Considering IVA

debt_doctor

Hi toon Dave,

My CAB does not work with Grant thorton but you are quite right many CAB'S refer to them and they do have a good record by all accounts. Perhaps they should be another option.

DD

Toon_Dave

tigerfeet2006 wrote: »

Give CCCS a ring and talk to them and then make your decision from there. Personally if CCCS offer to help with an IVA then I would go with them. But I know lots of people go with Payplan.

Hi TF, hope you are well tonight?

I didnt realise that the CCCS did the IVA's? thats great news for people, i thought they could only advise on debts and remedies.

they were most helpful when i contacted them this week. and i would definately recommend people to contact them for some serious advice, And the website was a great source of answers...To be fair most have been answered on here and then some.

Dave.

debt_doctor

Hi 10past6,

You contact all of them direct. Just google either Payplan, CCCS or Grant Thorton

DD

Toon_Dave

debt_doctor wrote: »

Hi toon Dave,

My CAB does not work with Grant thorton but you are quite right many CAB'S refer to them and they do have a good record by all accounts. Perhaps they should be another option.

DD

Hi DD.

Yep, the lady i spoke to from them was excellent and offered some fantastic advice on what i could and couldnt do...i never felt at any time from listening to her that she wanted to take my money first..and infact she point blankly told me that in my situation that an IVA would waste my money and i could put it to much better use by 'starting again'.

it was a refreshing change to get that honest non profitable opinion..im sure she got paid on commision etc eventually but was nice of her to be honest.

Dave.

debt_doctor

Hi toon Dave,

At work, my tea mug sits on a Grant Thorton coaster !! Obviously some freebies sent to our CAB ! I might have a chat to them on Tuesday its just that IVA's are so rarely appropriate, and when I choose to refer then ive made the decision that IVA is best option for client so no risk of IVA companies bad influence.

DD

10past6

I cannot express my thanks in words to you all for the time and dedication you have given, especially DD, although that's in no way ignoring all the other contributions from each member within “this” thread.

Whilst we have a long road ahead of us, within a few hours on this forum, we can see some light now, and for once in months, I'm sure I can go to bed feeling a little more “Comfortable”

Following toon dave's comments, I'm going to call Grant Thornton on Tuesday also.

debt_doctor

Excellent, :T and we will be here to help all the way.

DD

Toon_Dave

i hope you sleep better tonight 10.

and i think we are all glad you are feeling 'happier' about the situation.

Dave.

tigerfeet2006

All the best with what ever you decide to do and we are always here if you need to ask anything.

percnica

I took out an IVA two years ago.
Total Debit was £72,000.
Do not own a home, but do own a car (need for work).
Earn £45,000
Paying back £550 a month.
The IVA started through Baker Tilly (recommended by CCCS) who have now become Debt Life Boat.
IVA said it had a very strong change of succeeding.

All was going OK until last November.
Had to move house so extra income on rent and rental agreements etc
My wife has had to go from full-time to part-time work due to cut backs.
Increase in energy changes
Increase in petrol (as I travel approx 250-300 miles a week for work).
Out come could not make the £550 required.

IVA petitioned the Creditors for change of repayment to £350 with an extension of 12 months to the plan.
Creditors voted 3 times and out come was still 52% No to 48% Yes.
Total of 6 creditors 4 voted 2 for, 2 against, 2 never bothered (the creditors with the highest debt voted No hence they have higher voting rights)
I tried my best with the IVA but just a few simple changes in my finances, which where beyond my control, plus the creditors being unwilling to re-agree to a change in payments have caused me to file for BR.

From a personnel point of view I wish I had applied for BR in the 1st place as would by now be debt free.
In my case it's clear that the Creditors (HSBC especially) are unwilling to re-negotiate, even when it's in their interests (BR only offers 11p in the pound New IVA agreement 25p).

Hope this helps