I have just had a visit this week from a rep. from Creditfix who are 'tied up' with XS Remarketing Ltd. They requested a payment of �200 Express Service and have taken details of my bank Debit Card. I was wondering is this normal practice? I realise there are costs involved in setting up an IVA. Any comments would be gratefully received. Thank you.
Hi and welcome to the forum. Some iva firms seek a small payment upfront of the iva being set up to show a level of commitment..whilst others don't.
I would personally try and understand what the £200 is for and if unsure seek further advice asking creditfix to holdfire at this stage.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Personally I would never use a firm that took upfront fees in this way. Especially when there are so many firms out there that do not charge in this way.
By all means take the first iva payment as fees but for someone who is struggling, often robbing Peter to pay Paul, I find the notion of taking a £200 fee straight away quite concerning and perhaps showing lack of compassion to the situation. Just my opinion.
Last edited by Til on Fri Nov 21, 2014 7:06 am, edited 1 time in total.
"Hope is the feeling you have that the feeling you have isn't permanent." - Jean Kerr
IVA approved Aug 2008 - 6 year term - last payment made 6 Oct 2014. CC received 14 Nov 2014.
Hi Roger. I would run a mile from a firm requesting fees up front. Most reputable firms work on a "no acceptance, no fee" basis and, whilst this is risky from their point of view, it demonstrates their confidence in success as they put a lot of work into the preparation of an IVA and have as much riding on the outcome as you do.
I am speaking on the assumption that the visitor was, in fact, employed by CreditFix. He could be from an introducer firm and these sometimes do collect a fee for their service up front. Many wait until the IVA is accepted and get the fee via the IP.
Last edited by Foggy on Fri Nov 21, 2014 7:46 am, edited 1 time in total.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I'm with Foggy on this, there is no need to pay upfront fees for anything connected with an IVA. Some do ask for one payment upfront at a later stage stating clearly that if for any reason the meeting is unsuccessful then the money will be returned to you. If successful you're one payment in and happy days.
Not convinced about people coming to the house either as when I set up our IVA one came to our house and was fairly pressurised in the way he sold it, but I stood my ground as I knew I didn't get in debt overnight so wasn't going to solve it overnight either so sent him on his way and did some more research.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
This Creditfix firm is starting to sound worse and worse and I am starting to seriously disbelieve the "wait and give them a chance" rhetoric on here as opinions start to change... nicely demonstrated above
In line with what someone wrote on another thread I also read the elderly thread about a certain person advising potential iva'ers to avoid companies Creditfix a while back too.
What a situation, me and Mr Ivamess did very careful research before going with this iva. What a waste of time, might as well just have stuck a pin in a list and gone with the iva firm it landed on. I guess the only positive is that at least the iva was initially set up with decent allowances.
Fed up and sick of the whole thing and cannot believe that we have gone from such an excellent company to such an awful one.
Hoping that the negative comments on this forum, which seem to be becoming more frequent with time, manage to at least put other people off this company.
The poster should seriously reconsider giving his bank details and paying over money for something that is not guaranteed.
There are costs in setting up an IVA but any decent firm will absorb these costs and recoup them when the IVA is approved. If the IVA is rejected there should be no fees or costs to the client. Taking fees upfront without even knowing if an IVA is going to be accepted is not something we do in this firm.
Roger, I have just investigated the 'Creditfix' website. Within their text it does mention that all fees within an IVA, including setting up, will be absorbed by the payments you have made AFTER the IVA is set up. Have you been on their site?
Completed IVA - August 2012 pheeeeeeeeeew
Only my opinion - Nothing More Nothing Less
