IVA Watchdog

[Justice]

I cannot understand how you people can judge a company you know nothing about. I think it is quite obvious that if you do not need any help from the IVA Watchdog or any other companies in the same line of business that you would just ignore the letter or even look into how these companies can help you before making judgements.
I was originally in an IVA and I was struggling with my monthly payments. IVA's are decribed to be flexible yet when I spoke to my IVA company asking for help to lower my monthly payments I was turned down, being a single parent with 2 children I'm sure you can all comprehend with how difficult my financial situation was at the time. With the recession kicking into place I could not afford my monthly payments and my IVA company did not help me in any shape or form. Luckily for me IVA Watchdog have helped get me out of this situation.
I'm sorry to dis-agree with your posts but I cannot understand why anyone would pay in the amount of £7000 like me to stay within an IVA for 5 years to keep hold of assets I never had to then have to spend a further 5 years rebuilding my credit file, when I am insolvent which i have come to terms with I don't have any assets, i had nothing to protect and instead of going bankrupt straight away I was advised to go into an IVA plan that didn't suit my circumstances at all! I have now gone bankrupt and it was the best decision I ever made. Not everyone's circumstances are the same. It could well be that you guys are suited to stay within an IVA which is great but for people like me I do not think it is fair to be mis-advised and charged ridiculous amounts of money that I could have given to my creditors in the first place.

[kallis3]

I personally object to someone finding out my details from the Insolvency Register and sending me a letter telling me I may have been missold an IVA.

These firms are only out to make money for themselves and unfortunately some vulnerable people out there will end up thousands out of pocket when they could have found a better solution elsewhere.

If it worked for you, fine, but I doubt many posters on here will be interested in them.

[Skippy]

I agree with Jan. I'm not in an IVA, but if I was I would object to people sending me misleading letters telling me I shouldn't be in an IVA.

Also, anyone who pays these companies to 'help' them go BR has more money than sense. If BR is the right way forward for you it costs £510 to do it yourself, rather than paying money to a company who's only interest is increasing their bank balance.

[size5]

Justice,

You make some pertinent points, and I sincerely hope that you are where you want to be in regards to your debts.

I would respectfully ask you to clarify 1 or 2 points however, as your post is very aggressive, or at least seems to be.

"I cannot understand how you people can judge a company you know nothing about."

Do you really think that the people on this forum have not dealt with the likes of firms you describe, in whatever name they choose to call themselves?

You make great play of how you were advised to go into an IVA. When you read your R3 booklet, which clearly explains your options, IVA, BR etc, why on earth did you then send that back to whoever your provider was indicating that you were happy to go forward?

You post of £7000 fees, but not of how long, if at all, you were with your IVA provider. Did you pay £7000 fees?

"Luckily for me IVA Watchdog have helped get me out of this situation"

Will you be happy to post on here how much this firm have charged you for the privilege of doing something that you can do yourself for, er, nothing?

Can you also post as to what "ridiculous amounts of money that I could have given to my creditors in the first place" that you were expected to pay for the IVA that you claim to be mis-advised to enter in to in the first place?

Lastly, will you also post as to whether your IVA provider asked for upfront fees or not, and whether IVA Watchdog took fees from you or not?

Regards.

[Shining]

They did reply to me with an apology and an assurance they wouldn't contact me again but after I had told them I had cc'd my IP and I was on the MPS so they were actually doing wrong.

[kallis3]

Excellent post Size5!

They never apologised to me - but then I let them have it both barrels so I don't suppose they would have been very amused!

[chardonnay]

I agree, brilliant post Size 5.
If anyone is in an IVA that they are struggling with they need to make a personal decision as to what the best solution for them is. I have just done this and made the decision to go BR. As you rightly say, it is a personal decision and you can do it alone - no outside company needed.

[ivas4us]

great post size5

[wonder]

Why don't people just ignore them? Or do they keep pestering? How long after you start your IVA do they contact you? We are struggling to pay our IVA but as you say we have a choice. Hope no one contacts me about IVA or other options.

[kallis3]

They keep pestering wonder.

You will probably get letters from them, and other companies who trawl the Insolvency Register.

For every person who knows to ignore them, there will be a couple who will think they can be sorted and will pay money across.

If you get any of these, just bin them!

[ivas4us]

or send them on to David Mond.

[wonder]

I haven't got any money to pay them. Yes I will ignore them, If I want to go bankrupt I will sort it myself not pay someone to do it for me. [:0]

[Skippy]

Exactly Wonder! There's no point in paying a company a small fortune to do something you can do for £510.

[wonder]

Hope I dont get any letters. Just want to be left alone to get on with it now. At least phone calls have stopped. I can bin letters.

[kallis3]

The chances are that you will get them. I think we have had about half a dozen so far.

They really don't bother me as it is their money they are wasting on postage, and apart from writing to IVA watchdog to tell them what I thought of them, I've just binned them.