Hi, I've just arranged an IVA with a company called Express Debt Solutions (part of Norton Finance). Has anyone used these guys & how do I know if they are a genuine company? The phone interview lasted about an hour & everything seemed proper, no fees were asked up front but he did say the first couple of payments would come off my debit card then standing orders after that. Is that how it works. Hope someone out there could shed some light on this for me!!
I don't actually know anything about this company but it sounds as though you're only just starting out on the journey so it's not too late to go to a different company if you're not happy.
We have several who post on here and whose details can be found under the ask a quedstion link on the left hand side of the page or you can visit www.iva.com for a list of companies and reviews and give one or two a ring for some free advice.
Make sure you're happy with the company you choose - 5/6 years is a long time to be with someone.
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
As Jan says it's a 5 or 6 years relationship and you need to feel confident and at ease with who you work with. I have had to discuss personal health issues with my company and have been very happy to do so because of the research I did before starting the IVA.
The only thing I would say is do a google search for reviews on Norton Finance. I have seen some negative comments (but people are always quick to knock companies so make your own mind up!)
I would always advise speaking to 2 or 3 companies before proceeding and if you're having doubts now, try another couple at least. Lots don't want upfront fees and your first payment will be to your IVA. Good link above as a starting point. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Agree with the others - check around - what however concerns me is they are asking for debit card details (this gives them direct access to your account via automatic card payments) then a standing order.
Without seeming to be an old "foggy" Never give card details to any company unless you are 100% sure of them - you or your bank can NOT stop these payments
Hi. Like everyone says check the company out. Maybe approach a few more and as for the debit card payment we made the first month by debit card then the rest by standing order . Not heard a few payments being by standing order before. Make sure you are happy with your provider as we had to end our first iva due to a lot of problems with our provider and it was a costly mistake. Hope it all goes well.
My payments have always been made by standing order. I didn't have a debit card at the start of my IVA.
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
I don't understand why the first couple of payments are different to the rest. Check how many payments there will be - are the 'first couple' still IVA payments or are they actually fees, with the SO payments marking the beginning of your IVA? If that isthe case they haven't exactly been honest with you which would be worrying, if actually the first payment you make is payment no. 1 into your IVA pot - they just take debit card until the SO is set up then that is fair enough but it should be easy to set up a SO from the beginning.
I am not sure how far into the process you are with this company - has your proposal gone to creditors? Has a creditor meeting date been set? If you are still at early information gathering stage make sure you are happy and well informed before committing any further.
Keep us posted and glad you found us all - everyone will be very supportive to you along the way.
Last edited by Tina Shortland on Fri Feb 10, 2012 10:40 am, edited 1 time in total.
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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My frist payment was a cheque, which I never got a yes would be returned, the next I paid myself though online banking as it was xmas/new year hoilday.
Now all set up by iva company for so each months payment.
IVA now over with and it was worth it.
now starting my life again,
I didn't even have any cheques that I could write!!! As soon as the IVA was approved we set up the standing order for two weeks later.
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
I can only comment on my own experience and you must decide for yourself but I was helped and advised by Dawn Pryce at Grant Thornton and she has been brilliant and taken a personal interest throughout the process. Worth at least talking to her I suggest for impartial advice and genuine help.
Thanks for all the advice guy!! I only spoke to the company yesterday, all the paperwork has come through today so we are in the very early stages, I have a 14 day cooling off period so I think I will take everyone's advice on board and try somewhere else. Things are stressful enough without having the worry of being with the wrong company!!
If I ring this company to cancel, I guess I just tell them I've had a think about things and don't want to go through with it. Do you think it will affect me getting an IVA elsewhere??
Finally any suggestions for some reputable IVA companies?? The internet seems flooded with them & I don't know how to choose!!
Yeah - just tell them you want more time to think about it and you'll contact them in the future. It won't affect your ability to get an IVA elsewhere.
For a start have a look at the ask the experts a question section of this forum. You could do a lot worse than pick anyone here!
If you speak to 2 or 3 and maybe look at some of the threads you'll get a good idea of who to check out.
It's down to personal preference really so not really a good idea to recommend, but you'll see 2 or 3 on here that you'll think about contacting!
We had to send a postal order for our first payment, prior to the initial creditor vote, once it was rubber stamped, it gave us time to set up a direct debit from our squeaky clean co-op account for the second payment onwards.
Aucto Splendore Resurgo.
IVA accepted May 2007.
Extended by 12 months in lieu of equity March 2012.
F+F offer accepted May 2012.
C of C received August 2012.
IVA dropped off credit file 24th May 2013.
