I am so angry..

[bagpuss]

well as angry as i can be...cos i am quite a happy person...

But... a friend who knows we did an IVA has rang asking all about it...i guessed she had debt and gave her as much into as i could and even directed her to this site. (cos i'm nice like that) anyway she then goes on to say..."so we can have our kitchen done, run up all the credit cards buying loads of stuff we want and then just get it all written off"....i was so insulted that she thought this way.

If she knew the pain and hardship that people go through, the guilt and feeling so useless.

Anyone else had this said to them...?

[Adam Davies]

Hi
I think that people can perceive an IVA like his but reality of being in an IVA is so different and what people do forget is that if you are a property owner you will have to release a large slice of your equity to repay your creditors.
If someone wanted to run up debts just to have them written off then they would just opt for bankruptcy.
I can honestly say that 99%+ of people posting on this forum are genuine and looking for a way to repay their debts,the odd one or two who come on looking for ways to avoid paying are soon shown the door.
Being in debt and going through an IVA is an extremely harsh experience and it,s hard to explain it to people who are not in that position.
That,s why it,s nice to have a forum like this because everyone knows how you feel.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[mikebdomain]

I can understand your anger. Not the 'right' attitude at all, and the one of the reasons why we see creditors against IVA's.

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[iva experts]

Hello Bagpuss,

Unfortunately there are a small percentage of people that see an IVA as an easy way to get away with their expensive lifestyle where they have lived beyond their means. To be honest if that mindset does not change they have not learnt anything and are no better off.

You might want to mention to your friend that if she takes credit out with NO intention to pay this back she is actually committing fraud which is a serious offence.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

[Sensible77]

If your friend did this and then applied for an IVA very soon after, the creditors would probably pick this up and it could lead to the IVA being refused - that would wipe the smile off her face.

[BrassicLintus]

But Bagpuss, she'll be laughing on the other side of her face when she realises that during an IVA she'll be required to re-mortgage to release equity - so she'll end up paying one way or another!!!! And the fact that she's going to do her kitchen up means it's likely that it will increase the house value - and therefore she'll end up releasing more equity!!!! I had a "friend" who thought exactly the same - bought a car, did his house up, had loads of holidays etc, designer clothes etc, thinking that he could just "do an IVA" but the reality was he didn't have enough disposable income and is now facing BR! I'd love to be a fly on the wall during that OR interview!!!!!

[OPTIMIST12]

I think that this is the very reason that IVAs HAVE to be tough - otherwise they would just be abused by people wanting to freeload off creditors. As things stand today anyone who enters an IVA in good faith is obviously making a serious attempt to repay what they can. We all know - or are quickly learning!!!! - that it is a long and hard road.

I have never really understood how IVAs first came into being but it would be a tragedy if they were to come to an end as a result of deliberate abuse.

I hope Bagpuss' friend is in a small minority!!!

[Adam Davies]

Hi
IVAs were initially designed for self employed and entrepreneurs and I think that the goverments insolvency services were taken aback by the explosion of IVAs.To give you some idea in 2001 there were 6300 IVAs taken out and in 2006 there were 44300,nearly eight times as many.For bankruptcies the figure increased from 23500 in 2001 to 62900,just under a threefold increase.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[OPTIMIST12]

Those are interesting figures Andy.

I wonder why the Government did not take charge of administering IVAs - as they do with Bankruptcy? Presumably if they had done so it would have been an extra source of revenue for the exchequor if the Government had declared themselves as Nominee and Supervisor!!!

[MelanieGiles]

Probably because the work requires a qualified professional to deal with it - just like the cases they refer to private sector insolvency practitioners which are too complicated for them to deal with???!!!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[OPTIMIST12]

Very good reply Melanie!!!!

But surely there could have been IPs working direct for the Government??? Or maybe not - I dont know!!!

But I AM glad that someone somewhere invented IVAs!!!!

[mikebdomain]

[:D] OPTIMIST12 maybe because this country is still a democracy and not (yet) a socialist state… [:D]

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Mortgage Broker
Specialising in adverse credit.

see feedback and testimonials at:
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Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf

[Lisa2009]

Personally i think my IVA has been a HUGE learning curve and not something EVER want to have to do again. I lived beyond my means and came unstuck. Deffinately not going to go there again EVER.

[aguise]

I agree skint it is a huge learning curve, and I so look forward to the day our wages go in the bank and it is ours and we owe money to nobody. I am so happy now not to have any credit avaliable. The iva is a great solution for the right circumstances, though much of this depends on certain factors, a good IP, reasonable and livable I and E, and the right attitude of wanting to pay back what you can. I feel so sorry when people put there best offer to an iva even when bankrupcy would the least expensive option for them, only to be turned down for no apparent reason.



ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[Maz]

I think that's terrible! People should try their best to pay back what they owe whether long term or short term if they have got a regular income. BR is a last resort if one loses their job or through illness. I don't have any assests to speak of but I have started to try this IVA to get shot of everything I owe and be credit worthy in the future (not that i want any more CCs in the future, it's mainly the CCs that caused my mega debts.) I took the IVA option because i would like to take out a mortgage sometime but with BR I dont think i could have that option.