www.iva.co.uk

This is one for the experts - while I was away last week I saw a story on the One Show about BR, and they were talking to an IP (I think) who said there are going to be some minor changes to the BR system. The one she mentioned was that they are going to do away with early discharge and everyone will be BR for 12 months.

Have any of the experts heard this?

Sorry Skippy new one on me. If I can find out anything I will let you know.

Nor me, but if I remember I shall look on the BBC player/catch up service to have a look. can you remember what day it was Skip?

Regards.

Now you've got me! I think it was last Wednesday but I'm not 100% sure.

I may have misheard as I was getting ready to go out, which was why I was wondering if anyone else had seen it or heard about it.

I've just looked on the website and it was actually Tuesday...

Hi - I saw that one too - they also mentioned something about it being harder in the future to declare yourself BR...

I asked a friend who is a solicitor about this matter - he said the Govt are trying to make B/R more difficult for what he called "those who play the system" but in doing so they are likely to make it far more difficult for those who have hit misfortune. He hopes that the Govt will introduce "compulsory" IVAs on order of the Court but a consultation paper is on its way to "interested parties".

Some of these so-called factual programmes cause more bother than enough. I often wonder where they get their 'experts' whether in finance, health or anything else. I have heard more rubbish on TV than all the other forms of media combined and it seems to me that someone just has to say that they are an expert and the TV companies believe them.

Michael, if you get one of the consultation papers will you post please?

We all know that insolvency is on the rise - and for a lot of us through no fault of our own. Won't 'conmpulsory' IVAs just turn them into the 'new' BR? I personally entered into an IVA because BR would have meant me having to leave my job, and the industry in which I was working. Not something I wanted to do back then....

Personally (and this won't be a popular opinion!) I think it will be no big deal if they do away with ED. We are getting a fresh start and having a lot of money written off, so surely being BR for a year is a small price to pay.

I would agree with that Skippy....12 Months is not a long time to be BR at all so getting ED makes very little difference anyway

Single Mum - I did not post all he said - one thing he did say that compulsion would hopefully stop some creditors rejecting an IVA when it represented a best offer and also to stop creditors trying to force higher payments which would cause unnecessary hardship to debtors particularly those with children. He is dealing with a Northern Rock attempted reposession at present and he told me they are the most unreasonable people he has ever dealt with.

Elv5 - can totally agree with that - and can see where the benefits would lie...

This might cheer you single mum - he also said he is determined to put N/R in their place if it means going all the way to the Court of Human Rights - he is acting pro bono.