Chosing 3 IPs?, and then rejecting 2?

Galeeno

some people have chosen IVA companies, which before signing have not works with people

Can an Income/expenditure form be done, with 3 companies, and if they all say 'yes' (at the same monthly reduced payment rate),...
before the IP meeting.

can you then reject 2 of them, and just pick the one you feel more comfortable with ?

or the 2 rejected ones will feel like you have been wasting their time ? or you can do that without telling them you are just 'shopping' around ?

I am asking, as some cases have been that people have chose an IP company, and then on the last minute found some bad feedbacks from it, and they 'didn't have a backup'

This way , there can be 2 alternative backups.

so can 3 Ip companys be considered, and you chose 1 (pull out of the other 2)

cheesedoffwithdebt

Interesting idea but I'd say quite frankly it would not work.

It isn't the IP who decides ultimately what you should be paying, that's the creditors who have to vote on accepting his or her proposal.

An IP who was less than honest could mislead a potential client by saying he could get lower payments, get you all the way to a creditors meeting by which time you will have paid fees to them, and then find the proposal isn't accepted and you either pay more or don't do an IVA.

A good IP will explain what in their experience would be likely to be accepted and that can be done without obligation, but as I say, it's the creditors who ultimately decide.

What you need to be considering when choosing an IP is how accessible they are if you get problems during the IVA and need to talk, and any references you can get regarding their track record.

Anondebtadvisor

You can do 20 income and expeditures with different companies if you wanted to - this is only a small part of the IVA proposal to creditors, you will see a copy of the draft proposal before it is sent to creditors.

IVAs which are IVA protocol compliant will be very similar and have the same clauses re Overtime, bonuses or commission, Windfalls and your martial home.

Consider reviews and other peoples experiences, you might consider the fact you can speak the actual IP who is dealing with case an advantage

Find_The_Real

The important thing is to do your research first about how a company performs and any feedback by reading about them, then choosing your top 3 you want to speak with.

Then from those initial phone calls you decide who you want to go with.

I believe it is possible to change your mind before the creditors meeting but what you have to remember is the IP and the team would have done a lot of work by this point, probably on the basis of getting paid once the IVA has been accepted and so you would not only would be wasting their time, but they could have been helping someone else wanting to go into an IVA with the time spent with you.

The important thing is to read as much as you can about it and the problem is there is a reason it is called an IVA, as the INDIVIDUAL part of it means just that, it is individual to each person and there is no set formula, so it's generally more about reading up on the process and who to go with from client feedback.

If you are considering an IVA I would write down all the questions you have asked on here and the other place, to ask the IVA company as they are able to answer it in more detail based on your OWN personal circumstances.

Anondebtadvisor

It is possible to withdraw at any time up to and until the creditors meeting has been approved by the debtor and creditors