Has my IVA company been unethical and if so what course of action can I take ?

[Stephen.14]

Thanks for the clarification.
On the contrary Mr Peoples i do value your opinion with the highest regard and those of everyone else who has taken the time to comment which is why i entered the forum to ask an expert.
However it does not mean that i agree or disagree with everything everyone says.
I dont know about everyone else but i feel as though i am being goaded into a mud slinging match on here when all i wanted was a simple yes or no with a small explanation of the reasons that your opinion was formed.

best regards
im out

[Gettingthere]

I hope you get your situation sorted out Stephen, I must say that Michael has been one of the very good guys on this forum in my near 5 years in an IVA, providing assistance and just listening and giving guidance if he were able to so, please do not think that because of your situation that all IP companies are the same as they are not, yes they all should be looking after their clients and the creditors but there are exceptions to the rule unfortunately.

I also understand where you are coming from with regards to PPI, to the best of my knowledge I was not offered the opportunity to claim myself instead of dreaded EIF but hey ho after about three years of filling in the same forms and having to deal with a lot of the claims myself due to their incompetence they seen to have gone quiet, not that I do not have questions that I need answered though but that is not down to my IP company or the claims company, I.e. How can one claim PPI on a loan before the IVA, get offered £900 then a claims company get offered nearly £5000 on the same loan several years later? All very strange but I will be looking into that matter believe me

[Foggy]

Gettingthere --- the varied offer situation at the end of your post is down to the banks trying to shirk having to repay in the early days of the PPI scandal. Although they were admitting claims they were making token refunds.

Eventually the ombudsman noticed and ordered that they revisit the claims and pay the correct amount.

Personally I feel that they should also have been ordered to pay compensation.

[karenerb]

I think some of the posters here are being rather defensive and have possibly contributed to the general inflammatory nature of some of the posts
the original poster asked a simply enough question
"has my IVA company been unethical and if so what action can I take?" I am possibly being really stupid here ( and feel free to say I am) BUT has ANYONE actually given a straight forward YES or NO response to his question?

[lifenoteasy]

Simple answer is he has spent at least 6 years of his life trying to repay what is owed.

The system at times does not seem designed to allow that or you are left with paying for others to get their share.

That's where the frustrations are coming through.

I went into an iva to get out of an iva - when we see anyone doing that we are glad.

When it gets frustrated we understand why people get frustrated.

[Foggy]

The reason there has been no "yes or no" reply is that, without sight of all of the paperwork from both sides, it is impossible to tell.

If the OP disputes the valuation he is perfectly at liberty to get his own. He is also free to refuse any offer of a secured loan if his proposal doesn't cater for the use of such a device.

None of us KNOW the relationship between valuer, loan company and IP (nor, it seems, does the OP). So we cannot give a definitive answer to a nebulous question.

As for "some posters being rather defensive", they gave their opinions and were rebuked -- so, yes, they are entitled to defend their responses.

If the OP wishes to take action he can complain to his IP's regulators via the Government Gateway and read up about the process here:


https://www.gov.uk/complain-about-insol ... actitioner


Regulators cannot overturn an IP's actions, if they were taken correctly, they can, however, hit the IP where it hurts in the event of malpractice and order fines (sometimes quite substantial).

[relieved33]

Without knowing the full details I think it's hard to answer yes or no.

IF a company values an asset at anything other than it's true value to gain, then in my opinion it's unethical.

If a company values something and offers a loan for that value and that amount is true, it is not.

In this case we do not know the full details.

Any company that chargs £4000 to arrange a £6700 loan in questionable too.

The very nature of the forum is to share experiences andvto get some professional input but that can only be on information given. IVAs are that - individual. I do not think people should be slated for choosing not to comment on a post. Posting here is voluntary and if I was an expert on the receiving end of some of the posts recently then I wouldn't bother to be honest.

People give their time freely and I have used the forum a number of times over the past six years and I have no doubt that it kept us sane and gave us confidence throughout our 5 year iva and I think it would be a shame to lose the remaining experts.

There has been a change to the overall mood on here recently that I do get. I would hate to have been with Mel only to be sold on to a company that appear not to be coping that well. However, let's remember this is a public forum where people, expert or not, should be free to express their own opinion IF they wish to do so in a respectful manner.

[relieved33]

You beat me to it Foggy!

[Michael Peoples]

Stephen.
Your opinion is as valued as anyone else and there is no need to leave the Forum. However as Foggy has stated really well we cannot give a yes or no answer because we do not know the whole ins and outs of your case.

Also to clarify. I am personally salaried and recieve no bonuses, overtime or commission from my work in the office or the time I spend on the Forum. The time I spend during working hours is funded by my employer and any evenings or weekend time is my own personal time. If as a firm we generate the occasional case it subsidises my employer's costs otherwise there would come a time that it would be just too expensive for me to post.

The vast majority of queries relate to existing IVAs in companies other than our own but I, like the other experts on here do not ignore these and just try and get the new leads. Every query is answered where possible to the best of our abilities. I have sent numerous people the CCCS/Stepchange guidelines and advised many off the Forum where they have had problems. All done without a question of a fee.

We are a private firm as was Melanie when she posted in the past and we provide free help and advice. However, the bank funded 'charities' such as Stepchange or Payplan have no representation on here and make no attempt to provide free help and assistance despite being paid by the banks to provide that very service. If it was not for the likes of myself, Andy, Foggy, luluj, Lesley etc there would be nowhere for many people to turn so while what we do is not perfect it is better than nothing.

[lifenoteasy]

Thanks for the clarification.

As you can tell people are pretty edgy at the moment and I'm certainly more stressed than I have been for a long time.

[Gettingthere]

Michael, foggy, Lesley and Andy amongst others I would just like to say thank you for all your time, effort and help you put in on this forum, just saying

[Keiron]

Here Here I would just like to say,without the advice/help from Michael, foggy, Lesley and Andy amongst others. I would not know which way to turn to.from the start of my IVA 12 months ago, they have all help me through out,and put my mind at ease.

Thank you for using your time in helping me get through my IVA.

[Stephen.14]

Im back
I know you all missed me !!
I will return with names and more details when im free for my unscrupulous IP.
I will for the record say that it is NOT anyone that has kindly offered there advice and opinions
on here.
Upon reading my IVA proposal to the court there are untruths on there too
The plot thickens !!

[grimswold]

I agree with Keiron and others. Without Foggy, Lesley, Andy, and especially Michael I would be in an utter mess right now with no ability to stand up for myself whilst coping with an incompetent IVA provider. I thank them all from the bottom of my heart.

[Shining]

Thank you all for your kind words, I'm just a person who was in an IVA previously, I do like to support where I can. But glad to be able to bring a little comfort to those who need it.