IVA Experiences

debtinfo

Hello All

As has been pointed out recently it would be good to have a record of peoples experiences about their IVA firms so that people entering an IVA can have a look at them.

Therefore i am hoping this thread will be populated by people just ending their IVA's. I would ask people to wait until they have received their completion certificate or their failure certificate before posting so that they can give a full overview of the firm and IP they dealt with. It is important to get the failures as well as the completions and innevitably some do end that way and people would benefit from hearing how the IP's dealt with it, what they tried to keep it going, how symathetic were they when the innevitable became apparent. For the completed IVA's what was your IP like, how did you choose that IP in the first place, what happened when changes to your circumstances happened, how fairly do you think you were treated, how long did it take to get the completion statement at the end. I hope you will be able to post and help others.

Finally I would ask people not to comment on the experiences posted good, bad or otherwise as there is plenty of room on the site for that elsewhere. I intend this to be simply a list of experiences for people to peruse. If you want to thank people for posting their experience then use the thanks button.

Anondebtadvisor

This is a great idea Debtinfo and will be interesting to hear peoples experiences and views on their individual IPs

sort_me_own_yard_out

My experiance is with "MONEY DEBT & CREDIT"

I went about looking into going bankrupt in may 2009, unfortunatly I didnt know about this site nor have any knowledge of what was on offer to me.

Money Debt and Credit appeared out of nowhere and contacted me after I had used an online tool to see what a good solution would be to my problems. I still at this point wanted to bankrupt but was talked around by the doing the right thing by giving my creditors the max amount of money back to them I owed.

SoA was done over the phone, at the time my child care costs were over £600 per month they told me I wouldnt be allowed any more than £350 without it being questioned and need to produce recipets which wouldnt of been a bad thing. I should of run at the this point but desperation and the promise of creditors no longer being able to contact me seemed to cloud my judgment. for the first time I had a budget for car tax, emergancies and swimming lessons so thought I would be able to juggle my child care costs.

they were very efficent in the set up and from me making the call to being within my iva was a grand total of 4 weeks start to finish. they sent me all the info recorded extensive lists of what I needed to send them, envelopes in which to return my documents. kept in touch very good on the admin side.

Needless to say my IVA failed withiun the first year the whole point of trying to get myself sorted was to stop juggling. I ended up getting a catalogue as i didnt have any money for clothes, shoes etc.

Once I failed they were on the phone constantly advising me to take them up on there Bankrupt service, they fees were hellish on top of the already hellish fees.

I still need to go bankrupt, it was only the solution for me 3 years ago. I now find myslef in a lot worse a situation as I still have the debt, have more debt and still can not afford to pay people.

If IVA is the way you want to go and the case is straightforward with normal SoA etc then I think they will be good as they were efficent and fast. they are NOT the type of company to approach if you are looking for advice as they are pretty ruthless at getting your business.

I would however advise anyone to seriously think about the implications of IVA v Bankruptcy as I really dont think IVA is all as rosey as they would like you to think it is.

Good luck to all in your quest to finding the right solution.

Depth_Charge

HI

This looks a good idea debtinfo.

Hopefully the thread will be used in a responsible manner and if so it could be a real asset & help to people either currently in or considering an IVA as a way of dealing with their debts.

All should be made equally welcome to contribute