Hi im hoping someone can help me, my parents have just started the IVA process but i am worried that the company that they are considering may not be legitimate. The company is called Greenwood finance and although they have been very helpful over the phone, i took it on myself to do some research and have read some very concerning reviews. We are really struggling financially at the moment and the word bankruptcy has been mentioned. The last thing i want is for my parents to end up making a bad decision out of fear of bankruptcy. Can anyone please help before their decision is finalized? and if possible give me the details of a credited company for my parents to contact regarding setting up an IVA?
As your parents are not yet in an IVA it would be asy for them to change companies at this stage. A good company will tell them of all options open to them, including bankruptcy but it is something they have to do so that your parents are well informed.
If you visit wwww.iva.com you will find a list of companies and reviews. Give one or two a ring and you will find free and impartial advice. Make sure that they are totally happy with the company they go with.
The professionals who post on here come highly recommended as well.
You also find great advice and support on here.
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
Just to add that whoever they decide to go through they are going to have to stick with them for the duration of the IVA and you wont be able to change your supervisor so before it is approved make 100% sure you are happy with them right from the start.
In a way I've been lucky with that respect, but that was through more luck than by judgement.
There are many good companies, and individuals who post on this forum, my IP is not on here however. But iva.com would be a good place to start
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
Hi - the name itself rings alarm bells. Generally I would associate a name with 'finance' in the title as a lender and when I googled them nothing came up except for Greenwood Personal Credit. If this is the same company then your parents are not being offered a legitimate iva. GPC are likely to be offering to restructure their debt - this is a perfectly good way of managing their debt but it is not an iva. Take a look at the link suggested above and ask your parents to speak to another two or three firms who will advise on dmps, br and ivas. As GPC appear to be misrepresenting their product, I would be wary of entering any agreement with them.
I think there have been posts about these before but I can't seem to find them.
The OP and parents should certainly seek further advice before setting out on the IVA path.
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
Thank you for the replies, i have just realized that i got the name of the company wrong, it is in fact Churchwood Finance (apologies it was quite late when i posted my question)
There are so many companies taking advantage of people, its hard to believe any of them when they say that they can help.
I've removed the link to the company as it's not allowed. Don't worry though, we all do it sometimes!
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 think Churchwood are ok, but I do recommend that your parents speak to one or two more companies before making that final decision.
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
They look like they have fingers in every pie, are they getting upfront commissions? I went with a company called Thomas Charles (Who are no longer trading as far as I can see) they took me for a couple of payments upfront which did not go towards the IVA. Then got a introduction fee from my IP too!!!
I'm wondering if they are the same sort of set up as I went on their site and it seems they are referring people to Kingsgate Insolvency.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
Churchwood Finance are a fee charging DMP Company, they offer IVA's and consolidation loans too. Have a look at IVA.com and have a chat with a couple of companies before making any commitments.
They sound like introducers and if so you will have to pay upfront as they do all the leg work before passing the details on to an IP company.
If your parents don't want to make any payments, there are a lot of companys out there who don't ask for upfront payments.
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
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
