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Posted: Tue May 12, 2009 12:23 pm
by bigpete
Last night I was watching TV, it was 'Beat the Bailiff' hosted by 'financial expert' Lorne Spicer. In this programme she was giving advice to a chap who had built up a substantial amount of debt.. She told the chap he had two choices; one was to undertake a Debt Repayment Programme for 15 years and keep his house and the other was that he would have to sell his house (he had equity) and do a five year IVA..
Well I thought, bit strange that, as usually the debtor has to raise equity by remortgaging and does NOT have to sell his house.. Hmm thinks I, I'll look this Lorne Spicer up, and low and behold, she filed for Bankruptcy in January!
It can happen to anyone..
http://www.telegraph.co.uk/culture/tvan ... uptcy.html
Posted: Tue May 12, 2009 12:43 pm
by tele2002
[B)] Well what can you say!
Posted: Tue May 12, 2009 12:47 pm
by Skippy
Is this also the same Lorne Spicer who presents some of the daytime rubbish on BBC? I've been unfortunate enough to see Cash in the Attic a few times and I don't see how selling other peoples' things qualifies you as a financial expert!
Posted: Tue May 12, 2009 5:14 pm
by kallis3
I hate people who know nothing about IVA's giving out duff information!
I know I don't always get it right, but I do know enough that I would not be telling people they would have to sell their house for an IVA!
Anyone who is thinking about what they are going to do might be put off by such things as this.
Posted: Tue May 12, 2009 5:38 pm
by mickyboy
I agree with you Jan. Over the last few weeks i have read so much information on IVA's that when you see a programme like this, it really makes the blood boil.
This information can really make someones situation seem a lot worse than it already it is.
Posted: Tue May 12, 2009 5:45 pm
by mole
Agree on a forum like the BBC you should not say anything unless you are 100% sure of the advice.
That said she must have gone through a lot and BR for someone in her position cannot have been easy. We should email her at the Beeb and ask her to start reviewing the forum so she won't make the same mistake again!
Posted: Tue May 12, 2009 6:24 pm
by kallis3
Br isn't easy for anyone, doesn't matter what they do for a living. She should make sure of her facts before giving advice though.
It also shouldn't matter what forum she goes on - she should make sure of her facts, or get them checked out before she posts.
Posted: Tue May 12, 2009 6:36 pm
by Fox84
You never seem to get much info regarding IVA's on tele, they seem to be a bit of a secret! talking of media financial experts one that really gets up my nose is Martin (state the b***** obvious Lewis) I could easily poke him in the eye!
Posted: Tue May 12, 2009 6:38 pm
by sparklywatcher
I have to say I had no idea of the options open to me until i called National Debtline, had never heard of IVAs or DMPs.
Posted: Tue May 12, 2009 6:38 pm
by Fox84
It appears I swore! sorry[:I]
Posted: Tue May 12, 2009 6:41 pm
by kallis3
You will probably find that the site censored your word Fox - there are a lot of words which it self censors - wouldn't worry about it.
Posted: Wed May 13, 2009 8:03 am
by David Mond
bigpete wrote:
Last night I was watching TV, it was 'Beat the Bailiff' hosted by 'financial expert' Lorne Spicer. In this programme she was giving advice to a chap who had built up a substantial amount of debt.. She told the chap he had two choices; one was to undertake a Debt Repayment Programme for 15 years and keep his house and the other was that he would have to sell his house (he had equity) and do a five year IVA..
Well I thought, bit strange that, as usually the debtor has to raise equity by remortgaging and does NOT have to sell his house.. Hmm thinks I, I'll look this Lorne Spicer up, and low and behold, she filed for Bankruptcy in January!
It can happen to anyone..
http://www.telegraph.co.uk/culture/tvan ... uptcy.html
What very unfortunate and possibly wrong advice - I will get a look at this and get the BBC to make it perfectly clear what the real appropriate advice should have been. Outrageous[V]
Posted: Wed May 13, 2009 10:15 am
by bigpete
Hello David
I am sure of my observations, we have Sky+ and when Ms Spicer aka Donovan stated these comments, we played it back three times to ensure we'd heard correctly. The person involved had a £500 cat and a lot of technical equipment, which might jog a few memories of readers? It was on Tuesday 11th May Sky 3 at 5.00 Channel 108 (Produced by Lion TV)
Posted: Wed May 13, 2009 6:40 pm
by bigpete
Just finished watching another episode of Ms Spicer's 'Beat the Bailiff' on Sky3 at 5pm tonight - this one was about a mother and daughter who had amassed a total of £22,700 debt.. Advise from Spicer; Negotiate to freeze interest, pay creditors £1 per month, increase income to pay more or, because mother had £50,000 of equity in her house to sell it.. Uhh? I'm pretty sure this could be sorted out without selling the house? No wonder Lorne Spicer went Bankrupt!
Posted: Wed May 13, 2009 7:40 pm
by kallis3
I might have to start watching that!