Urgent Advice please

roboraver · 25 January 2020 at 9:13AM

Hello

Some advice needed please as have a "gut" feeling if it's too good to be true....

Myself (23k debt) and partner (16k debt) living together (council rent so non homeowners) with x 1 15y dependent child have been speaking apparently to a IVA charity who after doing the sums have recommended both of us have IVA with 2 different companies (we both work full time and don't think bankruptcy is a option).
Problem is they have said that we should tell the IP that our wages are lower (e.g On my form I should put my partners wage considerably lower than it actually is !! And my partner must do the same vise versa !). Obviously when I questioned this they said the I.P will not check and legally we do not even have to tell our partners wage. They were very adament that it is fine and if they were giving false advice they would not have a job and be sacked.

We have not signed any paperwork yet but have a final call next week to finalise but we obviously feel very worried about providing false information which will effect us for the next 5 / 6 years.

Should we run for the hills and avoid ? (Would rather not name the company involved openly but happy to iva a mod PM).

sourcrates · 25 January 2020 at 3:09PM

I would say avoid them like the plague, there are so many cowboy IVA firms out there, you must be extremely careful who you trust to do business with, you must provide evidence of your income/expenditure at your annual review, and this includes payslips and bank statements, so if you lie about it to begin with, you must follow through with that lie, things could get pretty complicated.

Also giving my money to a business that openly flouts the regulations in such a way, would start alarm bells ringing with me, how do i know they are going to pay my money to the arrangement, if they are cutting corners here, where else are they doing it, am i still legally protected from my creditors, could i be fined, jailed, or made bankrupt if my IP found out ?

Do you really expect us to recommend such a company to you when you are making a life changing monetary decision ?

Get advice from a reputable debt charity, such as stepchange :

https://www.stepchange.org/debt-info/iva-companies.aspx

roboraver · 25 January 2020 at 5:55PM

Thank you ! I thought so, hence my post !! Have contacted stepchange.

Mouse007 · 25 January 2020 at 6:06PM

Good advice above, glad you followed it.

Are the the original advisors really a IVA "charity" ? or were they proposing to charge you?

roboraver · 25 January 2020 at 6:11PM

It's really strange as they said they were from a gov approved scheme and did go through all the options etc, what's worrying me now is I had to use a mobile tool that gave them access to my bank account statements. Alarm bells are ringing so will take it up on monday, have checked my credit report and nothing new has been added.

Did not mention a charge at all but until they would of sent over the paper work I would not of been able to read the fine print (They said they build up the file) and then send it to a IP "B Jones and T Jones".

Mouse007 · 25 January 2020 at 6:26PM

I'd check your bank account now

roboraver · 25 January 2020 at 7:10PM

Have done, it' fine fyi email info came from a someone.name @ nationaldebtadvice . hubsolv.com obviously will be vigilant x %500 !!!

D_M_E · 25 January 2020 at 9:03PM

If you have given them access to your online banking so that they could browse through your statements then i suggest you change all your banking passwords and access details ASAP.

Keep watch on your account in case they set up DD's or Standing Orders - you don't want any unauthorised payments going out.

If you have given such access, be prepared for the bank closing your account as you have breached their terms by handing out your details and - worst case - you could also get a CIFAS marker as well.

The address you give looks like a commercial operation who will be taking a large percentage of any payments, with possibly little or nothing going to your creditors should you decide to take up their services.

roboraver · 25 January 2020 at 9:45PM

Thank you D_M_E feel gutted as normally am quite tech savvy

sourcrates · 25 January 2020 at 9:56PM

National debt advice is a commercial debt management company, as I said above, there are lots of cowboys after your money, giving companies like this voluntary access to your bank account means if money were to be taken, you cannot claim it back.

They make many thousands of pounds from selling IVA’s, they are not too bothered who they sell them too, or if it’s actually appropriate for you, and as you have found out, they are not to bothered about following the rules either.

roboraver · 26 January 2020 at 12:01AM

Thanks Noted but isn't this sector more regulated ? I mean the advice given was fraudulent ? Who is regulating the cowboys as such ?

Urgent Advice please

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