My husband and I started an IVA application in October 2008. Since starting the application we have sent all documentation back quickly and started paying the company who is managing our proposal since the end of October. Since December I have continually been told that the IVA proposal is currently with the underwriters, by the end of December nothing had happened with the proposal and we had still not hear anything, despite been told we would be contacted on several occasions. I finally contacted the company between Christmas and New Year and was told that due to the heavy workload IVA proposals, our file had been passed to the company's sister company for processing, although our proposal will still be managed through the original company. It is now approaching a fourth month of missed payments to the creditors and things are getting very intense. Each time I speak with the company, I keep getting told things should start moving quickly but still nothing seems to happen. My husband and I are in a mess and whilst I appreciate these things take time, I do not feel we have the support from the company. Has anyone else experienced similar problems?
Thank you so much for your response. The company does not begin with an S, it begins with a K. Yes we have been paying the comapny as we were told we needed to be seen to be making payments to them or the creditors would ask why we were not paying them.
Right then, if youre not happy with this company now do you really want to stay with them for what is probably going to be one of the most important decisions of your life??
I wouldnt give them another cent, I know its the last thing you want to hear right now but now is the only chance you will have of finding what you deserve, someone that will give you 100 satisfaction at such a stressful time in your life. I have been there, its a very daunting place to be. I am sure that you could be up and running in 6-8 weeks.
The creditor calls you are getting are coming from call centres who are paid to extract money from you and say all sorts to get it.
Please think about phoning another company, all the experts on the site come highly recommended. Melanie particularly by all who have used her.
You deserve so much better than this for plucking up the courage and trying to do something about your debts. I know how horrible it is to do that.
This is not acceptable - and certainly not when you are making contributions. Why have they asked you to pay so early?
If this is indicative of the service you have received to date, it is not likely to improve once the IVA is in place - whenever that may be. If you feel like approaching another company, and explain the nature of the delays to them, there is no reason why an IVA could not be put together within 24 hours, so long as all of your creditor information is completely current.
Do remember that you have to spend the next five years in this company, and I feel that there may be a warning for you in all of this. Firms should not take on work they cannot cope with, at the detriment of clients who need a special sort of care at such a stressful time.
Which firm are you with, and what made you choose this particular provider?
If this company are getting your money every month there really is no incentive to do anything to push things along is there, mean while your 5 year goal posts are getting further and further away. Dont put up with it anymore.
I really hope you can sort this out and very soon.
Good luck for now and please let us know how you get on.
Last edited by freelili on Thu Jan 08, 2009 9:16 pm, edited 1 time in total.
I think this is dreadful. Are all these payments you are making going towards a potential IVA or are they fees for the company? If you were unsuccesful in getting an IVA, would anything be refunded to you.
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
The Company is called Kingsgate Insolvency. My husband and I were not really full aware of our options when our debt eventually came to a head. We had never heard of an IVA and the company were one that we actually contacted to enquire about a secured loan prior to opting for an IVA due to no equity in our property. I really feel ill with all the stress, with creditors now threating legal action I honestly don't know what to do for the best. The thought of moving elsewhere is daunting at such a critical time and i am worried we will have a repeat occurence.
Do people normally get asked to pay for the IVA at such an early stage.
IPs cannot argue that more than one payment in advance is part of the IVA contributions - because any building up of contributions would have to be disclosed as cash in hand in the debtor's proposal, who then would be required to still pay 60 payments on top.
This is undoubtedly being taken towards the IP fees - and this firm are clearly overtrading if they cannot cope with their work. As you rightly point out, our poster ought to find out specifically how the money is to be disclosed to creditors and why things are taking so long to process.
Some will ask for one or two payments and some not. I dont know the company you are with. I am so sorry that youre going through this now. Please dont worry too much about the creditors at this stage, they always threaten legal action but those are for wont pays not trying my very best but not being treated very well customers like yourselves. I didnt pay my debts for over 12 months, I didnt get taken to court, I could have opened my own paper factory with the threats.
You are not to make yourself ill with this, easier said than done, I know. I dont know your circumstances or what your options are. As previously said I am not an expert in these matters, an ex debtor who is still off sick with stress related illness. I didnt know anything either at that time, its very difficult to trust but I can tell you that you can trust this site and Melanie who posts here, I have met her and she is genuine, dont take my word for it though, there are plenty here who have first hand experience of an IVA with her.
We are here for support as much as advice, most of us here have been through or are going through what you are facing. Its a dark place indeed, we are your friends.
Hi and welcome from me.....please don't pay anymore to this company and please try not to stress out over it. I know its easier said than done,but your health really is more important than money.
Do you have documentation from this company that states what is happening to the money you have paid?
Why don't you contact another company, one that doesn't take money upfront and get their advice? If only to confirm that an IVA is the best option for you.
We also made the mistake of going with a company that took fees upfront and took an age to sort the proposal out. So you're not alone,we can all be wise after the event.I wish I had found this forum before the IVA was in place, but better late than never.
You will get all the support you need on here, so please keep posting. xx
This company was mentioned on an earlier thread today - can't remember which one though. I'd never heard of it before then either.
I totally agree with everything Lily has said though. You shouldn't have been making all these payments.
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
