Risks of chosing the wrong IP Practitioner ?

Galeeno

What would be the risks of chosing the wrong IP Practitioner? (one which says they are certified but they actually are not? - how can you tell ?

and what would be the 2-3 worse cases 'things' that would happened if you picked the wrong one ?

Examples
(eg they would charge a higher monthly fee? -eat up most of it)
or the IVA would change amount £ Every year? (they would mess you around?)

so by picking the wrong ones what would be the worse case things that could happen ?

sourcrates

Hi,
You really need to pick a company that is well known in the marketplace, there are plenty out there that advertise, just do a search on google and pick a well known name.

RuthnJasper

The worst-case scenario (apart from being duped by a scam, non-existent, IP 'provider') is being charged extortionate fees for what you can obtain for free - this will add to your liabilities and is not in your best interests. There are plenty of recommendations on this site - try here: http://images2.moneysavingexpert.com/attachment/ivaGuide.pdf

I am in my last few months of an IVA. I got my provider c/o the Citizens' Advice Bureau - http://www.adviceguide.org.uk/england/debt_e.htm.

An IVA was the ideal solution for me. It has not been easy, and it is NOT RIGHT FOR EVERYONE - nor is it an easy way of "writing off" your debts. I would suggest that you make an appointment to see a debt adviser at the CAB sooner rather than later.

Best wishes. x

P.S. The day reality hit home re. my debts and IVA:- http://jasper-thedogsblog.blogspot.co.uk/2008/10/saturday-28-july-2007.html

FiatFan_2

good advice above, reading reviews, research and talking to IP's will give you the confidence you're not going to be ripped off and would be trust worthy. Sticking to the main stream would see you right, but shop around as everyone has different experiences being individual to your circumstances.

Answers to this thread kinda answer the other question to

National_Debtline

Hi there

We would recommend that you use an IP who is signed up to the IVA Protocol. This is a code of conduct which sets certain standards out for those signed up to it, amongst them:

- Not charging any upfront fees - the customer should only be expected to pay fees if and when a proosal is approved and gets underway;

- Ensuring the customer is aware of the alternatives and referring them for suitable advice if it is not felt that an IVA is genuinely in their best interests

A common issue we encounter is that of people whose IP determines that they can afford a level of payments which turns out to be utterly unsustainable. It's in your interests to get a 2nd and even 3rd opinion on how much disposable income you reasonably have by speaking to one or more of the free advice charities. Bear in mind that the IP's advice on this won't necessarily be impartial, as the more you pay in, the more they are likely to be able to earn in fees.

Good luck

Dennis @NDL