br company has done a "runner" HELP !!!!!

[liz.e]

We entered into an IVA in Oct 2006 and kept paying until September 2007 when i was approaced by a company speciallising in bankruptcy. They advised us that this would be the best option for us and we paid £900.00 for fees to sort this out. In feb this year we found out that the company had done a "runner" and our IVA has since failed as a result of this. We are currently trying to sort this out but do not know where to go. HELP !!!!!

[Viki.W]

Oh Liz, that's awful, who was the company?

[moretolife]

oh my goodness liz e....this is awful for you....welcome to forum...i am sure one of the esperts will be along to help you out...

[MelanieGiles]

Hi liz and welcome to the forum

I am saddened to read this post, as there is a lot of this sort of thing going on at the moment and a lot of perfectly good IVAs failing. Why did you feel that bankruptcy was a better option for you at the time, and did you discuss this with your Supervisor?

This has happened to me recently, with just a couple of clients, and I have to say I was very disappointed that neither of them felt that they could discuss their intentions with me at the time - but I am of course aware that some bankruptcy assist companies are very persuasive and will promise you the earth.

May I enquire which company you were dealing with - both for the IVA and the bankruptcy advice?

[liz.e]

It was a company called Hampton Trust based in Glasgow. We spoke to the police and they have said that Scottish laws are different to english laws and therefore could not help. Oh and the first piece of correspondance since last year arrived today from Hampton Trust asking for another £250 to be sent to a 3rd New address to our adviso . We were with debt Matters before and this has now been passed to Grant Thornton and I cannot seem to get anywhere with them. We can actually afford to make payments but nobody wants to take it from us !!!!!!

[MelanieGiles]

Grant Thornton are an excellent IP company so I am suprised by your comments - but no IP is going to be too sympathetic if you deliberately failed your own IVA due to advice given by one of these companies. What made you think that the grass was greener in bankruptcy? Or what did your "advisor" tell you?

[liz.e]

We went to citizens adivce as at the time I was a self-employed childminder not earning much money and we also had a call from Hampton Trust advising us that this would be the best option ( we did not call them). Looking back we regret it but at the time we were desperate and having 2 young children we panicked. I could kick myself. I returned to work full time in Nov 2006 and have since had a promotion to a shift manager in a call centre and therefore can afford to pay it back in installments. We currently live in a rented house but the owners want to sell next year and have given us the option to buy which i really want to do but need to clear these debts first.
I didn't mean anything bad about Grant Thornton but as our case is being transfered over at the moment, they cannot get a full picture of what is going on.

[MelanieGiles]

How many IVA payments are you behind at the moment?

[Adam Davies]

Hi
A warning to all.
Always consult your IP in the first instance when you have concerns or affordability problems.
Regards

[liz.e]

we last made a payment last September