IVA firms.

[admin]

Hi Andrew,

We have to take the view that that this may be a one off and not representative of the industry.

Unfortunately very few creditors post on the forum and therefore it is easy to 'creditor bash'.

People are sometimes frustrated with their creditors because banks want their money back in the event of non repayment. This can possibly lead to creditors forcing people into bankruptcy (or using the threat of bankruptcy to encourage customers to do IVAs or DMPs).

At the risk of being controversial: this money was leant in good faith and on the understanding that it would be paid back. The banks play an important role in our society, if they were not prepared to lend money to people then this would cause hardship. The lack of availability of funds (liquidity in the market) would mean that peoples' cash flows start to become strained and they would then be unable to either sustain their circumstances or take advantage of business opportunities (which may or may not work out).

Whilst we do not particularly want to express an opinion either way, we would like to point out that bringing creditors to the debating table may help in generating greater transparency to the problem of bad debt management.

IVA.co.uk is actively trying to get the input of creditors on this forum and at our events. So far our efforts have largely been in vain (we have had some success), we shall continue to try.

Balanced views on this forum that acknowledge both sides of the argument would probably help our cause.

Best,
Admin Team

[Adam Davies]

Hi
Having been through heavy debt and an IVA I can honestly say that I do not blame the banks at all for my debts.Yes they should have a stronger loaning criterea,especially with automatic credit card increases,but at the end of the day we are all adults and can say yes or no to credit.What is apparant is the need for banks to realise when people "can,t" pay as oppossed to "won't pay" and I think that anyone that has instructed an IP needs to be treated with dignity and left alone until the creditors meeting is decided.
Let's start looking at ways to educate people so that they do not have to go through what we are going,or have been,through
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

[pixie]

I would like to hear creditors points of view and perhaps we can educate them too! We are human not just numbers on a balance sheet.
My debt is entirely my responsiblity but saying that better credit assessment on their part would have reduced it. Only one creditor saw the writing on the wall long before I did. Whilst this annoyed me at the time, it was very responsible lending. They are also the only ones that never chased once and voted yes.
Creditors should be able to tell the difference between the can't and won't pay debtors and should treat people accordingly.

Pixie

[Andrew Graveson]

Hi Admin,

To balance my point I will say that the conversation referred to shocked me as I know a significant number of current and ex bank employees who would never engage in such activities.

All industries have rogues and it would be unfair to expect banks to be immune to this. The special position of trust that banks hold does however confer an unusually high level of responsibility to identify and deal with such behaviour.

I'm happy to say that I believe such behaviour is very rare, but I'll still be checking my statements at the end of this month.

Andrew Graveson
Independent Mortgage Broker & MD Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk

[pixie]

There was a tv program on this a few months ago which sent a reporter undercover into a call centre for a certain bank. This showed employees being told to sell certain finance packages and included them putting charges for upgraded bank accounts onto customers accounts without their knowledge.
I can't remember what the program was though!

Pixie

[iva.com]

Hi hara,

I'm sorry to hear that you are receiving a poor level of service from your IVA firm. Would you consider posting a review of your experiences at www.IVA.com? This could help those considering an IVA to avoid such problems.

Kind regards,
Terry Balfour
IVA.com

IVA.com - The IVA Comparison Site
100s of reviews, All IPs and IVA firms rated.

Use our IVA firm comparison tool to find best IVA firm for you:
http://www.iva.com/iva_comparison_1.asp

[mikebdomain]

Pixie the program was about Barclays and to be honest was a little one sided for my liking..

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LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
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http://mikebdomain.blogs.iva.co.uk/
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