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| Indebt |
Posted - 29 April 2008 : 21:24:36
I entered into an IVA 12 months ago. Last month I was contacted by UK Bankruptcy company telling me that I had been misold the IVA and I should go for bankruptcy instead, and also that I can get back all the payments I have made so far from my IP company on a no win no fee basis. They have said if I want to go into this stop paying my IVA and start paying them instead, is this for real?
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| 5 L A T E S T R E P L I E S (Newest First) |
| m and v |
Posted - 30 April 2008 : 14:06:30
It would have been so easy to pay them to "take it all away" and I must admit I was tempted. Promises of an early discharge seemed good but alarm bells rang when they said I wouldn't have their "protection" until I paid them some of the £1000. (When I received their pack it appears you actually pay £1050 plus the £495 BR costs)
If you take time with the BR forms and have the support of people like Brett and this forum there is no way I would pay them a grand!
Experts - I am happy to send on the pack I received if you want a look.
Vicki x |
| Helpful Advice |
Posted - 30 April 2008 : 10:19:14
Hi Indebt,
I think you get the picture "Avoid them like the Plague"
They accuse Melanie’s profession of mis-selling and give my profession a bad name.
There are ways to market a business and theirs is certainly not one.
It is arguable that the industry of assisted Bankruptcies is considered professional, however my firm is based around ethical and honorable business and in that sense deals with each case professionally.
The firms within the assisted Bankruptcy profession need to work closely with the Insolvency Practitioners like Melanie to ensure the correct advice is given for the client.
This firm just seems to upset everyone within the industry at the moment in the way they conduct there business and marketing.
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
| melanie_giles |
Posted - 30 April 2008 : 09:49:53
One thing I can definately say about this company is that there is no sign of the "legal case" they keep referring to about and no-one will get any money back from their IVAs - no "no win-no fee" deals are not appropriate.
What they want you to do is instruct their sister company to assist you filling in a few bankruptcy forms and paying £1,000 for the privilege of this.
Interested to see that you have been hounded by a sales team - by a company that accuses my profession of mis-selling!
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
| m and v |
Posted - 30 April 2008 : 07:45:22
Hi there - I too was contacted by this company. They wanted just over £1000 to "help" me through my BR and to "help" me get my money back! They are employing the services of a London lawyer to take 100 cases to high court to try and prove IVAs were mis-sold. Have a legal team that will try and get your BR discharged early etc etc.
In my mind I have struggled for years with debt and then to pay my IVA, I have completed the forms myself and paid £495 to declare myself bankrupt.
You may get some money back eventually if they do suceed in court but this could be years away and the "no win no fee" bit means they take a chunk if you do win. It just seemed to me a way of taking advantage of you when you are already vulnerable. It may well be a good decision to let them handle your BR but its something you can do for yourself at half the cost. I have been hounded by their sales team since my initial conversation and it just didn't feel like they had my best interests at heart - just wanted my money - I may be wrong!
Vicki x |
| melanie_giles |
Posted - 30 April 2008 : 00:21:09
Hi there and welcome to the forum
Well this is a "real" company, whose prime motivation appears to be to encourage clients away from their IVAs and into bankruptcy - assisted by their sister company.
Do you feel that your IVA was mis-sold to you? And do you think that going bankrupt now is a better option for you, or continuing to repay your creditors as you originally determined?
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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