had the most devastating phone call from my IP

[ivamole]

scaredkez, I've set up a link to your blog from my blog at The Voluntary Arrangement Mole (http://voluntaryarrangementmole.blogspot.com/) if that's OK. I will of course remove the link if you object. Let me know.

I'm also in the process of writing a blog article on Synergi which I hope to post tomorrow - so if anyone wants to add 'case study' comments (corrections/whatever)they will be welcomed before I widen the publicity.

[scaredkez]

no problem ivamole anything that helps anyone steer clear of them is fine with me,can i ask did you personally have a bad experience with them?
kerri

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

[scaredkez]

what annoys me most is when i first went with them my hubby said i don't trust them, that was before anything and i just said let me deal with it, normally he is the thicko and i just wished i had listened to his sixth sense (which doesn't happen often) he always said debt councillors and synergi sounded too good to be true but then again we hadn't been in this situation so we i mean i didn't know any different, but in the end talking to other ips we couldn't have done an iva anyway not enough disposable income, but then again we wouldn't have missed any payments we would have struggled on.
please don't tell hubby i admitted a failure i will never here the end to it!
kerri

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

[ivamole]

Hi Melanie, I think it may be easier to gradually raise issues on my blog rather than risk prejudicing my case at the moment. All I can say is that the action in the High Court has probably come down to my bankruptcy vs the IPs licence but I am confident that I can now prove that he was incompetent, negligent, dishonest and in breach of both the Insolvency Act, the Rules and the Statements of Insolvency Practice.

One thing I have learned along the way is that the County Courts may be competent to deal with routine insolvency matters but most District Judges are probably not even trained to deal with contested insolvency matters or applications against IPs under s.263 of the Insolvency Act - the only avenue open to debtors who feel that they are on the wrong end of an IVA.

The County Courts are the first line of regulation in IVAs because the professional bodies will not usually intervene in individual current cases and in my experience the courts are failing debtors who inevitably have to represent themselves and then find themselves up against barristers funded by the IP's insurers.

Case law is so sparse because most cases are cut off at birth because most debtors and many advisors do not know how to bring an action through the courts. Debtors also risk so much in going to court that intimidation is easy. I doubt that many debtors would have stuck with it (as I have) since 2004.

That's why I feel very strongly that there is an urgent need for an independent ombudsman or 'one stop' regulatory body who can deal with complaints quickly and efficiently. There are certainly lots of insolvency regulations but in personal insolvency cases I believe there is no effective regulation of incompetent, amoral or unscrupulous IPs.

When IPs say they are regulated they are often talking about all of the restrictions, prescribed fee structures etc. that apply in corporate insolvencies where all sides are often equipped with both lawyers and accountants. The power relationships and the actual regulatory controls are completely different in personal insolvencies and the individual debtor is more vulnerable and open to exploitation as a result.

I think many of the experiences aired in this Forum would support that view.

[scaredkez]

i agree with you mole i work in dentisry and although we are governed by certain bodies they are there for he professional not the layman and will do anything to cover them within reasonable practising services and thats what frightens me with the compalint to the ipa as they cove their clients first and foremost i have been there and done that thats why they pay their fees , thats why i say if enough of us can give wind to a compaint it may at least give them something to look into
kerri

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

[neverending]

ivamole
quote "That's why I feel very strongly that there is an urgent need for an independent ombudsman or 'one stop' regulatory body who can deal with complaints quickly and efficiently"
I cannot agree with you more.
Good luck with your case

[andrewl]

Well, as expected I eventually got a phone call late Friday from Synergi. They said that the IVA had been rejected (as if I didn't already know!!). KPMG want another £130 a month and the car payments after month 35 (end of credit agreement)but the trouble is here is that the car's on a lease and it goes back...no transport to work.

I suggested to Stuart that he renegotiate it as I wasn't happy with any of it. I suggested that my wife gets a loan (at month 35) for £4k (over 60mths) to pay a 'balloon' payment to keep the car as it would be cheaper than buying another. It will add £125 to the payments as the loan would be only £100 (original lease £225). I did stress that we didn't want to be stretched to the limit as KPMG is not in the least sympathetic to our plight after my phone call to them, stated that I have 'enjoyed' my credit! How inaccurate I'd rather have had better health and jobs!

Just to kick a man while he is down, my company are going to change the shift system which will mean 7 on 7 off which has caused discord at home and after hearing that 100 jobs went in the department downstairs on Friday, ours might be in question as well in the long term. Has all this been a waste of time now? Nothing seems to be going right - scream? I just might..

[MelanieGiles]

Andrew

I am sorry to hear that your IVA was rejected. I stongly recommend that you get your money back from this company, as in my opinion this was a poorly presented IVA.

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

[freelili]

This just sucks and I really feel for you, I wonder what would have happend had you gone with a different company. How much money they have made from you so far?

