i have been asked by an insolvency expert for £600.00 up front and the bill after his recommendations is this normal considering my sercomstanses i thing he`s trying to suck the blood out of me if i`m right please let me know and i`ll tell you all who they are
am15
Some companies will charge you upfront, these are usually the ones who are intermediaries and pass you on to another company. They are not necessarily an IP.
If you are not happy, and haven't actually got an IVA yet, there is nothing to stop you from looking elsewhere.
Why not look at www.iva.com and read all the reviews on there about IP's.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I would be very wary of being asked to pay a large sum up front, unless its a good will payment asnd you have the promise of getting it back if the IVA is not accepted.
My advice is don't pay any upfront fees. There are plenty of companies that don't charge any upfront fees and they will do all they can to help you and steer you in the right direction. After all the whole reason you are looking to go down the IVA route is cos you can't meet your contractual obligations.
Good luck.
Before we all start passing judgement, about cirumstances we perhaps do not fully understand, why not ask what this payment is for, and whether it is refundable in the event that the IP is unable to get an IVA accepted.
As Mrs Skint rightly states, it is correct to be wary, but you might find that it is the best £600 you spend if it actually helps you to find a solution. I suggest that you explore all options - up front fees and no fees to see where you feel that you are getting the best advice.
I went to a company who charged me £750 before they would forward my application to their sister company. I was just so desperate for help that I paid it. The sister company dealt with everything well and I have now been in my IVA for nearly a year, but wished I had shopped around before parting with £750. And without a doubt, if I had found this website, I would have contacted melanie as my first choice!
We paid two payments of £1000 each to Thomas Charles before our IVA was passed on to Melanie back in Dec 2005 and Jan 2006. I assume they kept this for preparing our paperwork to pass on. At the time we were glad of any help we could get and as we were paying nearer £3000 a month in credit card and loan payments it didn't seem too much.
We now pay £900 a month but have a lot lower income as my husband no longer works.
Yep fell into that trap too, made 2 payments to Thomas Charles when I could have just gone to a IP direct and be 2 more payments further down the line, i.e. making 60 payments instead of 62
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
The thing is that a lot of people are so desperate for a way out of their problems that they will grab at any lifeline thrown to them, and these are not necessarily the right ones.
As Melanie says though, these companies are not all sharks, and genuinely want to help. The problem is knowing which is which.
Debbie S has had a positive outcome with her company, as have a lot of other people.
You just need to make sure you find the right one.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I am with Blair Endersby and paid £600 in total over 2 months up front - this was nabbed by the creditors at the meeting and not kept by BE as it transpires.
I had no problems with doing this and I feel their service has been excellent throughout.
My IVA took 6 months to set up and I paid some money every month this money is part of my IVA and I finish paying the IVA in April 2010 but the IVA is completed in the November 2010. This wasn't explained to me at time so I wrote to IP who explained it to me. So it might be worth finding out what the money is for. As I found when I was setting up my IVA I was so relieved that my debt was being sorted I now realise that I didn't ask enough questions.
Jan
Nothing you can buy feels as good as not being in debt.
Hi
I used a "no payment upfront company"for my own IVA but,as I have said many times before,would have preferred to have paid upfront and received better advice,service and communication.
It was the lack of knowledge and the feeling of total isolation during my IVA that made me post on and develop IVA.co.uk
Regards
I think it depends on what happens to the money, and what sort of service you get. I don't feel I got great service from Thomas Charles, and I don't think they did anything extra to earn the money than I could have done if I'd gone to an IP myself - not that I knew that was an option!
It's also scary when you read about the likes of Synergi taking money up front that isn't part of the IVA and then taking months to arrange a creditors' meeting.
I went with the first friendly person I spoke to, and in my case it was the wrong decision - if a company is going to take money up front then ALL options must be explained, and explained properly by an advisor. It's not good enough to just send a booklet out explaining the options - when you're in a state (and in some cases suicidal) then what you read often doesn't make sense.
