Let's hope that it doesn't affect too many new clients.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
My thoughts are that it will simply make BR much more attractive to many and the creditors, including Link Financial will be the losers.
Many in an IVA would actually be better off going BR, those with no assets, no career concerns and it is those who were trying to repay the debt as best they could. They might well now, take the "stuff it" attitude and go BR anyway !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
need to smile today? go on check out my blogs - I'll add to them regularly
Our IVA's over YIPPEE unbelievable!Seems like yesterday it was approved despite everything
Wasnt this the company that went to court with MBNA - earlier in the year for harrassement /silent calls to a debtor - the debt was written off by the court due to harrassment.
I've had another read of your link and I see what you mean WiseOwl. I still just hope that the debt resolution forum or the Government can come up with something to attempt to either stop or clamp down on their tactics although I can see this may be unlikely, depends on the legal position so hopefully their own legal team will tell them NO. Best wishes
Oscar
Last edited by oscar on Fri Oct 28, 2011 4:48 pm, edited 1 time in total.
need to smile today? go on check out my blogs - I'll add to them regularly
Our IVA's over YIPPEE unbelievable!Seems like yesterday it was approved despite everything
Foggy wrote:
My thoughts are that it will simply make BR much more attractive to many and the creditors, including Link Financial will be the losers.
Many in an IVA would actually be better off going BR, those with no assets, no career concerns and it is those who were trying to repay the debt as best they could. They might well now, take the "stuff it" attitude and go BR anyway !
Totally agree, only reason I took the IVA route was to keep it private, from others and my employer. This resulted in me having to compromise and pay 5 years instead of 3 as with a IPO.
Creditors as a result were much better off with me in a IVA with no property and no assets. They would have had very little from me if I had gone BR, and if this sort of thing had happened 5 years ago I would have seriously considered an alternative to the IVA and BR may well have been that option even if it meant losing my job and if that had happened they would have got nothing. [:p]
Last edited by TheMatrix on Fri Oct 28, 2011 6:46 pm, edited 1 time in total.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
What an interesting article, especially the proposal for nominee fees fixed at £750, I guess that means no more anomynous texts to my phone telling me that Government legislation can allow me to write off debt I cannot pay, the cost of the text would make it prohibitive cost wise to the provider. At least bankruptcy requires no approval of companies like Link Financial,
Daniel - you know exactly how the insolvency service works so please don't patronise the rest of us on here.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
And as we all know BR is not the right solution for everyone. I'm sure anyone in danger of losing their home won't appreciate gloating comments about how BR is better.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Daniel Griffiths wrote:
At least bankruptcy requires no approval of companies like Link Financial,
And no need for the middleman to take a cut by helping you to declare BR because you can do it all yourself too for a fraction of the cost if that's right for you.
Best to get all the options by speaking to a professional licensed Insolvency Practitioner about your options.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
