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
Hi
Quote "Although he has a vested interest in this – an arm of CCCS also offers IVAs – he says that in the first half of this year only 2% of its clients were advised that an IVA was the best solution to their debt problems, and none has failed. Record numbers of IVAs are being taken out. The most recent figures from the government's Insolvency Service show that, in the second quarter of this year, there were 12,225 new IVAs in England and Wales – 27.4% more than during the same three months in 2008."
So 98% of CCCs enquiries are advised that they need no help, a DMP or bankruptcy/DRO ?
Why do IVAs get such bad press ? we all know that in THE RIGHT CIRCUMSTANCES they are an excellent way to deal with debt
Regards
I agree Andy. Although mine failed, I still think that they are an excellent solution for many people. The key is getting the best advice so you can make the right decision.
If only 2% of people who approached the CCCS were advised to go for an IVA, I'd be interested to know the breakdown of what the other 98% were advised.
I am happy with mine at the moment - I do wish that IVA's weren't given such a bad press. Some of these financial writers should actually speak to people who are either in an IVA or have completed one.
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'm happy with mine but will admit to struggling at times, although at the same time I realise I was coming up to a worse place pre-IVA as we were fast running out of credit to use.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
im happy with my iva too, as long as my IP does not expect more than i realisticly can afford then i dont see why my iva cannot be successfull, also they are a good learning cove regarding spending & this will hopefully hold me in good stead when i have completed my iva.
Hi
I wonder if the CCCs can give a breakdown of the non IVA solutions advised to 98% of their enquiries ?
The cynic in me would suggest a very high proportion of Debt Management Plans ?
Regards
It would be very interesting to see what they have to say.
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
Just to follow on from your post. The CCCS do also feel the IVAs are a fantastic option for people that are eligible for them. IVAs have had a lot of bad press in the past and this is something that within CCCSVA we are trying to change. CCCS advisors will discuss IVAs if this is our clients’ best option.
The stats quoted in the Guardian article do mention that this was the best option for 2% of our clients’. Just to try and put things into perspective out of 81,000 clients’ counselled in the first half of the year around 31% of these were deficit budgets and advised to make token payments.
Regards
Sarah
CCCS is a registered charity. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and their possible implications but not make them for you.
To be fair to CCCS, I personally refer quite a few of my enquiries over to them if it is appropriate. For example, very low DI's or deficits, or clients who would be better served by a Debt Relief Order. If you assume that most if not all other commercial organisations would do the same, rather than send someone away without any help at all, then that would surely skew those statistics a great deal away from IVA's.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
I agree with the above as you are aware i am with DFD and had some problems at my I+E review this year. I agree with Andy i think it would be more prudent to put the previous years I+E and then review it from that.
Om shanti, namesté, good luck to all who are embarking on the IVA journey, it isn't always an easy one but the outcome is the best.
IVA COMPLETED August 2012, received Completion certificate 18.4.13.
Orchid, when you say you had some problems at this years I & E review was that because of DFD or personal, if it was because of DFD I would be gratefull to hear what. thanks
