iva

willow70_2

can any one please advisor of a none profit iva company to go with. i have been paying into a dmp with debt fixer for three years and the debt doesnt seem to go any were the have a iva company linked to them called money debt and credit who they passed my details on to as we could do a iva so the debt would be paid in 5 yrs. they are a joke they have been messing us around for the last two months sending wrong info out and a credits meeting has had to be cancelled twice due to there incompence. i just dont know were to turn as i feel i am just throwing my money down the drain.:mad::mad::mad:

debtinfo

All IVA companies will charge you for their services, some more than others, Payplan and CCCS are non profit making but they do still charge for supervising and drawing up the iVA

struggler

Agree with Debtinfo, but the charges normally come into the IVA, so you will not be paying upfront with any reputable firm

Charco_2

debtinfo wrote: »

All IVA companies will charge you for their services, some more than others, Payplan and CCCS are non profit making but they do still charge for supervising and drawing up the iVA

You should have a look at CCCS publicly available accounts on Companies House website to see how much nonprofit they're making!

All IVA companies charge fees... unlike other debt solutions which are less regulated (or not regulated at all), IVAs are heavily regulated and so there are no pseudo debt "charities" lying about how they earn their fees.

The fees to avoid are upfront fees... this is a method used by less reputable IVA companies to charge you 62 months repayments instead of 60 like a normal IVA. The two extra repayments go straight into the IVA companies pockets and contribute nothing towards your debt solution. Luckily there are enough IVA companies that do not charge up front fees and will advise you on the your best solutions for free. If a company tries to charge you money before setting up a debt solution for you then walk away.

Incidentally, I hope you're not throwing away more money by continuing to pay Debt Fixer for your DMP or by paying anything to their sister IVA company... stop all repayments, look into an IVA (and stuff whatever you're saving into your mattress for a rainy day!)

socleirigh

I talked to a number of IVA firms before deciding on the one I used.

I'm not sure if the forum allows people to recommend companies, but the one I used is highly recommended.

And they won't recommend an IVA for you if that's not what would be the best solution for you. They go through all your options, explaining them all in great detail, so that you are comfortable and confident in the solution for you.

Good luck with your IVA and as other posts have said stop paying into your DMP when your applying for an IVA

Regards
socleirigh