www.iva.co.uk

Hi
Letters were sent out beginning of last week to our 10 creditors.
So far we have had acknowledgements from Tesco, Mint, and MBNA, and a phone call from HSBC manager to say my proposal would probably not be accepted as they thought it was not reasonable, to which i responded 'you will have to take that up with Vincent Bond' and said no more.
The most surprising letter was received today from MBNA saying they would accept our offer and freeze all charges and interest!!![:0]
A few of the companies have phoned wanting money, and when i explain that i am entering a DMP with Vincent Bond working on my behalf they seem to react reasonably, a few have asked for a token payment but not yet been bullied (I am sure it will come).

So , so far so good, i cannot recommend Vincent Bond highly enough(Andy Davie works on our case). He is always available on the phone, and yesterday when i was a little worried after the phone call from HSBC he reassured me instantly, so thank you .

I will keep you posted on the progress

Jon

Just remember, if the call centre staff do try to bully you, they work on commission and will try anything to make you pay.

Many people ask why they should use a fee paying service rather than one of the so called charities. It seems you are receiving an excellent service and I wonder if the same would be the case if you went to a bank funded DMP company.

MBNA loves to have people on DMP.They had no issues for me in having a possible 7.5 year DMP with them? But I had a 'wake up call' and wanted to be liberated from DEBT in 5 years the most.

Obviously their DMP section were not too happy when they saw my an IVA request. What did they do - they revoked the freeze on interest for the debt with immediate effect! Other creditors just continues to freeze the interest on the DMP till they heard the IVA results.

I always think MBNA is a bit of a drama queen on the debt resolution issue.

And No, I will never do business with them again...any loans or CC cards with their moniker in the small print I will reject.

I must admit that having read some of the horror stories on here about CCCS and Payplan with DMP's, I would always go with a fee paying company.

We had a DMP for 18 months with Hamilton Locke, a fee charging company, and had no problems at all. Interest and charges frozen from day one.

At the end of the day I always say you get what you pay for! The "charity" and "free" sectors do a fair job, but they are overloaded and led by the banks criteria, at the expense of true expenditure levels.

Couldn't agree more Mel.

I was happy to pay at the time, and had a very good service.

are you saying that there is a differance between dmps and ivas as far as service goes.because of fees etc.

No

dont payplan charge fees for a dmp jan.

No, Payplan don't charge for fees, the creditors pay for them.

However, the service you get from both companies should be the same. It is sometimes the creditors who prefer dealing with a fee paying company.

as far as i,m aware i thought creditors paid for all fees regarding iva,s at least, out of clients contributions.my iva fees including vat etc was aprox £10,000.and i was with payplan.

You pay the fees for an IVA, regardless of which company you use.

In a DMP, if you are with CCCS or Payplan, the creditors pay for them.

iv,e never been in a dmp so i would,nt know,thanks jan for your reply and helping me earlier regarding emails.as far as payplan goes i had a iva with them, and with their help i concluded my iva after 3.5 years so would personally recommend them.

I have had no problems so far with Payplan.

I didn't know of them when I did my DMP, but was quite happy with the company I used.