We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Best IVA company to use
Comments
-
Why an IVA instead of a DMP or DRO?
Speak with step change and discuss your options, it's a free charity or provide further information and members will talk you through different things.Mortgage started 2020, aiming to clear 31/12/2029.2 -
You could also contact Christians Against Poverty Debt Help - free help and assistance with creditors, and support through the process. You do not have to be a Christian to access their help
1 -
Hi, I totally agree with MovingForwards about a DMP or DRO via one of the free debt help agencies.
I used StepChange a few years ago and they advised a DRO. They also helped me to apply for it and were very helpful, knowledgeable and non-judgemental (which was very important to me). I was allocated my own adviser at that time.
From what you say it seems as if you would be eligible for a DRO too.
Here's the link for StepChange -
https://www.stepchange.org/
And it's a free call, so you have nothing to lose. I can't recommend them highly enough. I'm now debt free, thanks to them.
Please note - taken from the Forum Rules and amended for my own personal use (with thanks) : It is up to you to investigate, check, double-check and check yet again before you make any decisions or take any action based on any information you glean from any of my posts. Although I do carry out careful research before posting and never intend to mislead or supply out-of-date or incorrect information, please do not rely 100% on what you are reading. Verify everything in order to protect yourself as you are responsible for any action you consequently take.1 -
As a general rule of thumb, an IVA is only suitable in certain specific circumstances.
They were designed basically as a bankruptcy option for homeowners, those with a large amount of debt, but who also owned a property, so could not go bankrupt the normal way.
They are not really suitable for anyone else, as other, better choices are available.
Unfortunatly due to the money that can be made from the fee`s charged, they are mis-sold on a grand scale.
See if you would qualify for a DRO instead, check out the Stepchange website, as advised above.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-letter2 -
Thank you so much for your replies. Looking into it a DRO looks like the best option for me. This is stupidly the 2nd time I have got myself in this situation and had an IVA in 2009. This forum has showed me I'm not alone in this. So thank you once again.2
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.5K Banking & Borrowing
- 252.9K Reduce Debt & Boost Income
- 453.3K Spending & Discounts
- 243.5K Work, Benefits & Business
- 598.2K Mortgages, Homes & Bills
- 176.7K Life & Family
- 256.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards