idea of possibly having to start over with someone else.

The odd thing is though TIX (who represented over half of our creditors in the end) pretty much demanded a 13 pound uplift despite our proposal being within CCCS guidelines.

Funny old world.

Max_1066

My one-off IVA was completed in June 2010 using Grant Thornton. I was referred to them via CCCS as I'm deemed to be self employed and so couldn't use CCCSIVA. It was a constant battle and to be honest their knowledge of accounts was appalling - for an accountancy company. It took over a month to receive the draft proposal and then they kept changing the person looking after it. It finally went to a creditors meeting in mid March - over three months after I first contacted them. As I'd previously been in a DMP the income and expenditure were pretty much sorted so there was very little to do on that front.

The only time GT started to respond was when I threatened to go elsewhere and gave them 24 hours to produce the draft proposal. It appeared via email the next day.

GT insisted I should offer £14k as full and final settlement, I offered £12k and it was accepted. I still suspect I could have offered even less. It then took GT from mid-March until the beginning of June to complete the IVA despite having received the money within a few days of the creditors meeting.

I had intended to submit a formal letter of complaint to CCCS and GT however to be honest I was glad to see the back it.

It's interesting to note that CCCS received approx £800 from GT as part of the settlement, make of that what you will.

Facing an IVA is a very stressful time and you want to make the right decision which is added pressure. I would suggest talking to a few IVA companies once you have the basics sorted out and then go from there. GT were very pushy and kept ringing up to arrange for some one to collect the initial paperwork - clearly a sales driven company.

Good luck .... it'll be worth it in the end.

FavDaughter1

Thankyou all so much for taking the time to reply. it does feel like a mine field to us at the moment.

Having this forum has been such a huge help, untill a couple of weeks ago i'd never even heard of IVA's or DMP OR f&f offers!!! Hearing from others who have personal experience of the situation is very helpful, thankyou!

It continues to be terribly stressful. I'm sure we'll feel better when we've decided who to go with.

Charco_2

Max, I have to apologise because I found your post amusing, and I know you hadn't intended it that way - I'm sure it wasn't/hasn't been an amusing time for you. And I am sorry.

It's how inept GT were according to your description and also that you would dare cast aspersions against "the charity"!

The number of times I've tried to explain that they're just another company only to be told that they're holier than thou!
Im glad you're sorted now, and sorry you had a handling!

Thank you for sharing your experience!

notmyrealusername

I replied to your other thread - see below - but have also heard nothing but praise for Melanie Giles. She is an active and regular contributor on the IVA forums giving excellent unbiased advice. I didn't find the forums until after I started my IVA and although Payplan were just fine if I had known about Melanie Giles at the time I would have gone with her firm.

http://iva.co.uk/forum/

notmyrealusername wrote: »

I went with Payplan, can't fault them over anything. IVA ran smoothly for 3 years (annual reviews all OK) and then I was lucky enough to have a relative put forward a full and final offer. I've now paid the relative back and am debt free after 4 years of scrimping!

Whoever you go with things will be tough, the budgets are enough for you to get by but not live life to the full like you might have been used to in the past