HSBC ans IVAs

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gord

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Post by gord » Wed Jan 07, 2009 11:33 pm
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I am meeting with CCCS and HSBC is one of my creditors - second biggest at 18K will this be a problem ?
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David Mond

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Post by David Mond » Wed Jan 07, 2009 11:35 pm
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Not really, although you might be better off if HSBC have over 25% of your total debt to seek another IP - visit www.iva.com for recommendations and reviews
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.
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David Mond

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Post by David Mond » Wed Jan 07, 2009 11:38 pm
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Andy - well was not a fan of theirs for many years and primarily they were doing a good job of work for banks as they only did DMP's. We have seen loads of cases where they did DMP's which might be considered inappropriate advice and until recently their web site, no matter what facts and figures you put in would only recommend a DMP - lets be honest they are funded by the banks. However today they have changed, hopefully for the better and they now do IVA's. So lets see what happens.They had a wonderful girl representing them on the Standing Committee but she has moved on.
Last edited by David Mond on Wed Jan 07, 2009 11:40 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.
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MelanieGiles

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Post by MelanieGiles » Wed Jan 07, 2009 11:57 pm
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They have been trading the VA division for far longer than the summer of 2008. Andy and I visited them in May 2008, at which time they claimed to have over 250 IVA cases under supervision, and were doing about 20 per month I recall.

The HSBC criteria is set on compliance with IVA protocol, and level of dividend return over 2008.
Regards, Melanie Giles, Insolvency Practitioner
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David Mond

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Post by David Mond » Thu Jan 08, 2009 12:00 am
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Sorry I meant summer of 2007 - well they must have not got their act together then!
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.
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