I am so sorry andrew, you have tried your best and I really do not know what the answer is for you. So many people have had problems with this company. They will continue to thrive on the 'shame' of their 'victims' and bring shame to the profession. If all the stressed out voices could 'scream' at the same time and in the right place, maybe something would be done.



LILY

[andrewl]

After the Creditors meeting was ajourned last week, I have had to shout at Stuart from Synergi to get it sorted. They keep repeatedly (4 calls this AFTERNOON) about why my wife only brings home £308 per mth. This I had said over and over again is a health issue and is very private. It seems KPMG aren't going to let her contribute such a paltry amount and think she is capable of earing £1000's a month. Who are these automatons? Do they not understand when someone can't work full time due to health problems, they just can't work anymore hours? I told him even if my wife was unemployed that I would still financially support her - of course I would, then why are they questioning me about her all the time? It got very personal in the end and I told him to tell KPMG to shove it if they don't like it. Has anyone else had this?

Right now I am 'throwing in the towel' as Synergi is clearly unable to negotiate anything and never will be able to get me the IVA I was promised. I received the documents today from the rejected proposal and it is idiotic...yes did I mention they wanted 100% dividend?
I looked through the voting schedule and saw that 3 of my creditors weren't on it, as a result the money owed looks less than it is! One particular well known creditor will tend to make you bankrupt as a matter of principle without all the facts!

My goodness, this is a complete mess.
I only hope no-one else has dealings with Synergi as you quite honestly on a road to nowhere. When I took out the proposal I was told many 'untruths' and this is testimony to their lack of profesionalism and lack of loyalty to the debtor (who, incidentally, as we all know, pays their wages).

New Creditors meeting tomorrow PM anyway (for what it's worth).

[scaredkez]

andrew the 100% dividend was a stipulation in mine too, i just have to prove to the IPa now how incompetent they are, i am sure if you feel the same way as i do that a complaint is in order mine is there already and i hope others complain to add weight to it all, i am sorry that you to have been deceived by this company.
i have already stated i am only a small fish in the pond but if others have been there and complain if anything we can stop this happening to others, so sorry mate i am now going BR i wish there is something i could say or do that would make it all go away
kerri

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

[MelanieGiles]

Hi andrew

If you still feel that an IVA is the right way forward for you, don't give up. Have another go with another IP who is prepared to represent your case properly. This will not cost you anything, so you really have nothing to lose.

I have never heard of KPMG having an issue with a spouse who cannot work full-time due to illness - indeed I feel that they are crossing the line by making some of the suggestions that Synergi are quoting them as saying. I cannot help but feel that it is your IP that is not liked here and not the proposal itself.

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

[andrewl]

Thanks Melanie, I'll look into another IP - are you available? The thing is, the Gestapo type questioning by Synergi was the limit. They also called again today (which completed demoralised me) by saying that KPMG have accepted the £680 p.m with a further rise of £126 at month 36 (car lease ends). I am afraid I just told him that after taking an extra £90 p.m (which is birthday,Christmas, phone money etc) I asked him if he would mind telling my family that there are no birthdays or christmas's for the next 5 years as I couldn't. He then retorted that I had suggested the figure (after bullying me) and the figure stood. He always phoned when I was driving or in the middle of work and couldn't really answer the questions or relate to paperwork - clever ploy!

I am afraid I just flipped and asked what he was playing at and how much was the new dividend...96p! WOW! he really did a lot of negotiating there - not! I could have done better myself and I don't know the industry. I suggested that my next move was bankruptcy which got not real response, I really do think they haven't got a clue, as they just wanted an email stating that I want to go no further, well after 6 months I have got absolutely nowhere at all apart from incurring more debts.

I am going to HAVE to write to the IPA (with you, Kerri) as this is just totally unacceptable behaviour for an IP company when they have given in totally to pressure from a voting house. I just hope that you're right Melanie and that Synergi is just a disliked IP company of KPMG, as I don't think I can go through all this upset again with no result.

Just to give you an idea - simple maths really..my debts were costing me £1000+ per month, my disposable income is £551 (at a real push) this only relates to income from Feb 2006 to present, before then it was abismal. The main worry I have with the £680p.m is the continuity as if myself, or my wife is off sick/made redundant, then neither of us get paid - I already lost 3 days pay due to sickness, before Xmas just to prove it. If there is no room for manouever for this type of unforseen expense, then the IVA will fail...? Is there any way out of this?

Andrew.

[neverending]

Andrew
There will be a way forward for you.
Speak to another company and get a second opinion.
If your debts are 34k and your disposible income is,realistically, £500 then you should be able to return over 20k to your creditors,a 60p dividend.
As Melanie says you have nothing else to lose.
Good luck

[MelanieGiles]

Andrew

I am happy to discuss this with you off-line. If you would like to fill out the income and expenditure questionnaire on my website, and e-mail it back, I will have a look at your situation and give you an honest opinion as to whether I feel you should represent or look to other options.

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