Hi,
Have a look at Melanies web site I'm in the process of starting an IVA and have spoken to one of Melanies team and they gave me some really good advice and made me feel more comfortable about the situation I'm in, she is also very well respected on this site so take a look as well as others.
Hope it all goes well whatever you decide to do.
JB
*Sorry Joe, you cannot post links to IP companies on here.*
Last edited by joeblack on Wed Nov 18, 2009 8:56 pm, edited 1 time in total.
I agree with Size5. If you are suitable for an IVA now why did the CCCS not recommend one for you before? The CCCS use private IPs anyway and charge fees like all firms so the question should be should I stay with the CCCS or go somewhere else?
CCCS do have their own IVA division, so it is strange why an IVA was not offered to you in the first place. How long have you been in the DMP?
You may find it sensible to try a couple of other companies, but also try to speak to the CCCS IP to take her advice and question why this has only just been suggested to you. If your DMP is targeted to last longer than another five years, and IVA does seem as sensible route to go down.
If your circumstances havent changed I would ask cccs why an IVA wasnt thought of to start with and promptly tell them to poke off and go to a few IP's(suggest Mel being one you approach).
Still lots of people starting never ending dmp's when clearly IVA's are more suitable(equally still seems a good few who starts IVA's when BR is the way for them to go).
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
My circumstances have changed slightly so i can offer to pay more money, at present i have been on the DMP for 2 years and on current payment terms it will last another 50 years !!! Im really looking for a low dividend IVA, Debts are around £60000. I was more concerned that IPs look to get the best deal(if this is how it works) for each case or just generally go with the flow regarding the dividend.
An IVA is based upon affordability and you would only be asked to pay what disposable income you have after paying your priority debts.
IP's don't look to get the best deal - if the payments are set to high in the first place it is not going to help anyuone.
I agree that you seek further advice before making a decision and visit the site which Skippy recommends.
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
The best deal that an IP can get is one that is affordable and sustainable for the debtor and acceptable to creditors. Provided the dividend is better than bankruptcy and the debtor is making their best offer there is no reason for an IVA to be rejected. In addition, during an IVA there is scope for the dividend to be enhanced with overtime, bonuses, annual reviews and equity releases so there is an added incentive for creditors to accept.
Mine would have been bad enough at 20 years, so 50 is unthinkable!
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
Thanks for the advice, IVA its gonna have to be i think. My main concern going through my IE with the CCCS last week they were stating a figure i had to find each month or i would no get one. This figure i could not match, thats why i mentioned the best deal etc. I will continue my research and keep you all posted. Thanks again.
The CCCS make up the guidelines so it may be better to go to a different IP firm. It is certainly worth shopping around because an IVA is a big commitment and you do want to be forced into something that you cannot afford.
Absolutely terrible advice, all the more scandalous that it comes from the creditors preferred debt advice provider!!
IVA's categorically should not be set at a figure that is needed to "get it through".
I would certainly take Michaels advice and have a look at someone who will not fudge the figures for the benefit of your creditors and the detriment of you. Visit www.iva.com and go from there.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
