Clear Debt IVA Firm

aliscrapper

Hi

Thinking of using the above firm for an IVA. Has anyone had experience whether good or bad with this firm?? Would appreciate any first hand experience of them. Thanks:beer:

UpToMyNeckInIt

Should be a pretty competent firm at administering your IVA. Their IP (David Mond) won 'IP of The Year' in the 2012 'Insolvency and Rescue Awards'.

He also contibutes his time posting advice on another IVA forum, and gets reasonably good customer reviews.

A reasonably good choice I would suggest, based on what little research it is possible to do in advance of an IVA.

Depth_Charge

UpToMyNeckInIt wrote: »

Should be a pretty competent firm at administering your IVA. Their IP (David Mond) won 'IP of The Year' in the 2012 'Insolvency and Rescue Awards'.

He also contibutes his time posting advice on another IVA forum, and gets reasonably good customer reviews.

A reasonably good choice I would suggest, based on what little research it is possible to do in advance of an IVA.

Hi UPTMNII

Always worth trying a number of IP companies and compare don't you think?

Oh, and just out of interest, given some of the comments on Stepchange having only one IP? (if I remember correctly) how many IPs do Cleardebt have?

To balance things and be fair however, I must admit that too date I have not come across a client who has had a failed or failing IVA with Cleardebt

Just my independent impartial take as always:)

UpToMyNeckInIt

Hi DC,

Definitely always worth comparing several companies. (I always suggest as such on these forums, and I am sure the OP has done so).

The number of IP's any given firm has is only relevant in proportion to the number of customers they have. I'm guessing that Stepchange (and certainly their partners at Grant Thornton), have a much less favourable IP : customer ratio than ClearDebt. Maybe you can elaborate?

This is perhaps is a contributing factor in why are not aware of any failed IVA's with ClearDebt. (I'm sure some of their customers do 'fail' their IVA, but I suspect we are talking single-digit percentage figures, rather than the 35-40% National Average).

Interesting as well, that the companies boasting the lowest IVA failure rates, also seem to have the best customer reviews. I know you don't put a lot of stock in customer reviews, but I stand by my faith in them for this and many other reasons eg: better customer service.

Depth_Charge

UpToMyNeckInIt wrote: »

Hi DC,

Definitely always worth comparing several companies. (I always suggest as such on these forums, and I am sure the OP has done so).

The number of IP's any given firm has is only relevant in proportion to the number of customers they have. I'm guessing that Stepchange (and certainly their partners at Grant Thornton), have a much less favourable IP : customer ratio than ClearDebt. Maybe you can elaborate?

This is perhaps is a contributing factor in why are not aware of any failed IVA's with ClearDebt. (I'm sure some of their customers do 'fail' their IVA, but I suspect we are talking single-digit percentage figures, rather than the 35-40% National Average).

Interesting as well, that the companies boasting the lowest IVA failure rates, also seem to have the best customer reviews. I know you don't put a lot of stock in customer reviews, but I stand by my faith in them for this and many other reasons eg: better customer service.

Hi

Looks like we are both up and fresh on this Sunday morning:)

I am not sure what ratio the number of IVAs to the actual number of IPs would be classed as satisfactory consumer wise.

As I am sure you will be aware IVA companies do and will (or should) have sufficient numbers of competent staff to deal with IVA applications and other related issues irrespective of the number of actual qualified IPs.

I am sometimes of the opinion that the raising the issue of the number of IPs is just another marketing and selling ploy and would refer to my first paragraph in this post.

Of course the way to 'clear' up the issue of percentage failed and failing IVAs 'suffered' by each individual company (and each individual IP even) is for them to make them public, they must know them as don't we keep hearing them being quoted or alluded to by certain companies or their employees (not necessarily actual IPs).

It would be fascinating to see these figures as as you correctly deduct: if there are companies with single digit percentages then the simple maths must mean there will be others with very high double digit percentages. Do you think they will ever get together and give the public this information and then maybe I would give a little more credence to these client reviews.

A real interesting point might be if these figures ever made public is which professional associations they may be members of and what their spokespersons / reps take on this would be

On the issue of Cleardebt, it is true I have not yet come across a client who has a failed IVA with this particular company and believe me I have seen many others.

For the record I have met a few people from Cleardebt over the years and had a few really interesting debates and talks if I remember correctly, mind you I doubt if they would remember me, why would they? Maybe we will meet again soon however, yes perhaps we just might:)

My take

UpToMyNeckInIt

...actually DC, that is a very fair point: The quantity and quality of support staff in IVA firms is indeed also extremely important.

I know we have discussed IVA failure rates on this forum before, and it is frustrating that there is no 'league table' showing these by company. I am sure it is something that the Insolvency Service could cobble together quite easily.

Do the CAB not have any such figures?

As you assert: if some companies have much lower failure rates than average, then the failure rates in other firms must be truly horrific!!!

Depth_Charge

Hi

As far as I am aware the CAB do not have these figures.

I would imagine that there could be no way of obtaining them unless they were openly divulged by the I/S or the individual IVA companies themselves.

It would surprise me greatly if these figures are ever published, they have had plenty of time to do this if they really wanted.

It would not make good reading for the IVA Industry and associated trade bodies I would think.

Just my take as usual

PS - roll on the MALG, it promises to be a lively and interesting affair I hear with a rabbit or two maybe pulled out of the hat:)

Depth_Charge

Hey, thanks, this sounds like a compliment, probably from the other side so to speak.

As you allude to, there is nothing wrong with a good solid healthy debate as that is how we get things off the chest and learn in my opinion.

If you know me and I am quite sure that you do:) then you will also know that what you see is what you get, some of it may come across a little crude at times I admit, but it is genuine and he does not change.

I have a had a number of chances to join the other side but it is never going to happen, my next move is the exit door from the debt advice scene, who knows this could be sooner rather than later but in the meantime I will carry on regardless come what may.

The MALG could be very interesting and lively this year, especially looking at the Panel and maybe not the one you are thinking about, there has been a development that could be very interesting long term and it just might cause a ripple effect:)

Anyway cheers for the post

Wishing you the best and you never know I might get a drink and handshake sometime somewhere:)

PS - for those not familiar with the MALG - see links below

http://www.malg.org.uk/conference.html

http://www.malg.org.uk/conferences/MALG_Brochure_2013.pdf

An excellent and well organised event where all sides of the debt an other sectors come together to meet, debate (sell:) in orderly and friendly environment:)

Just my take with the usual innocent humour thrown in