Hi there,So I've just sent all my paper work to Step Change. I think I need a bit of reassurance

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Kerry.r

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Post by Kerry.r » Sat Oct 18, 2014 12:12 pm
Hi there,

So I've just sent all my paper work to Step Change and they are drafting my IVA proposal.

Read so money forums, so much info out there, I think I need a bit of reassurance!

I think my IVA should be quite straight forward no assets, never taken any PPI, £65k, paying £750pm. Heard a few horror stories but lots of positive ones too with regard to Step Change, worried case could be passed to GT is this likely? Are there any positive GT stories?

Step Change have assured me should my income go down (likely to as child of 15, Child Benefit will stop and maintenance) in the 5 years it's simple to amend payment amount, has anyone had experience of this?

They have said 14-21 days to draft the proposal, then am I right in thinking 28 days after that before the creditors meeting, so realistically likely to be Christmas time for it's all in place?

I thought making the initial decision was tough, But all this waiting is stressful, what if they don't accept? From what I've read unlikely but nobody can be 100% sure.

Just like to add this forum has been a great asset during this process!

Thank in advance!
 
 

Foggy

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Post by Foggy » Sat Oct 18, 2014 1:19 pm
Hello Kerry and welcome. We get no StepChange horror stories on this forum, so I would guess everyone is happy. However, many cases do get shifted over to GT -- and we do get quite a few for them !

I was taken over by GT mid IVA, but I can honestly say they were great with my case, reducing payments when needed, as well as agreeing a payment break when my marriage went south. To be fair, they were a great help.

Their communication is non-existent and I would advise you seek out a friendly person as soon as possible and keep their email address to hand. I kept in constant touch with my "preferred contacts", telling them everything I thought they should need to know whenever it happened and we built up a rapport.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

shrews

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Post by shrews » Sat Oct 18, 2014 1:46 pm
Got to say we are with step change in to are third year now which as been one horrible year with one problem after another got to say they have been brilliant with us even cutting are payments. Good luck Kerry hope everything works out for you.
 
 

Michael Peoples

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Post by Michael Peoples » Sat Oct 18, 2014 2:29 pm
It may be worth getting a second opinion from the independent sector and see if you are getting all your allowances and the correct advice. It costs nothing to ask around but it could save you a lot of time and stress over the next few years.

Stepchange may refer you to GT but regardless if you ever have a problem you may find it difficult if not impossible to speak to the IP. Smaller firms will provide you access to the IP and this can be very important. Ask Stepchange if you can speak to the IP now to discuss the proposal and see what their response is.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Kerry.r

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Post by Kerry.r » Sat Oct 18, 2014 2:39 pm
Thanks both! Makes me feel more confident I have done the right thing.

I have a couple of email addresses of friendly people, but I have dealt with a different person every time I've called. As long as things run smoothly I'm sure this will be fine.

Just a waiting game now.
 
 

Kerry.r

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Post by Kerry.r » Sat Oct 18, 2014 3:04 pm
Thanks Michael, any independents you can recommend? Or is that not allowed?
 
 

Michael Peoples

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Post by Michael Peoples » Sat Oct 18, 2014 4:02 pm
We are not supposed to recommend our own firms but posters who are in IVAs can. By all means give us a call or any of the firms who post here but definitely get a second opinion. Even if you got the payments reduced slightly it would be savings of thousands over the IVA.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

MerlinL14

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Post by MerlinL14 » Sat Oct 18, 2014 7:40 pm
GT really are not a bad company to be with. Slow to close cases and have been poor (at best) in customer contact of late, but there are far worse out there. McCambridge Duffy and Melanie Giles' team are well supported on this forum and have a better than great reputation.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
 
 

baldy

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Post by baldy » Sat Oct 18, 2014 9:00 pm
Hi Kerry.

We are into year 5 with "Step" Kerry.

WE have had to reduce our income a few times ie, Eldest daughter moving out, Losing child benefit, change in mortgage product but they have been pretty fair to be honest.

No I have not actually spoke to the IP, you end up with a case worker, but they have been able to deal with it all.

Budget is paramount for the IVA to work so if you are spending X amount on petrol then make sure you have put that down.I think as long as you know you can live within your budget and have a steady income then it should run ok.

Every time ive phoned them I get through to them pretty easily, and we have had afew hiccups along the way and they have helped us.

Hope that has helped you, good luck.

Baldy
 
 

luluj

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Post by luluj » Sun Oct 19, 2014 6:51 am
You have made the hardest decision ....asking for help. Now that your proposal is being written for creditors use this time to save a little from what would have been your creditor payments and learn how to live life on a budget. It will get easier as the iva starts and over the first few months set yourself some little goals.

Remember we are here on the forum for you anytime and most of us have first hand experience of living on an iva budget ...between us we have a whole host of suggestions on how to budget, get through xmas, ensure you get a little holiday and general day to day good practises.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
 
 

Shining

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Post by Shining » Sun Oct 19, 2014 8:39 am
Hi and welcome from myself too. Why not have a word with Melanie Giles or Michael Peoples, I can recommend Melanie from personal experience. When I was a client of hers you don't got lost in the thousands of other clients they have, it's a more personalised service. GT do get some bad press but if you look at it that you only generally hear the bad press there must be happy customers too.

Personal choice but do make sure you're 100% before proceeding as 5 or 6 years is a long time to be unhappy.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

luna

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Post by luna » Sun Oct 19, 2014 9:05 am
Hi,

We to are with Stepchange and have had no issues with them at all.
Although you won't speak to the IP their team have always been very efficient and for the last couple of reviews have phoned to check we are happy with all the allowances and increased all the cost of living stuff each year as well.
They have changed to a joint income threshold figure now as well so if you are interlocked you keep more of any bonuses etc.
Regards.
IVA completed with StepChange.
Last payment Sept 2016 CC Oct 2016
 
 

Kerry.r

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Post by Kerry.r » Sun Oct 19, 2014 9:09 am
Great advice, thanks everyone its appreciated! Good to know others have been through the same things and come out the other side.

Will keep you updated on progress and no doubt more questions :-)
 
 

wiggle1

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Post by wiggle1 » Sun Oct 19, 2014 9:42 pm
Welcome from me too Kerry. As the others say, make sure you are comfortable with the proposal etc 'cos an iva is a long, hard road but very worthwhile and life changing. Use this forum and lots of luck on your iva journey.
Life after IVA is wonderful.
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