www.iva.co.uk

With DebtMatters share price plummeting to 25p and the company confirming that they are undertaking a strategic review including no new cases, what will be the impact on the existing IVAs if the IVA "arm" is sold? Presumably the supervising IP is ultimately responsible and these arrangements cannot be sold or re-arranged?

I would have thought that they would likely see these arrangements through to their conclusion or at worst transfer them to another IP. Either way these existing IVAs should not be affected by this news.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

Hi mb2,

I dont think that the current situation with Debtmatters would affect the IVA's that have been accepted to this point. I believe it is possible that the case can be transferred to a different I.P if needed.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

IVAs can be sold from practitioner to practitioner - it happens all the time when business are sold. The cases would be formally transferred to a new practitioner either by Court Order or the resolution of creditors.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

just seen this topic and gone in to major panic, didnt know anything about this. We are with Debtmatters since March this year. Is there anything we should be concerned about?
If we are sold to another IP can they alter terms and conditions etc.....

Hi Baz
You have nothing to be concerned about,your agreement can,t be changed.
How have you found debtmatters to be post IVA ?
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

Hi my iva was transferred this year I knew nothing about it until i was asked to change dd details.Dont worry ur new ip will have to stick with the original proposal made, and the fees must remain the same too. I actually find my new ip more approachable . this one has given me his direct line and email the last wouldn't even take my calls!!

Hi Andy
not too bad,they are always helpful if i need to contact them,their paper work seems to be a little slow though, but apart from that okay. Just not looking forward to yearly review in March, dont know why really,plus we have our payments increasing by £160 in january (because our variation was rejected) think you replied to my post at the time, wed found out our son wasnt starting school until Sept 08 (we were going to use his nursery fees when they stopped(to pay the extra) so now we have to pay the extra AND still pay for his nursery. We only had 1 creditor vote and they rejected saying we should have thought about this (they were been awkward)Also expentiture has changed slightly: ie i now receive CSA payments for my son, but i now also have to pay CSA for my daughter who lives with her dad, so it all balances out really, will just wait until review, because at the end of the day we still dont have any extra disposable income.

anyway im babbling!

Hi
Yes I remember your post.Crazy that it wasn,t accepted.I think your IP could have done more.
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

As noted above, whilst the IVA itself may be sold as part of a take over package or whatever it is that transpires there, the terms of your IVA will not be affected at all.

I would recommend you share your experiences on http://www.iva.com/. It's anonymous and it is an opportunity for you to help others who are thinking about an IVA, by leaving feedback of your experiences.

Tell it like it is.

We are with DM and find them useless