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izzy skint
Starting Member
United Kingdom
3 Posts |
 Posted - 23 January 2011 : 17:45:09
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myself and my wife are currently in an IVA and are finding it impossible to live a basic life and pay bills. we did not pay iva in dec and this month so are now in arrears. We found a company online that we contacted, this guy seemed extremely helpful and has convinced me that BR is the best route for us and our current IVA company should have advised us of this. we both work, own two cars which we need to travel to work and own our own home(mortgaged) we are in a lot of neg equity and have no assets apart from the cars. the IVA Debtline guy wants £1400 for his help in preparing BR. and we need a further 1200 for court fees. before i go and pay first installment has anyone used this company before and are they good and worth the money.
thanks in advance.
jocky |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 23 January 2011 : 18:03:15
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Hi and welcome.
Firstly, speak to your own IVA company to see if anything can be done to help, they can reduce payments by up to 15% without going back to the creditors.
You do not need to pay anyone to help you go bankrupt and those fees seem particularly high. You will have to let your IVA fail and this means that you could use that money to save up the fees.
How much are your cars worth? If they are over about £2k then you would be expected to sell them and buy cheaper ones.
This forum can help you with any questions about the forms but do speak to your IP first.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 23 January 2011 : 18:04:04
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Hi and welcome to the forum.
If you are in an IVA your first port of call for advice should be your IP. They may be able to reassess your payments to make them more affordable.
I would avoid a company who have 'convinced you' that BR is the best solution and are going to charge you a large amount to help you.
If you decide that BR is the best solution for you then your IP may be able to advise you, and any of the professional experts who post on here will be able to offer initial advice free of charge.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
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izzy skint
Starting Member
United Kingdom
3 Posts |
Posted - 23 January 2011 : 18:21:03
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thanks for the replies, i have been wanting to speak to someone from the IVA company for a while, when i phone and ask for my supervisor i get a different person every time and told my supervisor no longer works here. they are extremely slow to respond to anything, tell me they will sort things, they don't, then i have to phone back again and again. I have had enough of dealing with them. this is stressful enough they just make it worse. I have done a fair bit of research and i am seriously considering making myself bankrupt, as i see it as a way to free us from the IVA company and only lasting a year. however i worry that something i have not thought about may jump up and bite us later.
jocky |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 23 January 2011 : 18:22:38
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You may be discharged after a year but your credit record will be damaged for a further six years from the date of your bankruptcy and you may well end up with an income payment agreement for three years.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 23 January 2011 : 18:26:35
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Hi izzy skint,
I had a call last week from a lady who was contacted by IVA Debtline and told she was mis-sold her IVA. She had been in her IVA for 3 years.
Following advice from this company, she failed her IVA and paid £1000 in fees. This was August 2010 and she hasn't been able to contact them since.
I can't verify this story, this is just what she told me. It seems that they may be one of those companies that scour the insolvency register and contact anyone in an IVA, promising the earth.
Be very careful.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 23 January 2011 : 18:35:39
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If you have more than £20 per month surplus income you will have an Income Payment Agreement which will last for 36 months.
Another point to bear in mind is that even though your home is in negative equity the OR will not deal with this until at least 2 years and 3 months from the date of BR.
Viki, I checked the website and they are based in Poole in Dorset and I have to say that always rings alarm bells with me.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 23 January 2011 : 18:40:59
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There have been posts on the sister forum about them. They're ambulance chasers who scour the Insolvency Register.
Viki - wouldn't surprise me if that story is true.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
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Edited by - Niobe on 23 January 2011 18:53:10 |
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izzy skint
Starting Member
United Kingdom
3 Posts |
Posted - 23 January 2011 : 18:51:24
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Traceyjr, your blog is great, you should write a book, i have only read some but plan to read it from the start. thanks everyone for the replies so far, i will approach my IP even though they are pains in the RS.
jocky |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 23 January 2011 : 18:53:38
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Hope you can get some help from them.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
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debtinfo
forum expert
2826 Posts |
Posted - 23 January 2011 : 21:18:18
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| poole, dorset - that seems to ring a bell or 2 |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 23 January 2011 : 21:37:14
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Exactly Debtinfo! It's a shame that such a lovely part of the country has so many dodgy companies there!
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 24 January 2011 : 02:30:40
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Some debt companies are good and provide a balanced view on your options and consequences, some are dreadful!!
Some Insolvency Practitioners are stunning and have great teams supporting them and really do what is best for the client. Others are dreadful.
Like everything there are good and bad. Always better to go with someone referred to you.
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
08454 751 851
Real People ..... Real Debt Solutions |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 24 January 2011 : 10:03:44
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Referral is good, but unfortunately debt is still a taboo subject and not many people will discuss it.
That's where forums like this and the sister IVA site are invaluable, along with www.iva.com.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 24 January 2011 : 10:04:43
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The vast majority of the ambulance chasers come from Poole - they obviously make enough money from the unsuspecting to be able to live down there!
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 24 January 2011 : 12:38:24
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I completely agree that debt is a taboo subject. It is often easier to talk about divorce or intimate personal problems rather that debt.
Over 70% of our clients are recommended by existing or previous clients.
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
08454 751 851
Real People ..... Real Debt Solutions |
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about to go into BR
