But the vast majority of people who do enter IVAs, are very happy with the procedure, and end up being debt free at the end of the period by entering into a viable proposal at the beginning, choosing a reputable IP to represent them, and honouring their commitment to pay to the best of their ability.
It is sad that things have not worked out like this for Billythekid.
I know there are some posters who are unhappy, or should never have gone into one in the first place, but as Melanie says, the vast majority of us are happy.
I'm 9 months into mine and going along quite happily at the moment.
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
I think the majority of people are happy, but unfortunately I'm not one of them! I would never criticise IVAs though, because if people are properly advised they are a very good thing.
IP's must give appropriate advice to all who are looking at a debt resolution solution and if the IVA is the appropriate way forward then that will be the advice given which should be taken. At the end of the day it is the debtors decision. Most persons are happy with their IVA's a few because of changed circumstances regret it. It is a wonderful procedure to avoid bankruptcy and in the main it works!
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
I think it really depends how well youre advised and what company you go with, speaking for myself, and my circumstances, I was advised to go BR but I chose to go into an IVA, thats what I wanted. However events overtook me and I did neither... I was confused, scared and alone, well thats how I felt at the time, which is another thing to take into consideration. There are horror stories in all walks of life, sometimes individuals are so stressed out when making one of the most important decisions of thier lives, the professionals involved will have a hard job to know whats right. Are we always as honest as we could be when making that first call? for instance? I was so scared I missed a couple of debts off as I didnt want to be judged.
In my humble opinion it would be great if all of the options were printed out and there was time to consider everything,without harrassment from creditors and that feeling of total and utter shame, it would be so much easier to make the right choice.
Last edited by freelili on Wed Jan 07, 2009 10:54 pm, edited 1 time in total.
Sorry Lily that you were frightened and scared. That is human nature. No one should be ashamed of the position they have got into - overspending and banks/credit card companies giving out dollops of money makes it hard for people to resist. Also the thought that house prices keep on going up and up.
There is nothing to be gained by not being honest since the correct advice will then be proffered.
There are mainy practitioners who post on this forum who have web sites that give wonderful information and you should research them.
The first step is to acknowledge that you have a financial problem - thereafter it gets easier and there are some wonderful characters that post on this forum who will give support.
Last edited by David Mond on Wed Jan 07, 2009 11:14 pm, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Good idea - although I don't think that I was as I was just pointing out the benefits of mine and Melanie's web sites for information.
Tell you what I will give £100 to a charity of your choice everytime I mention my firms name in the context of a reply rather than specifically saying go to *******. What about that as a compromise?
By the way I then go and re-edit them to more generic terms!
Last edited by David Mond on Wed Jan 07, 2009 11:18 pm, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
I never, ever intended to be 'dishonest' I am a single Mother looking after two disabled kids, I worked full time and I couldnt cope any longer, something had to be done and I knew nothing. I spoke to a company who said, ooh you have a lot of debt... £31K he did a sharp intake of breath and I felt terrible, then I phoned another company and missed two out that totalled less than £100 pounds and hoped to sort them out before I had to declare them... I didnt know anything nor did I have another adult to talk to about things, I was completely alone... and very scared.
I can understand that and I believe you were not being dishonest just frightened. Anyway that is in the past and this site was probably not around at the time. Help is here for everyone.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Well Andy- maybe you guys should re-consider especially if proper charities could benefit!
Last edited by David Mond on Wed Jan 07, 2009 11:26 pm, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Lily makes a very good point when she refers to the idea that if creditors would give their customers a period of time without harrassment to consider the way forward, we would probably see less forced decisions and more informed choice of debt solutions.
Yes I know it is Utopia, but put it on your list for your next committee meeting(s) David - there is far too much unecessary nonsense once creditors become aware that a client is insolvency and taking professional advice.
