Is there a friend out there

[shoestring]

After viewing this site many many times thought I would take the plunge and join in. We were paying our debts via a DMP and were advised that due to the loss of our business and then our home we were advised by them to declare ourselves bankrupt, they made it sound so simple I thought that was the way we should go, however, having looked into it I am now not sure. I am so confused on what to do and to make matters worse, on there advise we stopped paying the DMP, we now have creditors hounding us,letters, doorstep collectors, they even ring me at work and have divulged information to my work colleges, yes I know they are not supposed to but they have. You hear many scary stories about IVA's and because I am panicking, I am really frightened I will make the wrong decision. Any help and a friendly voice would be so much appreciated at this very grim time. Thanks

[kallis3]

Hi Shoestring and welcome to the forum.

Don't worry - we have all been in the same boat so know exactly what you are going through.

I'm surprised that you have been told to stop paying your DMP when you have no plans in place for another solution at the moment - creditors will hound you by phone and letter and sometimes personal visits.

Which company is it that has been ringing you at work? They should not divulge any information at all to anyone and you should make a complaint about this.

You need to speak to an expert as soon as possible. The ones who post on here come highly recommended or you can visit www.iva.com for a list of companies and reviews. Give one or two a ring and you will receive free and impartial advice.

An IVA is nothing to be scared of and you have found the forum where the advice and support are second to none. Any doubts or worries you can post on here and a good IVA company will support you all the way.

[shoestring]

Thanks for the quick response, that really means a lot. The company that keep ringing me at work were Mercers, they said that they were acting on behalf of Barclaycard. I have been in touch with a company called Debtfocus in wigan and am due to see them today but I can't find any information about them and don't know if they are a reputable company?

[kallis3]

Mercers are the debt collecting arm of Barclaycard and they are notorious. They were my worst nightmare. They should not disclose details to anyone else though so I would make a complaint.

I've not heard of Debtfocus at all so can't comment on them.

I do urge you to phone either one of our experts or the companies on iva.com who do come highly recommended.

[kallis3]

Having just had a quick look, they do have their own IP's and seem to be a reasonable firm.

You can see what they say - just make sure that you are happy with what them.

[Broke of London]

Hi - I remember well what a daunting time it is! The thought of an iva is far worse than the reality and I have heard the same is true of BR. Whoever you speak to today should set out all your options for you to chose what will be best for your family. Take advice from two or three if you don't feel totally confident with the first one. This is a great day as the relief later on will be immense!!

[kallis3]

Make sure you are totally happy with your choice - five or six years is a long time to be with someone if you have problems.

The forum is always here to help with advice and support.

[Tina Shortland]

Hi shoestring - welcome to the forum. Hope your meeting with Debtfocus goes well. As the others have said it is advisable to speak to or 3 companies to compare what you are being told and to ensure you have the best representation going forward.

Of course if you have come away from your meeting comfortable and well informed of your options and what to expect then you should be ok. The most important part is making sure your budget is set right as no matter what solution you end up doing, if it is too tight you will struggle when certain costs come up.

Regards,

[Foggy]

Hello and welcome. As has been said above, feel free to have a word with any of the companies represented here and / or at www.iva.com. The advice is free and impartial.

After you have had a chat with Debtfocus, do come back here with any questions and concerns and we will all do our best to help and support you.

[Paula.bg]

Hello. Compared to the experts on here I know very little, but..... this site is brilliant . There is always someone there. We are all going/have been through the same thing. We are here for you

[Shining]

It's a good idea to take the advice of 2 or 3 companies, it can seem to be a long journey sometimes 5 or 6 years in an IVA you need an understanding IP who is approachable and very importantly contactable.

I agree with Paula the site is brilliant and a godsend to me x

[MelanieGiles]

I have never heard of DebtFocus - but is it possible that they are just a firm of packagers and do not have an in-house insolvency practitioner - but may refer you on to one if an IVA is deemed to be suitable. So do check this out at an early stage to be completely happy with exactly who you are dealing with.

[kallis3]

If it's the website I've looked at it does say that they have their own IPs.

[MelanieGiles]

Yes - I can now see that they do have their own IP - one Anthony Fisher.

[kallis3]

Do you know him Mel?