a little conserned

[h_s]

hi there ive recently decided to go for a iva route and decided to go with a company called debt release direct. do you know if this company is successful because they wanted a payment before any action has been taken and ive heard this could be bad news. I have paid the initial fee but have not heard from them for a week. a little conserned.

[Lisa2009]

Its quite normal to be asked to pay before the IVA is set up. It just shows good will to creditors when the meeting is arranged.

[pixie]

Hi HS

You can check them out at http://www.iva.com/iva_comparison_1.asp
I don't think most companies charge anything before setting up the IVA but some do. Personally I wouldn't and didn't! A week isn't too long though and I wouldn't worry yet.
If you are having doubts this early though it would be worth asking a few different providers for advise. If your IVA is successful you will be with them for the next 5 years.

[iva experts]

Hello h_s,

I would advise that you have a look on www.iva.com to see how other individuals have rated debt release direct. Also I would advise that you speak to at least 2 or 3 companies, that way you can make sure that you are getting the correct advice.

Some companies ask for up front fees as they are providing you with a service.

[emma_t]

Hi hs and welcome to the forum

When paying up front fees ask what happens to them:

If your iva is rejected , do you get the payments back?
If your iva is accepted, do the payments go straight into iva?

I personally paid 1 payment before my creditors meeting to show my commitment, and this counted as my first payment into my iva.

If you are concerned ring the company and ask more questions and how long things take
Best wishes
Emma