Told my IVA is to fail : My road and diary to bankruptcy

Merry_Gentry

Hey you. Sorry to hear you've had such a cack day - sounds like a real sucky one Sending some major cyber (((HUGS))) cos unfortunately there's not much else I can do for you. But you know I'm a listening 'keyboard' You're right about the kids - my girls are 13, 10 10 and 4 - and they are angels!! Sprinkles of sunshine to you for tomorrow xx

Rylynn

Thanks Merry, I will feel them I am sure..

Freds if you dont wear them I hate to think what you may do with them.. sharp pointy shoes. ouch...

Now this little angel is off to bed before the MICE arrive to take me there.. or frighten me off ...

Pretty amazed no Krucher in here yet... ha ha.. then freds the pointy shoes will come in very handy.. or footie.. as the case may be..

Merry thank you .. your thread brought me here.. along with a mate who sent me in your direction.. take care, sleep better.. it is all UP now.. just remember that.

Bad day yes.. but I have this thing illness and all, I dont play dead for no one..

badbobby

Sorry to semi-hijack this thread but i have a question:

What grounds do you have to take action against a missold IVA? My friandis in the 4th year of one and had absolutely no assets at the time of it. She was an actress and had no issues with the stigma of bankruptcy. I've told her to ask for copies of all correspondence (originals destroyed in house fire...) so I can look through them.

I work in corporate insolvency so know the nuts and bolts but don't know about how to go about taking action. my immediate thoughts are:

1) insolvency practioner's licencning body
2) financial ombudsman
3) directly writing to payplan (the swines) and claiming the 2 extra years payments less the £500 bankruptcy costs she would have had to spend had she gone down the better route.

Cheers in advance

BB

Dez-Titute

badbobby wrote: »

Sorry to semi-hijack this thread but i have a question:

What grounds do you have to take action against a missold IVA? My friandis in the 4th year of one and had absolutely no assets at the time of it. She was an actress and had no issues with the stigma of bankruptcy. I've told her to ask for copies of all correspondence (originals destroyed in house fire...) so I can look through them.

I work in corporate insolvency so know the nuts and bolts but don't know about how to go about taking action. my immediate thoughts are:

1) insolvency practioner's licencning body
2) financial ombudsman
3) directly writing to payplan (the swines) and claiming the 2 extra years payments less the £500 bankruptcy costs she would have had to spend had she gone down the better route.

Cheers in advance

BB

Hi BB,

As far as I'm aware IVA's are not covered under the FSA (mores the pity) otherwise you would have a clear route to complain.
I think unless you hsve plenty of cash to throw around to cover court costs ect then I think it's a lost cause.
Clever trick heh Prey on the people who don't have two pennies to rub together,treat them like siht in the knowledge that you can't afford to contest there actions.

Can't see where you go from here unless you contact lacal councillor,press etc and create one almighty stink.

Hope all goes well
DEz

c0ckers

Hello sorry but you only mentioned the fact that she didnt mind the stigma of bankruptcy.

However there are other reasons why an individual may not be advised to go down the route of bankruptcy:

• Antecedant transactions
• The line of work that they are in

These are just two more of the ones i could think of quickly, however most of the the firms who offer IVA's nowadays are all regulated by their governing body (ICAEW) and a register of regulated firms can be accessed quite easily i am sure.

Dez-Titute

c0ckers wrote: »

Hello sorry but you only mentioned the fact that she didnt mind the stigma of bankruptcy.

However there are other reasons why an individual may not be advised to go down the route of bankruptcy:

• Antecedant transactions
• The line of work that they are in

These are just two more of the ones i could think of quickly, however most of the the firms who offer IVA's nowadays are all regulated by their governing body (ICAEW) and a register of regulated firms can be accessed quite easily i am sure.

Who are the Institute of Chartered Accountants accountable to.In the event of a complaint who should the complainant address there complaint to.???

badbobby

Who are the Institute of Chartered Accountants accountable to.In the event of a complaint who should the complainant address there complaint to.???

They aren't really answerable per se but they are pretty serious about their members getting up to no good. They can levy fines etc and eject you.