welcome ..there are a number of different options for you to consider - DMP, IVA, Bankruptcy .... your best option will be to discuss your set of circumstances with some professionals and let them advise you as to which way you should turn.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Adam I hope you get the answer you want after speaking directly with 1 or 2 IVA companies.Go on get on the 'phone and you'll know where you stand.
Oscar
need to smile today? go on check out my blogs - I'll add to them regularly
Our IVA's over YIPPEE unbelievable!Seems like yesterday it was approved despite everything
With £10k of debt, if you don't own your own house or have more than £50 disposable income then a Debt Relief Order might be an option.
Certainly speak to one or two companies and look at all of your options.
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
Thank you all for your replies to my thread - im new to this forum. As i stated in my post the message was mainly intended for any IP's in here. Im a debt advisor myself who works for a large organisation which is a member of DEMSA. Last year, when we were giving advice to clients - the debt level for IVA's dropped from 15k to 12k and now its gone to 10k! (hence my post). I've tried speaking to the team that deals with proposals and MOC but they dont give out any clear info. Thank fully im not in any sort of debt and i love helping people with any sort of debt problems! (i dont know how to change thing on the side on my avatar pic from new member to summat else). All i wanted to know is that are IVA's actually being accepted at a debt level of £10k? It would be lovely to hear from any IP's as the company i work for (which id rather not disclose on here) we dont have direct contact with IP's unfortunately even though id love to as I really wanna find out more and expand my knowledge!. Anyways people thanks for your posts - i shoudlve made it abit more clearer! - Hope to hear from any IP's in here or fully trained debt advisors. Thanks
Your 'new member status' changes automatically Adam, maybe one of our posting IP's may give you the information you're looking for advice so hang in there. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Adam, you're not able to change your status yourself, it changes periodically when a certain number of posts have been reached. Only admin or Andy can change them otherwise.
If you were thinking of an expert then you will have had to make a number of posts and be giving good advice before that is considered. You can always contact Andy Davie to ask about it.
As regards the 10k IVA limit, I've personally not heard of it at all.
As you'll appreciate, the debt advisors and IP who post on here do so in their spare time and they're not always around to pick up on these things.
Hopefully one of them will soon.
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
Given that you are already working in the debt industry - and for a DEMSA member at that - I am sure that you know that there is no monetary barrier to the proposal of an IVA - either on level of debt nor disposable income, merely commercial barriers set by individual firms.
I think that that Cleardebt will do IVAs for debts as low as £10,000, and am sure that the two "charity" companies do as well.
Thank you Melanie - you see - as im just a debt advisor i dont get to see much on what goes on after the pack has arrived back and the proposal, MOC etc... only thing i do is purely give advice based on the situation. The answer you have provided is what i was looking for! great stuff! would also like to know how nominee fees and supervisor fees are calculated... is there a set % on this... melanie thank you once again
I am happy to answer all of your queries on the forum - but would have to say that I am suprised that a debt advisor working for a DEMSA approved firm is looking for such basic support. Can I suggest that you ask your employer for further training, as you should be able to answer these questions - given that clients of your firm are probably going to and you need to be in a position to respond credibly. The DRF run an excellent course - the Certificate in Debt Resolution. This would be an ideal qualification for you to study and benefit from in the long run.
Best to check your own firm's policy on fees - there are many different versions and no right or wrong answer.
- Hope to hear from any IP's in here or fully trained debt advisors. Thanks
