Being hassled to increase payments, now received call saying I can reduce my debts by 70%.

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Chris.l

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Post by Chris.l » Thu Aug 20, 2015 10:54 am
I am currently in an iva and have been for 2 years.they often ring me to persuade me to increase payments..which paying £221 a month is already enough. Also I received a call from a government agency saying I can reduce my debt by 70% can they take this on instead of the iva company or do I have to stick with it.
 
 

kallis3

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Post by kallis3 » Thu Aug 20, 2015 10:58 am
Hi and welcome.

If you can manage to keep up with your paynments then let the IVA continue but ask to do another I&E.

Do not give in to these cold callers. They don't know your circumstances and you may well end up being worse off.
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
 
 

lifenoteasy

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Post by lifenoteasy » Thu Aug 20, 2015 11:00 am
NO government agency will ever ring stating that and you should run a mile.

If the people you are with are ringing you about increasing payments and you have not had an income and expenditure review/your name is not on the Insolvency Register then you are probably in a debt management plan.

See the CAB or ring around a number of local IVA providers for advice.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
 
 

kallis3

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Post by kallis3 » Thu Aug 20, 2015 11:05 am
Which company are you with Chris?
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
 
 

Michael Peoples

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Post by Michael Peoples » Thu Aug 20, 2015 11:13 am
Are you sure you are in an IVA? IPs do not ring up regularly asking for increased payments as there is a formal procedure to follow unlike debt management. It is possible that this new company has found details of your debt management plan and is offering an IVA so perhaps it is worth checking the IVA register to see if you are on it.
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
 
 

Foggy

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Post by Foggy » Thu Aug 20, 2015 11:25 am
I agree -- it doesn't sound like an IVA you are in. Check the Insolvency Register here:

https://www.gov.uk/search-bankruptcy-in ... y-register

If you are not in an IVA and think this might be the way to go I would suggest a chat with a couple of reputable firms (one such has posted above) to discuss options.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Chris.l

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Post by Chris.l » Thu Aug 20, 2015 11:55 am
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Michael Peoples

Are you sure you are in an IVA? IPs do not ring up regularly asking for increased payments as there is a formal procedure to follow unlike debt management. It is possible that this new company has found details of your debt management plan and is offering an IVA so perhaps it is worth checking the IVA register to see if you are on it.
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