I have an advisor coming tomorrow, reading lots of bad on internet and now doubting them.
I have 10.5k loan which with Barclays partner finance which im now not sure is attached to the car as the loan doc say "for purchase of car" and no reg etc and 9k on credit cards which we are only just covering interest! Is an IVA for me???
I am sure they have many satisfied customers but they do seem to have bad press on here at the moment.
Please visit www.iva.com for a list of other companies and reviews and give one or two a ring for some free advice before choosing where you want to go.
The forum is here at anytime for advice and support.
I don't know if an IVA is for you, hopefully experts may roll on soon to advise.
In terms of using DFD I have used them for mine and can't fault them at all. I have just had mine approved so have yet to deal with them post IVA approval.
I think, if you look far enough, you will find bad press and horror stories about most firms , with one or two noteable exceptions. It's a fact of life, we all do it, that we complain when things go wrong, but rarely sing praises, so most of the press is bad.
I think, with the current PPI issues following right on the tail of the VAT problems, most firms are having difficulties, one way or another and it appears that it is the larger organisations who are finding it harder to stabilize.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
If I could foresee the future of IVA closures, and it was in the abstract chaos and P poor definition it is now, I would go BR and not even feel a dot of guilt about not paying my creditors a decent penny in the £. IVA's are taking up to and over one fifth or the time taken to pay them off, this is wrong, stressful and shows a dire lack of professionalism or care.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
I too am with DFD, up until July of last year nearing to the end of my IVA i hadn't had any problems with them, however that can't be said now and to be truthful i wouldn't recommend them to anyone, they are too big and don't look upon you as a human being. That said that is only my opinion,i wish you good luck Charlotte regardlesso of who you go with. x
Om shanti, namesté, good luck to all who are embarking on the IVA journey, it isn't always an easy one but the outcome is the best.
IVA COMPLETED August 2012, received Completion certificate 18.4.13.
Always worth shopping around take the advice of DFD but talk to a couple of others before finally making a decision. you'll know when it feels right. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I have mixed feelings that echo Orchid5. up until earlier this year i had gone 5 yrs+ & found them to be superb. They seem to be bogged down with chasing PPI now and far from organised; personally i feel they are now more focussed on getting PPI claims in for their cut, more so that their obligations to creditors and im of the opinion this is where a great deal of their manpower is focussed, this means your phone call doesnt get answered & automatically cuts you off after 7 mins in the queue ( & this they call CUSTOMER SERVICE !! )
in fairness though i list below the good points
ANNUAL REVIEWS - completed in days not weeks/months & some years no increase to my contribution. I once said I thought i could afford to pay slightly more & they told me not to be stupid !!
CHANGE OF CIRCUMSTANCES - when i suffered a take home pay cut of around £800 a month, they were superb & arranged a variation meeting that saw a more affirdable payment for me ( i was convinced this would be rejected & my IVA would fail, they were superb )
In all honestly if I were starting out again , knowing what I know now through the IVA forum, I would pick either Mealanie Giles , Andy Davie or Sam Hawkins - I wouldnt choose Grant Thornton or DFD, for the numerous posts on here attributed to poor service
DFD are not as good as they are used to be and you may want to read the annual report of their parent company, Fairpoint Plc, that may lead you to form an opinion as to if they are the right company for you ; of course they are in the business to make a profit and they did help me get rid of my debts,but i think if you read some of the terminology in their annual report, this may well put you off going with them
Good luck , hope ive been objective and showed the good sides of DFD as well as my personal opinion of their failings
Last payment made April 2012
Certificate received 1st Nov 2012
we were with DFD and had no issues,but this was before the big PPI issue. You need to be comfortable with your chosen firm...if you are having doubts then i would say you need to speak to a couple more before you decide ....five years of working together is along time and it is vital that you make the right decision now.
consider www.iva.com as a site to review other options.
best of luck!
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Had you asked me a year ago I would have said yes go with DFD however now I would not touch them with a barge pole. I am also in the same boat at orchid and 12 months to go and battling to get my completion certificate.. From what I have read on this forum I would go with Melanie or Andy Davies..
As 12 months to go said Grant thornton also have bad press and if i was looking at IVA now I would avoid them too..
Sounds like you have taken out a bog-standard personal loan with Barclays - they've just put 'car purchase' down as the reason for you wanting to borrow the money. Had you brought the car on finance, that might have been a different matter.
The IVA will allow you to keep a 'modest' car (my car was worth around £7,000 when I agreed my IVA, and that was OK). Fair to say though, that if you have a very high value/prestige vehicle, you might be asked to downsize. See what your adviser reckons at your meeting.
Also, I wouldn't be lead entirely by internet reviews. DFD are a big IVA provider, and the bigger the firm, the more likely you are to get negative reviews. (I suppose however that larger firms may not be able to offer the 'personal touch' that some of the smaller firms are able to provide).
See how your meeting goes tomorrow. Then have a chat with 1-2 other companies, and make your decision from there.
As for whether or not an IVA is for you, my advice is do your homework (this forum is a great place to start - wish I'd found it prior to my IVA). Might bankruptcy be an option for example? (depends on the value of any assets you have.
Very best of luck in what you decide to do. The important thing is that you want to sort out your debt, and an IVA will allow you to do that affordably (and it was the right option for me).
My opinions are just that: Based on my experience and being a self-employed IVA customer.
We are also with DFD. On some things they have been really helpful and sorted things out, however, on others they don't seem to want to communicate. I now wish we'd gone with a smaller firm to get the more 'personal' touch so that the people you actually speak to know something about your situation and you don't have to go through everything whenever you manage to get through to them. Hindsight - what a wonderful thing.
As others have said, I'd look around a little more before making a decision but no harm in seeing what DFD have to say to you.
Good luck
F&F approved May 13 - just awaiting Completion Certificate - moving to a new Debt Free life !!
Not sure if anyone has said it here but always remember that the IP makes his / her living from you. They are not doing this as a favour to you or because they like you they charge a fee which comes out of your monthly payments.
Its a professional relationship no matter how nice they seem to be when you meet them..
