IVA provider that specialises in the self employed

[steven.a]

Good morning, after the last horrendous few years (seperation, car crash)I got married this year and we are expecting our first child... my life is about constantly trying to make monthly payments that I am struggling to meet. I contacted Debt Free Direct three days ago but they have not responded to my email (i sent my questionaire over electronically).... for me time is of the assence, i am hard of hearing and prefer my main point of contact to be by email or meeting face to face. I run my own consultancy firm. Please could you advise me of an IVA provider that specialises in the self employed and is likely to undergo communication by email?

[ray_a]

Hi Steven a

Welcome to the forum!

There are many IP's who deal with self employed people and I would suggest that you use one associated on this site.

If it helps IVA's were introduced to assist self employed people like yourself.

The site has many links to IP's so just shop around. Do go and meet them personally and remember that you need to get on with them as they will have a big say in your life for the next five years!

Good Luck

[MelanieGiles]

You will need to meet your IP personally, so try and find one in the same area as you if travelling is a concern. Generally the smaller firms are perhaps more geared up to self-employed cases rather than the larger ones, although this is not the case with every firm.

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

[Adam Davies]

Hi
As you are self employed an IP has a duty to hold a face to face meeting with you.
What part of the country do you live ?

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

[steven.a]

Thank you for all of your messages, I am actually based in Daventry, Northamptonshire. I called Debt Free Direct on Monday, sent the form out electronically... finally feeling there may be a way out. Starting to think I need a smaller based firm, not an 'IVA factory' as per some reviews I have read.

So to narrow it down, locally based, hot on email and specialising in people who are self employed. If anyone gets in touch with me personally I would be quite happy to email my questionaire over for some much appreciated comments.

[steven.a]

The debt has generally increased over the last three years with a sharp in increase between July 05 to July 06. In January 05 I separated from my partner of 8 years (we have a young girl together who was 3 at the time). This resulted in me having to leave our jointly owned house, for the time being I paid the mortgage which was £980 a month in lieu of my house share and child maintenance. This was perfectly fine at the time due to my good business income.

In July 05 I was in a big car accident in which I almost lost my life, this resulted in me having to be in hospital and taking a lot of time off work. Injuries I suffered included scarring to my face and body, in addition to disfiguring my back and shoulder posture. Due to these injuries I suffered losing my two big clients at that particular time resulting in a big dramatic drop in income. When I had my car accident I was in Malta (my family is Maltese) this caused great difficulties in trying to take legal action, a route that has now ended. For the year July 05 – 06 finances were disastrous which included lack of work (due to my injuries I had to be geographically close as I was unable to drive long distances and was unable to work full time due to health care, physio etc.) I also had to continue paying a mortgage of a house I was not residing in. I ended up signing the house over to my ex partner as I simply could not afford to maintain the mortgage and she was unfortunately not pro-active in selling the house, resulting in my hands being tied. I received a small fee which was proportionate to the value (this was £16,000 which was used to clear my NatWest credit cards balances at the time).

From July 06 onwards I started to get my business back on track, now the business is functioning very well with an income of approximately £4000 a month (£3000 after tax, expenses etc). The main clients I have now are XXXXXXXXX These are envisaged to be long term. I have also obtained further clients who use me from time to time such as XXXXXXXXX. One of my earlier lucrative clients who I lost during my injury year XXXXXX have also stated that they intend to use my services again in February or March next year,
In April 2006 I was hit with a tax bill for £7200, and because I had used my cash reserves for the lack of income shortfall and medical expenses. I arranged with the Inland Revenue to pay £500 per month, both tax bill from April 2006 & 2007 have now been paid in full. I am expecting my next tax bill in April 2008 to be in the region of £3000.

I have tried everything from asking my bank Natwest for an overdraft to manage my payments, I have tried getting a consolidation loan but this is unfortunately unfeasible due to my credit rating. I do not have enough collateral in the house for a secured loan. I have changed certain payment dates with my lenders to try and get the outgoings to be consistent with my income.

