Reviva UK wrote:
Hi
As some of you know my company also writes to people in IVA's but wherever possible we try to facilitate a "reconciliation " betwen the IP & client in the event that the relationship has broken down.
The reason that the above letter says "don't tell the IP" is simply that they want to collect their fee ( 3 payments of the IVA contribution ) before the IP really gets wind that there is a problem. Thus there is no opportunity to reconcile or seek either a modification or early settlement from external fund.
The challenge that we have is that there are basically no regulations for general debt solution companies other than having a consumer credit license and data protection registration etc. So in theory anyone could start a company like this tomorrow.
I would welcome regulation in the industry asap!!!!
I actually thought that these letters - because hey were so misleading and threatening- were subject to an Advertisig Standards investigation and ruling
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