The setting up of an IVA or DMP should not involve any fees being paid upfront. No reputable company will charge you.
You may be asked to pay your initial DMP/IVA payment upfront so that it is ready to go if you are approved, but that is all.
If you are thinking of a debt solution, I recommend you either visit www.iva.com for a list of reputable companies and reviews or click on the expert link on the left hand side of the page. The professionals who post on here come highly recommended and will advise you as to all the options open to you and the best way forward for your circumstances.
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
Chris, Eurodebt don't try to con you - they are quite upfront on their website about charging you.
That said, I wouldn't touch a company like that anyway.
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
As stated the majority of firms do not charge upfront fees for either an IVA or DMP and those that do would need to explain cogent reasons why!
Last edited by David Mond on Thu Feb 05, 2009 7:51 am, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
The ones who do charge are usually 'arrangers' - they don't have their own IP's and pass you on to a firm who does, and they obviously charge you for doing this.
Make sure, if you are going down either of those routes, that you choose a reputable firm with their own 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
Hi Nanette, we paid an upfront fee to a company who passed us on to the company who set up our IVA. We have been very happy with this company so far, but in hindsight, we could have kept that money and gone straight to one of the professionals on here with no fee.
In saying this, guess how we paid the upfront fee [:I]
Wouldn't have been a credit card would it BOT?[:)]
If it was, I can't believe they allowed you to pay by that method when that's what you were trying to sort out![:0]
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 should have been a detective BOT, instead of a PC Plod![:D]
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
A packager has taken a payment for a potential IVA by credit card when it is preparing to put forward a case for Insolvency, thereby directly increasing the indebtedness of the individual who is Insolvent?
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
No Size5, we didn't pay directly by card, we withdrew the cash - not their suggestion by the way - desperate people do desperate things, nothing that we're proud of. It does however highlight the point that people are making of avoiding these tactics and going direct.
It does raise a whole new debate though, as you have alluded to above, on the issue of how quickly some firms want upfront payments in and where clients get the money from.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
Our thoughts exactly, fortunately we were still at the point where we hadn't missed any payments - but were about to, and we still had a card that wasn't maxed out. What would we have done then if we had no credit left????
