Early Settlement of IVA

[humblewoman]

I have been in my IVA since Jan 06, I just recently received a letter from Jefferson Hobbs saying it would be better if my IVA is settled earlier to avoid the equity clause in the 4 th year.

I am due my annual assessment this month and over the last year I have had to deal with a cancer scare, (which was benign thankfully)my partners change in job which means his amount of income that assists with my IVA reduced by £170 and I have been diagnosed as clincally depressed due to all the above and also a stressful job whereby I am trying to earn more to pay more into my IVA.

Jefferson Hobbs said they could negotiate an early settlement with Debt Free Direct and my creditors because of my change in circumstances but I am worried I will be jumping from one pot to another and paying more charges.

Has anyone else been approached by this company or someone similar ?
Is what they say true or should I discuss this with my IP?

Thanks for any help and advice you can give me

[MelanieGiles]

If you are struggling with your IVA payments, you should speak to your IP and not to companies who mailshot using information contained on the Insolvency Register.

Your IP has detailed knowledge of your case, and it may be possible to offer an early settlement so long as your circumstnaces are suitable and that you just don't want to get out of paying a long-term commitment. Given your recent health scare, and reduction in your partner's salary, this may be a possibility.

Personally I would beware companies who cold call, but that is just my opinion.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[humblewoman]

Thanks Melanie, its great to get an honest answer. These mailshots fill you with false hope and at the end of the day there is no easy get out unless you win the lottery !!!!

[aguise]

I have received one from them as well in the past, these companies seem very busy today !

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[humblewoman]

I am so glad I came across this forum and I can speak to other people in the same boat - thanks Ang for yout blog address ive just read it and cant believe yourself and so many others are in the same boat as me - I thought I was so on my own

[aguise]

Hi humblewoman. You are not on your own here, we have all felt the stress of debt, the forum is great for advice and support if needed.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[Adam Davies]

Hi
With the help of your IP you can arrange a full and final settlement yourself,without the need of a third party.This forum can support you along the way with unbiased advice and there are several bona fide mortgage brokers that regularly post on here that can advise on a remortgage.
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp