www.iva.co.uk

At what stage can i change my IP. I had my proposal rejected at my creditors meeting last week and it looks like i'm going to have to go into a joint IVA with my wife. I've not been overly impressed with my current IP so is it too late to change?

You can change your IP and submit a new proposal via a different one if you like. You will need all your info back so it would cause a delay and your existing IP should be able to draft a new proposal quicker than a new one.

However, if you are not satisfied with your old IP it may be better to switch for if your new amended proposal is accepted you will be with that IP for five or even six years.

Any new IP will need to speak to the creditor[s] who rejected to ensure that a new proposal would be looked at more favourably. Good luck.

I don't expect there be too much of a delay approaching a new IP - especially if it's now no longer a sole proposal.

If you have not been happy with the current IP firm, do think that you have to be there for the next five years. A new IP should not take too long to be able to represent the proposals, and creditors may be more mindful to consider another offer which has had a fresh pair of eyes to it.

Melanie

I need to discuss this with my wife tonight, but would you be prepared to take it over if we opted for a joint iva?

Good luck sprowstonboy....I have just been accepted by Melanie to represent me after some questionable advice I had received from another firm.

It's starting from scratch again and will add a bit more time in terms of calls from creditors etc.I hope the old firm don't get eggy in sending back my documentation in good time.

Cath what a position to be in with your previous IP, however, you have done right in my opinion....the staff at Melanies office are great and nothings too much trouble....except me I suppose:-)

I just feel so let down with poor advice and i was paying £400pm for it. It seems, now, that my proposal was always doomed to failure and then, today, they tell me i really need to find another £300pm on top of my proposal and it would help if my partner could reduce her debts by £300pm. No help with how though!

So sorry to hear about your problem with your IP sprowstonboy, I too was initially advised by a couple of Companies I spoke too to make two up front monthly payments to get the case to IVA, where as with the IVA Advice Bureau this was not required.

Good luck, surely you can get your money back if a successful conclusion is not reached in obtaining the IVA?

In my case I wasn't asked for any upfront money and cannot find anywhere anything that says if I don't proceed I will have to pay for work undertaken....fingers crossed!

I'd made 3 payments and no.4 was due tomorrow, but i've cancelled the SO. Thats £1200 gone and i'm not much closer to solving this!

Cath same here....was advised by Tina at Melanie Giles team that I should keep my money until the first IVA payment is due, this would ensure that I got used to being on the required budget and could afford the IVA payment.

sprowstonboy that is absolutely horrifying to hear!!!!!!!!!!!!!!!

Surely for that amount of money the Company should continue until a succesful conclusion to your IVA is reached, or if not refund you the money.

PS: I suppose at least some of the money will of been paid to your creditors by your IVA firm.

I think it's more likely that it's taken up with 'fees' or is that just me being cynical?

sprowstonboy sincerely hope not.