have received a letter from the 'IVA Council'

[TheMatrix]

Exactly my situation right now with just under 3 years left to run, i've lost my signature ticker, on my IVA.

Matt, in your case, if you make yourself bankrupt, two years in to your IVA and therfore only 3 years from a cleaner credit record, you will find yourself bankrupt. Yes it may only last a year. But it's going to be on your record for another 6 years. Further if the duly appointed Trustee reviews your IVA history and after contacting your IP finds out that you were in an IVA that had not been subject to any default, that Trustee is going to do their best to secure income payments ... (Correct me if I am wrong) you're looking at three years worth.

But hang on ... your IVA has only three years to run ...

You've spent a thousand and odd pounds making yourself bankrupt ... but now you've got an income payments order.

Unless I'm mistaken, you aren't going to be better off at all, in fact you're going to be worse off and add to that the added six years on your credit record.

[Cybus]

I have just seen yet another letter - pre printed, and in the same fonts from a debtor who is two years in to their IVA and has asked that it be noted that they have stopped making contributions and have asked for a certificate of termination be issued for them to present to the District Judge. The level of contribution in this matter is not insignificant. They have never missed a payment. Prior to receipt of this letter today, that debtor had not expressed any concerns over the IVA and had been fully compliant.
Whoever they are speaking to - and it can probably be narrowed down to probably two 'organisations' is obviously not giving them any sort of best advice and most likely has imposed their views on the debtor, since that debtor had previously complied with the terms of the IVA without question. It's another one to add to the list to be reported in the 'sticky' post.

[jill109]

I received a letter from integrity and like I,ve said before, DFD rang out of the blue one day, and by chance it was at a time when we were beginning to struggle with our payments, although had not defaulted yet on any. They immediately offered us an IVA and as we had never been in debt we did not realise there were other options available to us. I have since wrote to DFD and asked why other options were not given to us, they replied "We never gave any options because we felt that was the best advice to you". Is that fair or unfair? a mis sell or not remember they contacted us not vice versa.

[Cybus]

If you have that in writing from them, they have not helped their case, as they have clearly advised you that they have not given you the required advice. They are required to present you with every option available and to give you the advantages and disadvantages of each of those options. It is then up to YOU to tell THEM what is best for you and not vice-versa.

I would say this is potentially a case of being given poor advice. If you have it in writing, that they " ... never gave any options because we felt that was the best advice to you." They are on poor footings when it come to defending themselves.

HOWEVER ... I would not take this up with the IVA Council or anyone who has contacted you directly regarding this as a aresult of a trawl of the EIIR.

You should take this up with DFD in the first instance and in the lack of a satisfactory outcome to you, you should take the matter initially to the IP's licensing body and / or the Financial Ombudsman. Under no circumstances should you take up a matter of 'mis-selling' or 'bad advice' with an organisation who knows nothing about your IVA other than the facts on the Electronic Insolvency Register - They will want to charge you a fee! If they want a fee, they have only one thing in mind. It is always better to seek advice from the regulatory bodies in these instances

[jill109]

Yes I do have it in writing from DFD it reads as follows: With regard to your IVA and the fact that we did not offer you any other options, this is because an IVA was the best advice for your situation at that time.
Please advise whether we should pursue this, we are totally mixed up with it all, and don,t know what to do.

[Cybus]

You have to consider your position carefully.
You have entered in to an IVA. How long long have you now been in an IVA. Have you been complying with the terms of the arrangement?Are the terms of the IVA ones that you are comfortable with?

[jill109]

We started our IVA this January so only 4 months in, no we are not comfortable with the payments and trying to get them changed we have paid what we should of so far.

[Cybus]

I wonder what has now prompted you to suggest that you are uncomfortable with the arrangement?
Notwithstanding their failure to explain the alternatives available to you, they would have forwarded a draft proposal document to you that would have outlined the basis of the arrangement, which I assume is contributions of £XXX per month for 5 years.
Did you not query at that time what was being proposed or raise any concerns with them? What did they say?
Again when it came to the creditors meeting there was still opportunity to back out at that stage if you had any concerns. I wonder why you chose to continue at that stage? What, if anything did they say?
You're now bound by the terms of the arrangement and if you back out of it now, you've effectively thrown that money into DFD's pockets and you would be back to square one.

[MelanieGiles]

An odd letter to be sent by an IP firm - I wonder if it was signed by the IP personally or, if not, are they aware that such letters are being sent out in their name?

[jill109]

Our circumstances drastically changed a month into the IVA. I had to give up my job to look after my daughter who had to have an unexpected operation with a long recovery. I only started that job last August and my annual take home was £9,900, I had to give the job up in february a month after the IVA started as they couldnt keep my post open that long (long story). So at the end of the tax year I have only had £4,800 take home not what I had stated and we were living on one wage for 2 months. Our IVA is set at smaller amounts during winter then increases to nearly £600 through Summer as my husbands job pays better during them months. I now thankfully have another job, but have asked dfd if they would even the payments out so we are still paying the same but at £318 pm all the time instead of £64 in winter, which would ease things as production at my husbands work is not picking up like it usually does from April onwards. I have wrote to them along with the queries about not getting proper advice, they have replied to the answers over not getting the advice but want our bank statements sending for the last three months, which I am going to do when I get our end of year P60,s next week, so they can see what we have earnt properly.