Burying my head in the sand

[scaredkez]

i agree melanine, it only takes one to jump on the band wagon and ruin it for those who genuinely want to help, it then becomes so confusing with the hundreds of companies out there only looking to make a quick buck off the backs of those who are desperate, and then for the likes of you, who has worked in the industry for so long, make it harder for you to do your job that you know inside out and have to come up against the refusals now because it has become "anyone can get away with their debt easy talk to us", and these poor people are entering agreements now without knowing they are going to fail, while you work in the background trying to find out what is going on, and you suffer as the consequence as your clients are not being able to get their iva's through, a lot more of the creditors are going to go the same way and its a shame as a lot more people will go BR with their demands, sorry starting to waffle, can i just ask tho what is the little unknown government legislation actually suppose to mean?

hopefully soon it will sort itself out, or do you think they are starting to panic incase the SIVA'S are introduced?
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[MelanieGiles]

I think that creditors, quite rightly, are looking at the IVA industry with closer eyes and want to see value for money and a consistent approach from practitioners.

Although it may appear that there are great divisions at the moment between the profession and the lenders, from my own experience of sharing thoughts with a lot of IPs I know, we are largely supportive of the DTI and BBA initiative and welcome change. It is also good to understand the criteria expected by individual lenders, so that we can continue to give proper and appropriate advice to our prospective clients.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[sonyse2t5]

I came across an article from a site call Myvesta IVa,with some American links. One of the blogs suggested that The Banks in the US have controlled the 'IP industry' and the methods are now been used here.

It was alleged by the author that he predicted this will happen in the UK and that IP community need to take a tough line with the banks....with government inoput.

[MelanieGiles]

The banks here have always controlled the "IP industry" in that they are the ultimate decision makers, and vote as to whether IVA's are acceptable or not. No change there!

There is no place for the IP community to take a tough line with banks - the IP community must restore confidence in the IVA as one method of financial recovery, and ensure that consumers are advised of all options available to them allowing them to make reasoned choices as to the most appropriate course of action to repay their debts.

This is already subject to a lot of liaison between the DTI, banks and insolvency practitioners, where a lot of good work is being done out in the field, and all elements of the profession and banking community are working together to find common ground. And at least 80% of IVA proposals are still accepted!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk