We seem to have got off the subject of middlemen.
I know there are good packagers of IVA's but, in my experience, there are as many bad one's out there as there are good.I know a number of IP's who simply start again, after the referral, normally having to put the client right on a host of issues that have been glossed over by the introducer and reworking the figures that the client doesn't agree with.
I'm not necessarily talking about DM companies here, but they certainly feature in this topic, and the problem stems from badly trained staff being pushed to sell on remuneration packages that incentivise taking short cuts and glossing over the nasty bits.
I know that there are a number of IP's who simply do not provide a satisfactory service but the regulatory regime is in place to deal with these people and IP's are required to maintain detailed records to record the reasons why they have acted in a particular way. It's then down to the regulators to do their job.
But the middlemen have no regulators.The OFT and the provision of consumer credit licenses in the debt industry seems to be virtually automatic and apart from a relatively minor shot over the bows regarding advertising earlier in the year you don't hear much about the OFT taling the unregulated debt industry to task.
And while this board is testament to some of the failings of IP's, don't forget that they are subject to the most effective regulator of all, the creditors who will vote no to poorly presented and uncommercial proposals.
I'm afraid kpw that I don't generally share your view that middlemen, within our industry, are a good thing, whilst they remain unregulated, and until the DRF gets its act together on this sector the client will more than likely continue to suffer.
And Andy, you are still on my Christmas card list!!
