iva ramsey lomax and leonard curtis

FiatFan_2

Did you approach this firm or did they approach you? Have you re-approached SC who your DMP is with? I would have hoped they would have gone through the 3 main forms of debt management prior to your DMP, unless that was the best way due to self employment.

Some people do go down the DMP route pre-iva so it's not an uncommon cross over, I believe SC farm out their self employed cases to Grant Thornton IIRC this was the case with UpToMyNeckInIT on the iva board.

Be sure to read through the information that is sent through and compare that to what Melanie Giles & others provide and only proceed when you're fully understanding and happy with whichever proposal you choose, no need to be pressured into things.

crazylady5

thanks all no sc never offered iva seems they don't really want to know if you self employed and just said they can review things but even there expenditure isn't right for us, its just like there's a guildline and that's it! but that's not it! no wonder were struggling!!

i'm gonna be talking to melanie giles company again on monday there was just something about them, not pushy and def no cold calling!!

only one small problem they want to meet my husband as he's self employed and there in cardiff haha were in south east in east sussex! she did say we could meet half way but it just felt right?

no doubt i will still get constantly harassed by these other firms really should of got it already shouldn't i? anyone that has to keep calling cant be such a good thing! x

Depth_Charge

crazylady5 wrote: »

what is a soa? haha sorry i'm so thick!!! iv'e been talking today to melanie giles? or her company? or does she work for a company? sorry again i really don't get it! but i really felt at ease with the lady i spoke to her name was kelly anyone know of it? x please x

Hi

A SOA is basically listing your debts, both joint and separate along with your income / expenditure and any assets including your property (home)

If you have a DMP currently in place then these figures should go a long way to explaining your SOA.

I seem to keep reading a lot of negative comments surrounding Stepchange however the IVA companies appear to be using the Stepchange expenditure guidelines for IVA's which arguably is a clear contradiction in my book.

Maybe speak to Stepchange about an IVA if you are already on a DMP with them, maybe also contact the CAB

Please remember that IVA Companies are profit making business's and should be basing their advice on your full circumstances and therefore would need information on your SOA.

I cant really comment on individual companies but looking on another site of late it would appear to me that on occasions it can resemble a back patting self praising exercise.

How wonderful they are, thanks to xx etc, looks like blatant 'cheesy' advertising and selling to me at times to which there is no real need apart from easy to see through sheer cheap jack marketing perhaps!

I will not mention mortgages and secured loan links on there, I might get accused of being anti IVA again:)

Just my views and opinions

Best wishes in whatever you decide

DC

Find_The_Real

Some good points DC and I can see where you are coming from with all the 'cheesy' advertising etc, but if you are thinking of an IVA, just how do you go about choosing the company to go with? I don't regret for one minute choosing my IVA company based on what people have said on a certain site.

Yes there are difficulties sometimes and perhaps we get to only hear more about the problems with certain firms, rather than the successes - perhaps one to debate more on the discussion thread

Depth_Charge

Find_The_Real wrote: »

Some good points DC and I can see where you are coming from with all the 'cheesy' advertising etc, but if you are thinking of an IVA, just how do you go about choosing the company to go with? I don't regret for one minute choosing my IVA company based on what people have said on a certain site.

Yes there are difficulties sometimes and perhaps we get to only hear more about the problems with certain firms, rather than the successes - perhaps one to debate more on the discussion thread

Hi

I take your points, which are very fair as always

I felt things needed balancing a touch, it is nothing new and I know it will come as no surprise to friends on the other side as they expect nothing less and will be smiling:)

I personally think that I am doing them a favour at times with the independent feedback on marketing and selling techniques:)

There you go, get ready for the responses

PS - yes, the discussion thread, let's get it on:)

My take

Find_The_Real

DC I know you are always the voice on reason on here as sometimes us in the middle of our debt crisis can be a tad biased at times from our own experiences, and we always appreciate such caution.

Still saying my IVA company is fab though

Depth_Charge

Find_The_Real wrote: »

DC I know you are always the voice on reason on here as sometimes us in the middle of our debt crisis can be a tad biased at times from our own experiences, and we always appreciate such caution.

Still saying my IVA company is fab though

Hi

Thanks for that, it is appreciated

Voice of reason, yes, that sounds fair to me:)

Just what some on the other side will make of the above well deserved compliment :)is probably worthy of a debate in itself

They have a soft spot really don't you guys:)

Sounds like you are very satisfied with your IVA Company which is good and all the best with it

If I remember right I have met Melanie a few times, she certainly knows her stuff and is very much respected, I never or try not to promote individual companies, my line is get full advice, make sure you fully understand and if an IVA is appropriate try several companies to compare and no up front fees

My opinions only

UpToMyNeckInIt

Hi crazylady5,

Sounds like you fell into the DMP trap that StepChange tried to lumber me with: They tried to get me into a DMP which would have taken an unrealistic 15-20 Years to repay.

This sort of thing only reinforces my view that, with Stepchange and the other charities being funded/sponsored by your creditors, that is who's interests they are primarily looking out for. This is reflected in the fact that they tend to suggest DMP's over IVA's, regardless of how long it takes to repay, as the DMP guarantees the creditor a 100% return (if it runs to term).

I understand that on the rare occasions when SC recommend an IVA for the self-employed, it is farmed out to their partners at Grant Thornton. (So much for these Charities claiming to be 'impartial').

If it was not for initially being taken in by the anti-IVA bias on this site, and my conversations with Stepchange and NDL, I would have been at least a Year further down the line with my IVA by now. Saying that, the 'other' site that I think you are referring to is very 'pro' IVA.

At least with the IVA, you can see light at the end of a 5-6-Year tunnel.

Best of luck if this is the route you decide to take.

dancingfairy

Firstly a dmp is a flexible, informal agreement. If things have changed (or if the budget just wasn't right in the first place) then you can change it. Creditors will have to take what you can afford.
Whether a dmp is right for you will depend on many factors. Normally dmps are only suitable for people who can pay their debts off in around 6 years or have some reason why they can't enter insolvency. Ivas' and bankruptcy are obviously forms of insolvency.
Now from where you are you have various options:
1) continue the dmp
2) try and make full and final settlement offers if you can somehow pull together a sum of money
3) an IVA
4) bankruptcy.

In my mind there is little to recommend an IVA over bankruptcy unless there is significant equity in your house or have other significant assets. An IVA you will be paying for 5/6 years and have to attempt to remortgage any equity whereas in bankruptcy you may be expected to pay for up to 3 years. If you have little or no equity in your house then it may not be taken off you in bankruptcy.
In your shoes I would consider making full and final settlements first if possible. If this is not an option I would consider bankruptcy (depending on house equity). If this is not an option I would then consider an IVA.
maybe you need to phone Stepchange and ask for a review. Also ask them to go through an IVA or bankrutpcy options for you so you can compare them and make the best choice for your family.
Best of Luck

df

crazylady5

thanks you xxx