Nick Blake, Integrity Financial Services

[ordinary_world]

Hi,
Has anyone else had one or more flyers from the above firm?
This relates to thread (http://iva.co.uk/forum/topic.asp?TOPIC_ID=8218) which discusses the use of the insolvency register to gain business.

In the flyer we received, Nick Blake from Integrity Financial Services asks people in an IVA to reconsider their arrangement and even think about withdrawing from the IVA and to go with one of their solutions which may be better. They mention there are 7 possible solutions for people in IVAs to consider. Their websites are:
http://www.iva-advice.me.uk/
http://www.integrity-debt-solutions.co.uk/

(note that these point to the same site and are littered with spelling errors!)

I find this all very suspicious and think the insolvency register is potentially being used to mislead vulnerable people like ourselves to earn a quick buck.

So, has anybody had any dealings with them or know what they are legitimately offering people in our situation?


OW

- 'I wont cry for yesterday 'cause there's an ordinary world somehow I have to find...'

[Adam Davies]

Hi
They will offer a remortgage service for a full and final settlement or they will offer to help you go bankrupt,all at a cost
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[MelanieGiles]

I am fed up of reading these stupid websites which purport to be giving good advice. What they really are advocating is an insult to human intelligence and the exercise of choice. To say categorically that non-asset based individual insolvencies should all be bankruptcies cases is absolute mis-selling in my professional opinion.

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

[ordinary_world]

Well guess what's come through my letter box this morning....

A flyer from Mr John Tegg of DMS Security Plans offering to provide IVA Insurance to protect my IVA. The flyer directs you to their website www.protectiva.co.uk for a quotation.

Mr Tegg also advertises www.iva.co.uk/forum/ in a very positive way and states that he is a member called Coveritall. So has Admin and the IPs on this forum provided support in producing these flyers? Mr Tegg also openly admits to using the Insolvency register to obtain my details.

So, has anybody taken up Mr Tegg's insurance? If so, how much extra does it cost (the debtor, creditor or supervisor) and is it really worth having?



OW

- 'I wont cry for yesterday 'cause there's an ordinary world somehow I have to find...'

[Adam Davies]

Hi
Iva.co.uk have no links with John other than the fact that he is a valued forum member and expert
I personally feel that an insurance aimed specifically at IVAs is a move in the right direction and wish John well with it.
I am not in favour of the insolvency register,but at least John is open about using it to gather information for his mail out.
I am planning an interview with John and his wife/business partner Gwen for IVA TV next month.
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[emma_t]

I got the same letter from John this morning and I really believe in waht he s trying to do, I know insurance schemes get a bad press but a good policy will protect you and give you peace of mind. 5 years is a long time and cirrcumstnces can change an awful lot in that time.

If creditors would allow the payments in income and expenditure I would have gone for it for peace of mind. I still might in the future as I have looked at the payments and they are very reasonable for the cover provided.

Also John kindly paid my subscription for my Bread card for filling out a very short survey, and that is much appreciated (thanks again)

Emma x

[MelanieGiles]

I agree that this insurance is a good method of covering your future IVA payments, and acts in the best interests of debtor, creditor and IP - but you do have to be able to fit the payments into your budget - for example by funding them from your miscellaneous expenditure. So long as your IVA payments are not affected, I think that most IPs would encourage their clients to investigate the benefits of these policies further.

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

[ordinary_world]

So the fee is not taken from the dividend or IP fees? Shame.

Are there any other IVA insurance firms around so that I can compare his rates and make an informed choice?



OW

- 'I wont cry for yesterday 'cause there's an ordinary world somehow I have to find...'

[MelanieGiles]

Why would the fee be taken from the IP fees? Surely you are not suggesting that the IP funds the insurance premiums?

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

[ordinary_world]

No not at all. Apologies Melanie, I was just being facetious - hence the smiley face at the end of the remark.

I do think, however, that insurance fees of this type should be considered a valid expenditure by creditors and thus be factored in (rather than the debtor taking it out of their shopping budget etc).

This is the first IVA insurance product I've seen and was wondering whether there are more about so that comparisons could be made. Call me cynical though...I can see where this is all heading.....like taking out a loan..'would you like payment protection insurance sir?'. Hopefully the same problems and overselling of PPI wont be applicable for IVAs.




OW

- 'I wont cry for yesterday 'cause there's an ordinary world somehow I have to find...'

[MelanieGiles]

I forgot your dry sense of humour OW!!!

I think it would be good if creditors would consider allowing these premiums within expenditure allowances, and the proof of the pudding for me will be when claims are put to the test.

I am assured by John Tegg of ProtectIVA that there are no legal loopholes for the underwriters to wriggle out of, but at the end of the day it is a personal choice and creditors do need to come on board if this cover is to be accepted from day 1 of an IVA.

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