www.iva.co.uk

I had an email this morning from a company called Trapped.co.uk offering to propose me for an IVA if I had debts of more than £4000. I thought this was a bit weird because I was sure it was supposed to be debt of more than £15000 for an IVA. Also, more worryingly, it quoted APR rates at the bottom of the email. Has anyone else had one of these?

IVAs are not normally accepted for debts of less than £15k although there are exceptions such as where there is a bankruptcy petition pending. This has come about in practice and is not part of the law but realistically there are other options for debts of less than £15k.

Trapped are basically an introducing firm who take your details and then pass the information to whichever mortgage company, debt management company or IP firm they feel is appropriate. You could use them if you wanted but I am not sure if they charge any up front fees which you would not have to pay should you contact an IP firm directly yourself.

Looking at their site they simply charge you a fee to put you in touch with another company including bains and erst and a few others.

Go direct is my advice,no point in paying someone else to direct you towards an IP!!!

Oh, I'm already three years through my IVA so they're too late for me, I just thought it looked a bit shifty!

Wonder where they got your e-mail address from?

I don't know. I get loads of spam through though, the best thing is that the one after was for a credit card!!

I get tons of spam offering me credit cards, loans and telling me I am a multi millionaire and I have no idea where they get my email address from.