Looking for some advice (dealing with a large debt)

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  • tahirk555
    tahirk555 Posts: 15 Forumite
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    tahirk555 wrote: »
    Hi another update I have been speaking to the chaps at Revive Solutions UK Ltd who have advised me I have two options:

    1. Bankruptcy
    2. IVA

    The IVA would mean I carry on as normal, pay about 350 a month for 5 years and then the debt would be written off (?).

    Sounds like a viable option if its true but I don't know who this firm is, doing a company check they haven't been operating much (or it could just be they haven't done their financials).

    Thanks,

    T

    Ah these people actually: GW Financials (I assume they are all part of the same nest working through the Debt Clinic portal).
  • theoretica
    theoretica Posts: 12,306 Forumite
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    tahirk555 wrote: »
    Neither do I unfortunately I can't afford the legal costs to investigate all of the matter and right now I need to draw a line under all of the debt.

    Once I have done this via bankruptcy I will start investigating the fraud and try to get it some compensation for the damage done whether its just to see the person(s) in court and prosecuted.

    Thank you all.

    T

    Have you tried the police? Report this, and all the debts you got previously wiped as clearly not yours, get a crime number, and there is a chance this will connect up with other reports about the same fraudster. You may not need to do much yourself, or you may meet inaction due to too much work.
    But a banker, engaged at enormous expense,
    Had the whole of their cash in his care.
    Lewis Carroll
  • tahirk555
    tahirk555 Posts: 15 Forumite
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    theoretica wrote: »
    Have you tried the police? Report this, and all the debts you got previously wiped as clearly not yours, get a crime number, and there is a chance this will connect up with other reports about the same fraudster. You may not need to do much yourself, or you may meet inaction due to too much work.


    Thanks going to go the police once I have my paperwork in order.


    I am currently speaking to someone from Fortis Insolvency I was put through to them by Debt Remedy (via StepChange) however I am not sure if this is the right way to go or are they sharks as well?


    Thanks.


    T
  • CIS
    CIS Posts: 12,260 Forumite
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    I heard nothing from the guy and couldn't locate him when the proverbial SHTF moment happened (I was being sent letters for unpaid council tax for property's in London and other places I had never heard of or had knowledge of).
    Did you get the council tax side resolved ?
    I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.
  • sourcrates
    sourcrates Posts: 28,878 Ambassador
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    tahirk555 wrote: »
    Hi another update I have been speaking to the chaps at Revive Solutions UK Ltd who have advised me I have two options:

    1. Bankruptcy
    2. IVA

    The IVA would mean I carry on as normal, pay about 350 a month for 5 years and then the debt would be written off (?).

    Sounds like a viable option if its true but I don't know who this firm is, doing a company check they haven't been operating much (or it could just be they haven't done their financials).

    Thanks,

    T


    All insolvency practitioners charge a fee for administering an IVA.


    The basic difference between Bankruptcy and an IVA is that in Bankruptcy, you would lose all your assets, in an IVA, you wouldn't.


    If you have a house or property to protect, then choose IVA, if not, and Bankruptcy would not effect your work, choose Bankruptcy.
    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-letter
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