I think we all have to accept that there are human beings behind IVA companies and we all make mistakes from time to time, whilst sending personal sensitive information to the wrong person is clearly a breach of information governance, I don't accept that one episode of this in itself automatically makes this a 'bad company' to work with, personally it would have to be a catalogue of errors that the company continually failed to deal with in a professional and appropriate manner that would make me form that opinion.
I do however think that many people clearly do not understand what they are getting into when they take on an IVA, I see it all the time with many questions that are posted on this forum from people 2, 3, 4 years in who are suddenly shocked to discover they have to try and release equity, have to pay back arrears from overtime they didn't realise they had to pay in etc etc, on the whole all these things are stated clearly in an IVA proposal and people should make sure they understand all the implications clearly before they sign on the dotted line. We took 6 months to sign from making our first phone call as we wanted to ensure we fully understood everything so there would be no nasty surprises further down the line. I underatand that people are very stressed and are desperate to gain an IVA acceptance but after all the debt stress you go through, this really is the time if any to take a step back and really examine what you are taking on with an IVA, it isn't the golden ticket for everyone and people really have no excuse for not taking the time to research and ask lots of questions and ensure they really know as much as they possibly can about how it will affect them before they take it on.
For us our IP gave us the full information of the differences between IVA and bankruptcy, both were an option for us but the deciding factor for us was hubby not being able to continue in his job if we went BR so that ruled that out, but that was our decision, all our IP did was give us the facts and let us decide, they offered no opinion of which would be best for us
Last edited by lem on Fri Aug 10, 2012 10:39 pm, edited 1 time in total.
I had someones payslips sent to me early on in the IVA but just sent them back. OK, it shouldn't have happened but as you say, they're only human and mistakes do happen.
We suggest that people should read, read and read again their proposals before they send them back. If you're not sure of anything, phone your IP company and ask.
I was more than happy with the service I had from mine.
clearly a big deciding factor wether you go for an IVA or go BR is will it effect your future or present job,i checked which the correct people if going BR would effect my job and they said,as long as there was no fraud involved it would be fine,im sure there are thousands of satisfied people who are in or who have been in an iva,but i still feel that a lot of people are not taking the correct advice or are being given missleading advice about going BR,in general ,bankruptcy seems a dirty word still ,if only people knew that its not as bad as they think it will be
Last edited by terry d on Sat Aug 11, 2012 3:26 pm, edited 1 time in total.
never cment on me speling its rubbish and i didnt go to schola lot okk
made bankrupt 1st august 2012 at 10.00am
now disharged so bankrupt no more thank god im free of debt now
Bankruptcy has nowhere near the same stigma that it used to have but the majority of us chose an IVA because we didn't want to lose our homes and we want to pay back as much to our creditors as we can.
I was certainly fully informed of all the debt solutions right from the start.
It really is a personal choice based on personal circumstances and of course getting the right information in the first place helps.
We experienced a very poor IP service and hubby ended up going BR ( didn't affect his job and we kept our home). I know if we had found this forum before making any decisions, our journey would have been easier.
Hopefully, by us all contributing to the forum we can help others to make the right decision for them.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Michael Peoples
If your IVA has been failed you will have to propose a totally new IVA based on a one off payment. If the IVA has not been failed another variation will need to be called. What have you to fear from bankruptcy and why was the variation rejected?
Bankruptcy ! I have a home with about 15k equity between me and my wife, a rental home in negative equity and a home in spain, again in negative equity. I just need some advice, of what to do for the best.
If your IVA has been failed you could approach another IP for advice. If the IVA is still live your own IP should be able to help. Are you still on the IVA live register?
