Thank you Goosed for saying that, to a degree I feel the same, all £320 + per month was going on interest and the dreaded PPI on one card for about 2 years or so before the IVA. The balance was going down and them boom, interest rate raised and was getting to my credit limit without spending anything on it for years (had never missed a payment either)
Can you let us know which firm have given you this advice, as I think I would like to refer the matter to the OFT. Surely this sort of nonsense is going to be stopped soon?
Melanie, the company is called Jefferson Hobbs. The guy that visited me went on to display letters (with him as the named person with credit) showing where large amounts had been "written off" as non-enforceable. I didnt sign anthing there and then as was (thankfully) skeptical but strangely I have had no follow up calls or pressure to take this route. I do find it strange that he was able to state there and then that my payments would be reduced to £250 per month (making it obviously seem appealing) without even asking about my income and expenditure (first six months being their fee) but they would obviously be in a win win situ in any case. As Bridgewood quite rightly said too I could then be in a situation six months down the road paying over £1300 to Jefferson Hobbs, a failed IVA whereby the last 8 months of paying to IVA wasted and back to original debts facing bankruptcy!!! Not a pleasant thought. Many thanks to all who have replied to my post and confirmed that what seems to good to be true usually is.
Good old Jefferson Hobbs eh! This company will say and try anything..I had a conversation with them once and advised them to check out this forum if they want to hear true advice to help people in debt.
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
