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Debt Relief Group?
Has anyone used the ‘Debt Relief Group’ for help with an IVA? My Adult son is in the process of going with them but he can be quite vulnerable and I’d really like to check them out first (but can’t find much out online about them). Any help would be gratefully appreciated. Beth
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Hi,
There are lots of debt management companies out there that sell IVA’s, all charge for running one, some are worse than others, but basically all sell a similar product.
The question you must ask, is if an IVA is suitable for your son, or not.
Its a pretty easy decision to make, IVA’s were designed for homeowner’s with massive debts, when I say massive, although there are no limits either way, the solution is best suited to someone with assets to protect, and debts north of 50k.
They can be suitable under other circumstances, but if that does not describe your son, then another option may be better for him.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
No, not heard of them. These IVA companies come and go.
A quick search shows that they are a trading style of Ease Your Debts Limited, same as debtadviceline.org
Started trading 21 November 2019
Why not get him to have a chat with National Debtline? They have no product to sell so can advise on the whole range of strategies. If you ask an IVA company what you should do, the answer is invariably 'take out an IVA'.0
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