Received an interesting letter today

[Sensible77]

Received a letter this morning from a local “financial” company. I assume they got my details from the Insolvency Register. The letter was headed “Are You Struggling To Meet Your IVA Payments?” Very strange seeing as I’ve only just started my IVA. It then goes on to say that many people have been
mis-sold IVA’s when bankruptcy would have been a better option. They have attached a few print outs from the BBC website and Scotsman.com about mis-sold IVA’s to support their case. However, I think that they are just a bad as the organisations they claim to help you to get away from.

On looking at their website it says that for a sum of “from” £375 plus court and receiver fees, it doesn’t say if their fee includes VAT or not, they can supply and complete the bankruptcy documentation, make the court appointment and attend court with you on a no win no fee basis, whatever that means.

This made me smile as I know that you can do this by yourself and you only have to pay the court and receiver fees which I think amount to £485.

So basically, they are saying, “been ripped off by an IVA company? Get ripped off by us as well!”

To top it all, this company also has an accident compensation department; their letter contained glaring typing errors and addressed me by my first name as if they know me. Not very confidence inspiring.

[hara]

Why does any one need help in br,as I understand from the forum it is a simple process.

No winno fee,HA ha ha ha .
hara.

[Sensible77]

Exactly, hara. They are just preying on vulnerable people when they really need support and clear, unbiased information.

[Sensible77]

Which you can get from this website, of course!

[lily]

I think they are preying on the fear debt brings, I was terrified when I first came here, I believed all the threats from the creditors and needed someone to talk to. I did find my strength again by posting my fears here and realised, like many, I was not alone and could channel my energy into a solution. I can imagine that anyone without the internet and access to sites like this, going through a poor IVA co and then having to face BR, they do get buisness. Its a shame though cos people just dont know they are being ripped off, twice in some cases as you say.


lily

[Sensible77]

Hi, lily. Thanks for your post. I read your recent thread and hope that you're feeling better about things now. As you say, it can be a minefield, and unscrupulous companies don't help. Having said that, as you know, even the reputable ones lie and bend the truth disgracefully.

[MelanieGiles]

Yet another firm out to make money from the very unfair adverse publicity IVAs are continuing to receive. As I always say they are suitable for some, and not suitable for others. A reputable IP would not suggest an IVA to a client, if they felt that it was not appropriate.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Adam Davies]

Hi
I agree,there is no place for companies like this.
I had a mail shot this week congratulating me on completing my IVA and offering their remortgage services.One other service that they were offering was an application form for the cashplus pre paid card,just the application form remember at a fee of £10.We all know that you can apply online for nothing...............shouldn,t be allowed should it ??

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

[MelanieGiles]

Andy - the one thing in my book which should not be allowed is the publicity on the internet of the IVA register. This has only happened over the last year or so, and I do not agree with it at all.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[jane.l]

I had a letter last week, from a company saying they could help me avoid bankruptcy but lending me tons of money to pay off all our creditors!!!!! How on earth do they think I could pay them when we cannot pay the creditors!!!!!!!!!???? And I wonder how they got my details?????

[Adam Davies]

Freedom of information gone too far I think !!I,m sure more people would go bankrupt rather than an IVA if bankruptcy was not advertised in the local paper.
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

[mikebdomain]

I had a letter last week, from a company saying they could help me avoid bankruptcy but lending me tons of money to pay off all our creditors!!!!! How on earth do they think I could pay them when we cannot pay the creditors!!!!!!!!!???? And I wonder how they got my details?????

Your details, once you enter into an IVA or Bankruptcy, are public information and readily available on the register information such as;

Surname, Forname(s), Title, Occupation, Date of Birth, Last Known Address is there for all to see - a marketers dream - I agree with MelanieGiles this practice should be stopped - Data Protection Act over Freedom of Information, surely...

FREE ADVICE IS THE BEST ADVICE

Mortgage Broker
Specialising in adverse credit.