www.iva.co.uk

As crazy and ridiculous as this may sound. I just found out that Northern Rock has used a post from this forum and particular Melanie Giles in its defense of the case recently brought against them for not treating customers fairly. See http://observer.guardian.co.uk/cash/sto ... 47,00.html

In their answer to the court Northern Rock said:

---

9. Despite the irrelevance of the evidence submitted, purely as a clarification for the courts benefit, it is not the case that the Claimant rejects IVA proposals capriciously. At BA1 I exhibit a copy of an extract from online IVA forum, iva.co.uk, dated 18 September. I refer the court to the comments of IP Melanie Giles, to evidence this which are self explanatory.

---

So how does everyone feel having Northern Rock take Melanie's post, actually on 14 September, and use it as evidence to say they don't reject IVAs unfairly or treat customers unfairly?

Steve

cheeky wotsits

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Specialising in adverse credit.

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i think its lame to be honest....to take 1 persons comment to justify themselfs is pathetic.

I think Melanie is eductaed enough in her field to make the comment and if they dont like then maybe they should ask themselves why it was said in the first place.



Angie xx


My IVA Story......http://bagpuss.blogs.iva.co.uk/2007/09/ ... iva-story/

Can they do that??? Use a professionals work intended to help debtors (and return to creditors) without permission? Well straws and grasping comes to mind. Just hope Melanie is OK with it, I dont think I would be.

lily

Hi
Thanks for the info Steve
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

I bet that they won't include any of my posts !!!

Hi
I was discussing your posts today in the office,funnily enough.
At least we know that they do read the forum,I wonder how many other creditors,or representatives do ?
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

Well - I'be been in Belfast all day and have just arrived home to read this. Many thanks to Steve for bringing this to my attention. I shall follow the outcome of the proceedings with great interest.

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

They'll be calling you as an expert witness next Melanie.

Personally, I would be very surprised if the Liverpool 2 win their case against Northern Rock.Although their attitude to IVA's is disgraceful I can't see a judge refusing to give judgement simply because NR exercised their legal right to vote how they wished under the Insolvency Act.

Whether they adhered to the banking code is a question for the ombudsman, not a judge, in my humble opinion.

I hope that I'm wrong.

I agree, - but if it makes the bank rethink their policy towards IVAs, it may have some value for their remaining customers who are presently in financial difficulties. I am sure you, like me, are still turning worthy causes away to the bankruptcy courts.

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

Very much so and I note that NR are continuing to vote negatively, even as a minority creditor.

Hi
Maybe we will see a change of voting once,and if,its taken over or sold off ?
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

They often state that they believe the majority of debtors wwho put forward an IVA dont need one instead they need to reorganise their finances. Have they ever given anyone any feedback, any examples??
Or is this just their way of saying no thanks but a charging order is on its way.
I just feel their lack of feedback is very frustrating.

Pippa

Pippa

Their own statistics apparently state that 90% of the customers they reject for IVA's enter into ongoing payment plans with them, rather than declare themselves bankrupt. If this is correct, and I rather suspect that more recent figures will show a higher percentage of bankruptcies, then it is a little difficult to argue that this is not a better return for them - obviously at the ongoing expense of the debtor.

They also do use the charging order system to secure their position, but that is of course available to all creditors - and I am seeing many more of them from a variety of lenders at the moment.

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

Melenie

I have to agree with you about the increase in charging orders. We are starting to see a lot of additional charges being added for originally unsecured borrowing.

A worrying trend is that, a growing number of late seem to be added even though, it puts the borrower into negative equity.

On the NR front, I wondered why they had not replied to my original questions yet, now I know – they read this forum. So, if my BDM is reading this, please get in contact…


FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf