Feels like I'm being pressured into an IVA

sourcrates

Stepchange stopped doing DRO`s after they threw there toys out of the pram, Money Wellness AKA Grant Thornton, were given a ton of cash to do DRO`s, but still like to push IVA`s as they are a money-spinner for them.

CAB might be your best bet, work the budget out beforehand, so you have figures ready to give them, remember £75 or less disposable income threshold is the key number here.

fatbelly

Brie said:

Money Wellness is a business and as such needs to make a profit.  Best way to do that is to get you to pay them.  So they will push for an IVA or a DMP because a DRO won't give them any of your cash.

I suggest you go back to StepChange, NationalDebtLine or CMA which are all charities not businesses.

And yes post an SOA/your budget on the Debt free forum as there will be lots more expert advice there.

Partly true, Brie. They have also accepted a large sum of 'government' money from the Money and Pensions Service to provide Debt Relief Orders and free dmps.

https://maps.org.uk/en/media-centre/press-releases/2022/money-and-pensions-service-signs-contracts-for-national-and-business-debt-advice-services-and-the-administration-of-debt-relief-orders-in-england#

They of course used to be Gregory Pennington, infamous IVA pushers
.
We seem to be hearing from a lot of posters who suggest that the leopard has not changed its spots. If anyone knows anyone at the top of MaPS, could they give them a prod to wake them up?

mancity22

Just got off the phone to a lovely woman from CaB. Did my budget based on what I earn and my bills contributions, what's left over is actually accurate! She did say that a DRO might be an option as I have less than £75 left over a month and not enough to pay creditors. She's sending me an email and I will get back in touch to start the application this week. 

It felt like night and day really! The only area she said I was maybe overspending a bit was clothing and toiletries but only a small amount which I agreed I could reduce to fit the budget. The guy from MW said I was spending too much on almost everything and then said I should have £250 leftover a month when I don't, so it seems like they try to make it fit into their agenda of bankruptcy/IVA. 

sourcrates

Yea, the situation isn`t ideal unfortunately, service expectations differ quite considerably between providers, but then if you work for Money Wellness and have been used to flogging IVA`s for the last ten years or so, old habits die hard I guess.

stu12345_2

here are some official guides in spending limits for an adult and then each child per month max amounts on variable expenses, eg clothes, toiletries, food 
ps 
 aim for clothes max per person £30 and toiletries, which are personal costs,£25 per person, leisure about £25 max per person, communication is landline, mobiles

mancity22

My DRO got approved yesterday through CaB, they were so empathetic and understanding. I would definitely recommend CaB for anyone exploring a DRO. So glad I went with my gut and didn't get bullied into an IVA!

RAS

So leased for you. Roll on your anniversary.

ManyWays

fatbelly said:

Brie said:

Money Wellness is a business and as such needs to make a profit.  Best way to do that is to get you to pay them.  So they will push for an IVA or a DMP because a DRO won't give them any of your cash.

I suggest you go back to StepChange, NationalDebtLine or CMA which are all charities not businesses.

And yes post an SOA/your budget on the Debt free forum as there will be lots more expert advice there.

Partly true, Brie. They have also accepted a large sum of 'government' money from the Money and Pensions Service to provide Debt Relief Orders and free dmps.

https://maps.org.uk/en/media-centre/press-releases/2022/money-and-pensions-service-signs-contracts-for-national-and-business-debt-advice-services-and-the-administration-of-debt-relief-orders-in-england#

They of course used to be Grant Thornton, infamous IVA pushers
.

Who Money Wellness? i dont think they have ever had a connection with Grant Thornton. Aperture were the management buyout from Grant Thornton, who then sold their book to Jarvis who changed their name to Debt Movement who have given up doing any more IVAs. 

sourcrates

Money Wellness is a trading style of Gregory Pennington Limited according to the Money wellness website.