Regulatory Body ??

[joh71262]

I have been disheartened by the handling and overall administration of my IVA by Debtmatters. I have :-

a) been asked for a lump sum of over £200 which, when queried, was informed it was an error - no apology, they had miscalculated !

b) had someone elses wage slips sent to me in error.

c) have found the supervisor in charge takes months to respond to my queries, if at all.

For the amount that I am paying back (I believe, from memory, it was 27p in the £), almost half the total sum is going to the IP for their "services".

I have recently voluntarily increased my payments by £10 a month and then another £10 and yet no one has responded when they were informed.

I feel pretty disgruntled that I am paying them half the repayments and they are what I can only describe as half hearted if I have any queries.

Is there a regulatory body that I can complain to, as the supervisor there has done nothing at all about responding to my queries.

Thanks in advance.
[:D]

[Adam Davies]

Hi
On any letter there should be a reference to their regulatory body,normally the Insolvency Practitioners Association.
As your dividend is around 27p it will be your creditors that are paying the IP fees so I wouldn,t get to upset about the fees issue.
Your case is so similar to others who are with large IVA companies,the service is often very poor.
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

[doaxb468]

The IVA regulators need to be as tough as Ofwat - fined South Water £20m for misaccounting, and the OFT -taking on the banks and issueing fines

<<Plus de degré de solvabilité>>

[mish1953]

Its the lifeboat thing isn't it, your desparate, drowning in debt and you see a lifeboat that can save you .. so you get in. But you just got into a corporate lifeboat that costs you money .

From DebtMatters web site
"You may even pay back less than you actually owe
As your creditors can legally write off up to 75% of your debt, you could end up paying back less, sometimes much less, than you actually owe, which happens with an amazing 95% of the people we help."

Note 'may', 'can', 'could', 'sometimes'..

"No upfront fees to pay
DebtMatters never charge up front fees. We are always happy to work on a 'no win/no fee' basis, which means that if we can't get you the exact deal that you are looking for then you will pay absolutely nothing. "

on the other hand if we can get you the deal then you will pay !

"Furthermore the arrangement that we will put in place for you will be structured in such a way so that the costs of the arrangement are taken from the money paid to your creditors. This means that at no time will you receive a bill from us for any work that we do for you."

Good isn't it.

"What about my property?
Your proposal will contain no requirement upon you to sell or remortgage your property.
If you do own your own home and there is equity in this, you might however want to consider offering to realise some of this equity as part of your offer to the creditors. By doing so you will be able to make your offer to your creditors more attractive. You may even be able to bring your arrangement to an early conclusion. "

Im not putting them down, its all 'business', they provode a service and you pay for it, happens every day and is part of life.

The tricky bit is understanding that there are costs and companies should make it vey clear what the costs are.

When my car gets services my garage offers a fixed price, if they find something else then they phone me and explain and tell me what its going to cost .

Some of these companies seem to have a lot to learn about ethical business practices.

Rant mumble mutter
Mish






Will an automatic discharge hurt.

[joh71262]

I have no issue with paying for the service, but it's so poor, that I would like to complain to SOMEONE about it.

Surely sending someone elses wage slips has GOT to be reportable ? If nothing else, they should get their butts kicked for carelessness and there must be something under the Data Protection Act that would hold up ??

[mish1953]

Joh

agreed, it sounds like they have made a right mess of managing their business.

Im not sure that you would get very far under data protection but have a look at

http://www.insolvency.gov.uk/howtocompl ... inssip.htm

and in particular

http://www.insolvency.gov.uk/guidancele ... plaint.htm

Its the official Govt site and info docuamnet

Cheers
Mish



Will an automatic discharge hurt.

[joh71262]

Thank you Mish - the web site looks very informative.

I'll have a dig about and see what they say.

Have a great weekend.