Changes to Income Payment Agreements

[Dean1]

Dean, I have changed your user name again as you are not allowed to put an email address or post your company in your user name unless your are an expert.

I find this ridicullous and also not true. Having posted previously with a company name, in the context of clarifyng an attempted falsehood threre was no such issue, yet when an opinion is offered that differs, suddenly I am shot down and ostricised. I would like to say more but fear censorship.


Disspaointed... but far from suprised.

So long and thanks for all the fish.

[Dean1]

Excellent post Andy and I totally agree.

I would look to the Money Saving Expert - he's independent and objective, and worth a read.

[Adam Davies]

Hi Dean
You are not allowed to post a link to your company unless you are expert status and no email address unless you have asked myself for permission
Regards

[kallis3]

Sorry Dean, but unless you are an expert you cannot post using company details in your username unless you are an expert.

[Broke of London]

I've seen the administrators take down numerous email addresses and advise posters to contact one another via frugal friends or profiles so it's nothing personal and you're not being ostracised. The forum just needs to protect gullible idiots like me! There's nothing to stop you looking into expert status.

[kallis3]

No companies are allowed to post on here with any details unless they are experts.

We will always remove company details from those who are not experts.

[MelanieGiles]

Regrettably it is believed that still around 30-40% of IVAs proposed and accpeted by creditors fail, but some firms work on far lower statistics, as perhaps they are a little more careful and choosy as to the cases they agree to take on.

The IS decision is no suprise. I have been predicting this on this forum and elsewhere for some time, but at the end of the day examiners will still have ultimate discretion as to the calculation of the disposable income, and my spies tell me that this decision has not altogether been welcomed by the OR staff, then I do wonder if this will actually have any effect at all.

[kallis3]

He may well be a supervisor of IVAs at Kingsgate, but until he has been approved as an expert on the forum he cannot post details and will not be allowed to post email addresses in any case.

This must be run by Andy before any expert status is awarded.

[Adam Davies]

Hi
I did always think that it was strange that payments into bankruptcy were much less, and two years shorter, than into an IVA.
I guess making them similar is a reasonable step although I also think that creditors will see very little of this extra money?
Regards

[Skippy]

I doubt they will see a penny Andy. A while back Ian Millington did a breakdown of where my IPA payments went, based on my payments at the time.

I was paying £186 at that time, and I don't think anything was going to go to the creditors, so to me collecting an IPA of £20 a month would be a complete waste of money and would most likely cost more to implement.

[The Major]

Don't forget IPA orders have only been around since 2004 and need the agreement of the debtor, the 50 to 70 per cent was only ever a guidance, the ultimate decision lies with the court not the IS, even then the debtor can serve notice to the trustee for a variation if circumstances change and the IPO becomes unaffordable.

[Adam Davies]

Hi
I wonder how many debtors know that ? not many I bet.
Regards

[North East Derbyshire CAB]

Hi Liam

I am not aware of any further proposals

On the subject of IVAs or bankruptcy I just want to confirm that this site promotes the best course of action, we are not totally biased towards IVAs. When I speak to people I always state that bankruptcy will nearly always be the quickest and most cost effective option of dealing with their debt. However it is not for everybody, even if they have no assets etc etc
My friends at the NEDCAB see the downside of IVAs, the poorly advised people that have been shoe horned into an IVA and I do respect that they must get fed up with picking up the pieces.
I welcome Majors comments because they are made in a respectable and professional way. Everyone is entitled to their opinion and strong debates are very welcome on this site just as long as they do not get personal etc.
I have been through a successful IVA, but boy was it tough, and Skippy has been through a successful bankruptcy, after a horrible IVA experience, so I think we do bring a balanced view to the forum
Regards

Hi Andy

We have always been allowed to post freely on this forum as an independent voice and hope to continue as and when we can.

This site has allowed us to raise and highlight issues that have been of concern to us with our contributions based on genuine experience.

It is fair to say that there have probably been times where the debate or subject has reached certain levels of intensity if that is the right phrase, but as others have said there is nothing wrong with a healthy strong debate.

We hope people take into account that we are a non-profit organisation and therefore may be seen to come from a different angle at times to other posters on here.

Andy we would like to put it on record that we have always found that overall you always give a fair and balanced view on this site.

On the subject of the proposed changes in IPAs & IPOs we have had a read through information made available however at the time of posting we still are not aware of any official announcement.

Taking the above into account we wish make the following statement.

We find the whole situation quite unbelievable and would have huge concerns if the changes take place on the date mentioned (December 1st 2010).

NEDCAB

[kallis3]

We have no problems with you posting, indeed we welcome it as you are free and impartial, as Andy will agree.

Please keep posting.

[djgriffiths]

Hi

As D day has now been and gone do we know if the Income Payment Agreements /Orders have now changed?

David