IP say scams but they say IP is stealing money

[tinkerbell]

I've just had a call from UK Bankruptcy Ltd who say my details have been passed on through the IVA Council and that I have been mis-sold my IVA. They also say that my IP is under investigation for this and I should default my IVA & take bankruptcy instead. How do I know who is telling the truth now? My IP say they are scams but they say my IP are stealing money from me! Help!

[Adam Davies]

Wow
Now this is getting serious
Do not default on your IVA.
How much are they going to charge you to bankrupt ?
Can you give a brief outline of your IVA and circumstances ?
By the way these two companies are linked
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

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

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

[Cybus]

If I were searching for a company to deal with my financial affairs because I was experiencing financial difficulties, I would endeavour to locate one who had a basic grasp of insolvency.

I have only looked at one page of Bankruptcy Limited's website and it happened to be that relating to IVA's.

It's what I would describe as 'Technically deficient'. I would be interested to know who will actually have the guts to put their name forward as the person responsible for putting this up on public view. They're set for ridicule. I certainly do not believe it is an Insolvency Practitioner. I think an IP would get the technicalities right first and these certainly have not.

To repeat what was said above ... UNDER NO CIRCUMSTANCES should you even consider defaulting on your IVA. I would also speak directly to your IP at the first avaialable opportunity as he / she may well be interested to know that they are 'Under Investigation'.

Tell it like it is.

[MelanieGiles]

Tinkerbell - did you actually ask the IVA Council for advice? And are you happy with the service currently provided by your IP and are glad that you decided to propose an IVA?

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

[tinkerbell]

Thanks for replying - I've never been on a forum before so was unsure what to do!

I have had my IVA exactly 12 months, my debts were £27,881, I earn about £15,000 and also get regular maintenance payments monthly and also WFTC & child benefit. My car was used as an asset on my IVA as I can't afford to lose this, being a single parent I need to take my child to school.

UK Bankruptcy Ltd want to charge me £1000 (in 4 installments of £250) to make me bankrupt - this pays for a legal team to guide me through it & also for them to provide the court with paperwork so that I don't get an attachment of earnings (which apparently I would if I did it myself). I was also told I would have to pay £485 court costs direct to the court.

I was very happy with my IVA as my debt problems had caused me so much stress I was happy to get it all sorted out & felt relieved at the time. However, now it's been pointed out that I have another 4 years to run on my IVA whereas if I went bankrupt it would all be over in 12 months (or less) and my money would once again be my own - with my IVA & bills I have about £20.00 spare a month and it's tempting to consider their offer but I don't want to make things worse again!

[MelanieGiles]

The decision you have to make is whether you want to, or feel obliged, to repay the people who lent you the money in good faith in the first place.

UK Bankruptcy Ltd, and the professionals who are attached to them, advocate that everyone without assets should go bankrupt and not pay anything back to their creditors - or merely pay the minimum amounts. They take no regard for people who feel an obligation to honour their commitments and repay as much as possible, or the people who lent the money in good faith in the first place.

Why do you need to pay someone £1,000 for assistance in filling out a relatively simple form. It is ludicrous for them to tell you that this fee will stop you getting an IPA or IPO - unless of course their "legal team" is going to deliberately massage your figures to show that you have no disposable income! I would be careful as you are leaving behind an IVA where you have declared disposable income of presumably £250 per month.

I think that it is a shame that you did not consider the options available to you when you first took the IVA out - as presumably you had the option of a cheaper, shorter bankruptcy at that stage. And if your car is worth more than £2,000, have UK Bankruptcy advised you what will happen about that under bankruptcy proceedings?

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

[bigpete]

Have I got this right?
Found this on the Companies House website: (amazing name changes?)

