We are in limbo at the moment. We were put on to an IVA last November and since then have had to have a variation drafted as the original proposal was drafted incorrectly by Blair Endersby. I have to say their service is pretty appauling, they never return calls when they say they will and generally don't appear to be sympathetic when all you want to do is repay what you owe.
Anyway, that aside, it turns out that as HSBC is one of our biggest creditors they are now rejecting the variation and complaining about the fees side of it. I can see why actually, Blair Endersby are getting around 40% odd of the total debt we owe. Doesn't seem fair really!
Is anyone else out there in the same boat? We are being 'reassured' that we are not alone as they are doing this to other applicants too. But essentially where does this leave us. With a whole load of arrears and more debt if it gets rejected totally! How has that made us better off? No lender will touch us with a barge pole now as our credit rating will have been completely anhialated!
Any comments gladly received.
Thanks
Hi Nicky and welcome to the forum. I do know BE have a presence on the forum and may pick this up and deal with it directly. One of our experts may be able to offer some advice too so we'll keep this bumped up for you x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Thanks for your replies so far, this just confirms what I've discovered. I wish I had done my homework before commencing, I bet there's alot of people like that out there too.
I did have a very interesting conversation with a supervisor today after I threatened a formal complaint. It's amazing how forthcoming with information they can be. That's not really what I wanted but just to be given the correct information, not much to ask.
I'm hoping they will carry out their promises now.
There is a BE rep on here whom will hopefully pick this up.
Im with BE & they are one of the largest IVA providers, though there customer service seems to be lacking in some cases.
Ive had a few hiccups in my IVA & they have helped & got us through them, so we have been able to continue with our IVA.
I have 2 years there abouts left to go & at one point I did not think I would get this far with them, but we have so there is hope.
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
Hi there,
Thanks for all your replies so far, it's made me feel more at ease with the whole process. We are very early days so does feel like an age away but I think it'll fly by in no time. We are 5/60 now. so that's something I suppose.
Thanks again for all your comments and we'll just bear with the process and hope the Insolvency Exchange buck up their ideas and help us poor people stuck in limbo.
Thanks again
I hope BE will pick up on this thread - they're usually pretty good with that.
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
BE are a massive firm so while this impacts on their customer service at times, it doesn't seem to be hurting their success rates. And that's what matters at the end of the day. They may want to look into the level of stress poor customer service causes their clients as they've not had great press on here recently.
If they are getting fees which equate to 40% of the monies that you pay into the IVA, then they must know something that I do not! I would be interested to know how much you are paying into the IVA each month, and what their costs are then based on as this does seem very high.
I have emailed you with our details. I would appreciate an explanation as to the level of fees as I do find them to be quite extortionate after seeking alternative advice from the National Debt Helpline.
To be fair to BE the fees are normally agreed between the IP and creditors and cut if creditors feel they are inappropriate. Given that you only entered into the IVA in November it may be the case that BE have not even covered their costs to date.
How much are you paying each month and how much have you paid to date?
