www.iva.co.uk

Hi All

We are in the process of setting up our IVA with Payplan and have aranged our R3 interview, does anyone have knowledge of what to expect at the interview. It will be over the phone but am just apprehensive at what to expect.


Thanks

[B)]

Hi,
I have not heard of an R3 interview but our IP meeting was over the phone and it was basically just to fully explain all our available options (IVA/BR/DMP)and they made sure we were fully aware of the proceedure etc etc. Although we are not with Payplan I expect they are all basically the same.

As Sblack rightly says the R3 interview will cover the details of the IVA and what to expect during the process and also the information on the other options available!

Please let us know what is actually discussed with you during the meeting, so that the other IPs on the site can compare to their own practices and other forum members can share from the experience.

My 'R3' interview was with a charmng woman from CCCS who basically spent 40 minutes going through all the stuff I had already completed on line and then confirmed I'd be suitable for an IVA she then arranged to pass the details on to my IP.

What she failed to mention and of course I failed to ask as I was a wee bit stressed at the the time was that I would be charge £800 from my first IVA payment for the phone call.

Never mind you get nowt for nowt.

!!!!![V][V][V][V]

And this is a charity? Boy, I must revisit my no win no fee policy!

Out of interest, did she talk you through all the options?

There should have followed another meeting when your case had been finalised, or after the documentation had been received, to ensure that you were happy with the content and still wished to proceed.

And do you mean that you were charged £800 for one phone call?

One phone call and I got a litle booklet to read and sign a tear off section at the back.

I also supplied most of the text for the proposal which was cut and pasted into the document. You never know maybe I saved myself from a 4th year equity release.

But I am not complaining I was so stressed at the time and she did make me fel beter so maybe she was worth the money.

It makes me laugh when I hear this organisation referred to as a "charity" - and I also heard that the BBC interviewed a member of their staff yesterday who advised anyone thinking of doing an IVA not to approach an insolvency practitioner but to contact them instead!!

It's dead easy to to become a non-profit making company Melanie, as anyone who read the Mail on Sunday on 30 December 2007 will know[:D]

So far as I'm concerned, how can anyone heed the advice of any organisation which, until it got its own in-house IP, was perfectly happy to recommend 20 year DMPs to all and sundry on the pretence they were "free"? Could it perchance be that that was because it was the only service from which they made any money at the time, or is it uncharitable for me to say so?

Perhaps now they are in the insolvency arena they could in their advertising blurb state the insolvency experience of those working within it, to demonstrate their ability to handle the several thousand IVAs they anticipate in 2008.

Ian

This was some time ago now. I think they offer their own IVA's now. Bet it's in partnership with GT.

I suppose they have to pay for the flashy website somehow.

Reading through the various predictions of melt down in the finacial market I imagine they're going to need to take on extra staff. ne of the few job growth areas.

I think all IPs are going to see un upsurge in the number of very high levels of debt IVAs.

More people who relied on cheap easy to find mortgages to finance high levels of debt are seeing it dry up. And buy to let mortgages are getting more difficult to get reasonable rates on so people will be trying to off load property in a dropping market. I think that a lot of people who considered themselves well off will find it was through easy credit and when there ain't none around the reality of there situation will hit home.

I have friends who with mortgages, second home mortgages. credit card debts, cars, schools fees and loan debts are looking at managing a debt pot of coming close to a milion pounds. It will be interesting to see how they weather the storm.

Interesting time ahead for IPs I think.

I don't think that GT are involved any more on the IVA side with them - they have their own IP, who funnily enough is ex-GT!

We are indeed in for interesting times over the next few months, and most firms are actively seeking reinforcements in readiness for an increased workload.

Ian - I could not agree with you more. This company refuse to comment publicly about their "charitable status" and have the neck to directly market a fee paying product - which is not part of their "charity" business to the extent that they publicly state on a national news network that clients in financial difficulty should not contact IP's but only go to themselves, the CAB or the national debtline.

How unprofessional is that!

Very, given that IPs are the only ones to have ever sat examinations on the subject!

I am appalled at even the notion that anyone let alone a company that is covenanting any profits back to the charity could charge this. I rang someone in the know at CCCSVA yesterday who told me that you must have mis understood things. Call them back and clarify !!

'What she failed to mention and of course I failed to ask as I was a wee bit stressed at the the time was that I would be charge £800 from my first IVA payment for the phone call'.

Mel & Ian, they do still have links with GT apparantly ?

I'm very comfortable with my IVA and do not want to rock any boats so to speak.

But I re-read my paperwork this morning as it was some time ago but it does state clearly in the nominees report lodged at my local County Court

The sum of £800 has been paid to CCCS in respect of costs incurred in the preparation of the debtor's statement of affairs.

Whilst I am happy for this to be used a caution to other I will not be persuing the matter further.