UK BANKRUPTCY LTD.
24 GREAT KING STREET
EDINBURGH
EH3 6QN
Company No. SC138613

Last Accounts Made Up To: 30/09/2006 (TOTAL EXEMPTION SMALL)

Previous Names:

Date of change Previous Name
25/04/2001 DRILLING SYSTEMS (HURN) LIMITED
07/04/1993 D.S. WELLTRAIN LIMITED
15/09/1992 BETTERWELL LIMITED
22/06/2005 BOURNEMOUTH ESTATES (CHRISTCHURCH) LIMITED
16/10/2002 VICKERSTAFFS LIMITED
16/04/1999 DRILLTRAIN (UK) LIMITED

[Emily]

Morning....

Looks like you have people competiting for your business of getting out of debt. Your last para' about an early discharge is an interesting as it is the case that some people an be discharged as early as 7 months and after that you have a clean slate and your money as you say would be yours again.No claims can be made on you even if you then inherite or something.

You have to make the decision yourself based on the best allround advice.You are the customer.

Bear in mind that you'll still be out on a limb in getting credit for 6 years if you go BR.The BR record will stay with you for that time as in an IVA

[mish1953]

Early Discharge - 5 mths 11 days in my case

Tinkerbell - I did my own BR - it cost me £485
- You can lose your car, you need to read up on this
properly
- I am paying an IPA for 3 years
- I am a single dad ( 15 yr old daughter )
- Tax credit & child benefit do NOT count as income
for your I & E

The IVA Council web forum has gone very quiet this last month or so - no one from the IVA council seems to post on there at all now.

Slainte
Mish


Early Discharge is not an illness !

[Emily]

Mish, I notice you post there a few times...

That IVA council site is a front for business, it is linked to Bankruptcy.co.uk.

[size5]

The question for me would be where did they get your phone number from? Presumably you did not ask them to call?
UK Bankruptcy are in Bournemouth, which coincidentally is where the IVA Council is based.

Cybus, Up until recently the front page of their website contained, word for word, an exact copy of a post on the IVAC forum from early November from Nick Peat IP, which championed bankruptcy over IVA. This can now be found by clicking on to "important bankruptcy information" on the front page and is, in my opinion, no more than a rant against what the IVAC labelled "IVA Factories" It should be noted at this point that that post has been heavily edited on the IVAC forum, by whom I do not know, however you may wonder to yourself what the connection between IVAC, Nick Peat and UK Bankruptcy actually is. Very strange.
I would also point out, again, that the IVAC website cannot at the moment be accessed at all, if you type in IVA Council into Google you can access the privacy statement but not the home page or forum, it has disappeared completely. If and when that site gets up again, if you go on to it you will find them encouraging people to take advice from either "chartered accountant IP's", (Mr Peat, if memory serves me right, signs himself as such) or from "government licensed debt adjusters".
Bizzarely, if you type that last phrase into Google, about 4 lines down you will come across UK Bankruptcy in the best of Bournemouth site where they advertise the following:

"No need to worry you don't pay our fees, your creditors do!!"

"Did you realise that we can write off up to 90% of everything you owe?"

It seems that UK Bankruptcy used to provide IVA proposals (they no longer do, I've phoned them) but also they used the worst type of hyperbole to try and sell them. Which is the very thing they now claim to be completely against, along with IVAC.
How very very strange.

I also wonder whether Melanie received the list from Malcolm Brown of the IVAC that she politely asked for on about six on seven occasions?

[MelanieGiles]

Hi size5

I did eventually get a list of my clients and an apology letter, but it took a while to extract.

I am disappointed to see that this firm are still sending out letters telling people not to engage their IP, which affects the credibility of what they may have been trying to so.

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

[bigpete]

Don't know if I can do this (i.e. put in a link) but this is from Moneysupermarket who have quite a bit to say about the IVA Council.. they answer a few questions too!

http://www.moneysupermarket.com/communi ... 12677.aspx

[Emily]

Bigpete, that ivacouncil is working fine I just checked.

[aguise]

I noticed the day before yesterday that it was not avaliable but it s now as emily says.

Ang

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