Our families paid for our wedding this year hence I am unable to ask them for financial assistance during this very difficult time.

I have a hearing impairment (I wear two hearing aids) which means I have limited ability on the phone. This has caused numerous problems with trying to maintain a relationship with my creditors. For an example Natwest or Virgin do not liaise by email. I am also unable to take telephone calls, which results in my lenders aggressively chasing me.

This year I got married to my partner of two years, the wedding was paid for by family on both sides as a wedding gift. Whilst my income is back up to good levels the consequences of the previous years are holding me back. All of my income (and a shortfall) are tied to my debt outgoings, this is not only affecting my health but is also stemming my business’s potential growth due to lack of funds for marketing i.e. in terms of me taking unpaid days to meet potential clients or doing 1 or 2 days exhibitions.

I have just found out that my wife is now expecting our first child together; this has prompted me to get help as I recognise that this problem can not go on. I need to be a good husband and father which is very important to me

[aguise]

Hi Steven
Congratulations to you both for your expected baby. i am sure there will be a solution for you. One place to have a look at is iva.com they have reviews on all the Ip's and firms and you can find the ones local to you.

All the best Ang

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

[Adam Davies]

Hi Steven
Thanks for posting,once you find a suitable IP you will be on your way to a brighter future.
Take your time,you will need to feel comfortable and confident with your chosen IP.
Even if you have to travel a fair way for your meeting,do that. It will be worth it in the long run.
You sound as if you are rebuilding your life and an IVA,if suitable,could be the final piece of the jigsaw for you.
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

[steven.a]

Thanks for the messages. At the moment I am now struggling to make my payments, please can you advise what I should tell my creditors whilst I am looking for a suitable IVA provider? What happens as soon as I appoint one? Do they get in contact with my creditors to hang fire whilst this is sorted out? I appreciate your messages, thanks

[Adam Davies]

Hi
Until you find a suitable IP just say that you are seeking professional advice with regard to your debts.
Once you appoint an IP they will normally advise you to stop paying all unsecured debts,use this time to get upto date with all utility bills etc.
Your IP will write to each creditor but you will still get many phone calls etc.Just stick to your IPs advice,either make no payments or send token payments pro rata to debt owed.
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

[steven.a]

That is terrifying... the creditors will go beserk.

[steven.a]

Sorry I also meant to say thanks but posted the message before I got the opportunity to type the second sentence. Thanks

[Adam Davies]

Hi
The banking code of conduct

14. Financial difficulties - how we can help


01/03/2005



14.1 We will consider cases of financial difficulty sympathetically and positively. Our first step will be to try to contact you to discuss the matter.

14.2 If you find yourself in financial difficulties, you should let us know as soon as possible. We will do all we can to help you to overcome your difficulties. With your cooperation, we will develop a plan with you for dealing with your financial difficulties and we will tell you in writing what we have agreed.

14.3 The sooner we discuss your problems, the easier it will be for both of us to find a solution. The more you tell us about your full financial circumstances, the more we may be able to help.

14.4 If you are in difficulties, you can also get help and advice from debt-counselling organisations. We will tell you where you can get free money advice. If you ask us to, we will work with debt-counselling organisations, such as Citizens Advice Bureaux, money advice centres or the Consumer Credit Counselling Service. Their contact details are as follows


Quote this part to any "irate"creditor
"We will consider cases of financial difficulty sympathetically and positively"
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

[iva.com]

Hi Steven,

If you are looking for an IVA firm local to you, take a look at www.IVA.com. We have a list of IVA firms and IPs and a map function that helps you to find those local to you. We also have client reviews of the services provided by IVA firms.

As Melanie says, you will need to be able to meet your IP as you are self-employed.

Good luck with your search and please let us know how you get on.

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

[MelanieGiles]

Hi there

Grant Thornton have a resident IP in their Northampton office, so they could be worth a call.

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