If anything is one sided it is the response from the locals on this forum to a well done program, and to describe debtors as "no hopers" is an insult to anyone faced with the misery of being in debt because they did not understand a five year contact in an IVA, and then come out with the comment that creditors pay the fees, I would certainly Broke of London read that contract again, I dont think you understand yours, because your creditors are certainly not paying the fees.
I do agree that BOL has not thought this through - some of us know what we were doing, some are so worried that they will sign up to anything.
The electrician was unreasonable but I do think we need to know the full circumstances.
We are lucky in that we found this forum - the vast majority of people have never heard of us, and they should never be called 'no hopers'.
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
I do agree as well that we are paying the fees - not the creditors!
However, we should have seen things from both sides.
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
Hi
Just caught up with this thread, seems to be getting a little out of hand.
I am sure BOL would agree that their choice of words could have been better, however in my opinion BOL are a welcomed poster on this forum and shouldn't be judged on one post.
I have not seen the programme but the title suggests that it focused on the negative part of IVAs.
I think we all agree that fees have, in the past, been an issue but not now and yes many people have been "sold an IVA" when another option would have been better
Question for the The Major, do you agree that in the right circumstances an IVA is an excellent solution for both the debtor and the creditor ?
Regards
Fees are agreed by creditors, even in the days of time cost fees. The issue with fees only arises when an IVA fails, or a windfall is introduced. Other than that anyone with a successful IVA would be hard pressed to question the IP fees
Regards
Under the right circumstances I totally agree that an IVA is an excellent debt solution when someone has a business or an occupation which can fund the IVA through to conclusion this is a win win situation for creditor and debtor whereas the bankruptcy solution would shut that business down losing the livelyhood of the debtor and the creditor having to write off the whole debt. I have and still propose IVAs under these circumstances,but they are rare I guess I dont see that type of client often perhaps others do, what annoys me is that very often debtors have been told, and are still told "You have to do an IVA because the Judge wont let you go bankrupt" Or "You have to do an IVA because you will definitley lose your home" and the firms which have a motorcycle courier very nearby who can collect the signed documents before debtors realise what they are doing, and the IVA companies who pester the living daylights out of debtors to go forward with them once they have their details, thats where I have a problem.
You are a great contributor to this forum dont worry about a bit of stick I get it alot, it makes the forum great you have my utmost respect because you speak your mind there is nothing wrong in that
Hi folks
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Hi
I do agree on your points above and guess they relate mostly to the larger providers.
"You have to do an IVA because a judge won't let you go bankrupt" is plain barmy and any company representative stating this should be ashamed of themselves.
The strange thing is that when I first started posting the forum I was very anti IPs and my own particular IVA company, purely because I didn't really understand the ins and outs of IVAs, as the years have gone on and I have met and worked with more and more IPs I realise that they do an excellent job under much regulation. I guess business plans and/or share prices have dictated growth over customer care. However much of the problems that we hear about are down to poor knowledge on the debtors part and very poor communication on the IVA providers part.
Regards
