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Panorama programme on IVAs today 8pm BBC1
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As the cost of living crisis deepens, figures suggest almost 13 million people in the UK are falling behind on their bills and struggling with their debts.
Panorama investigates the booming debt management industry and the companies signing up people for Individual Voluntary Arrangements. IVAs allow clients to pay off their debts in instalments, but reporter Lora Jones discovers that some vulnerable people have experienced high-pressure sales tactics, and others are charged fees they struggle to pay.
On iplayer shortly after broadcast
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We on this forum have known that for years.
DMC`s see the current situation as being very lucrative, so they will want to make hay whilst the sun shines.
Honestly, get rid of IVA`s entirely, you would reduce half the fraud in the system overnight, there of no real use to anyone but a small minority of folk anyway, but are of course being mis-sold to vulnerable people with little or no knowledge of what they are being coerced into signing up to.
The focus needs to change from making money from these arrangements, to actually helping those in debt get debt free, as cheaply, and as quickly as possible.
DRO`s should be promoted much more than they currently are, but then there`s no money in them is there, no profit to be made, its FUBAR.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-letter1 -
Nice to see Ames Taylor on there. She has an interesting blog
https://amestaylor.medium.com/predators-in-debt-advice-yes-i-am-talking-abut-ivas-d72d197aaf6d
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