www.iva.co.uk

Hi Im new and want to know if anyones heard of a company called VA Assist? It was formed only last year but looks good for an iva with no upfront fees but how can i tell?

Use www.iva.com for reviews of companies.

As plasticdaft says, look them up on that link. Always best to go with a company with a proven track record in these things.

Also do your research on the company involved and it's directors, if they have been directors of numerous companies, then ask yourself why or if it's just their first, what have they been doing before to get the experience required. The company and director info can be found on www.companycheck.co.uk you can also do similar searches on the Consumer Credit Licence to see if they all tie up, if not then why?

If you are interested in particular companies you loke the look or sound of ask for personal recommendations on here. Also have a cruise around the forum as many companies post here and you can get a feel for how they work.

Using the link that plasticdaft gave, speak to a few companies there, it's free and imnpartial and will give you more information and allow you to compare. Most companies won't ask for upfront fees and any other fees are taken out of the monthly repayment.

Trust your instincts. You should know a hard sell from the correct advice and never be bullied or pushed into anything. You should always have time to read and digest any documents sent and make up your mind.

I must admit I wasn`t aware of of "up front fees" in this sector, and as a business owner would be wary - having learnt my lesson in a non-iva situation !!!

Yes, HD, less scrupulous companies have been know to charge fees before doing anything .. and after that the service has been doubtful.

There are also many companies who are simply introducers (and aren't very clear about that). These often charge a fee for their services, some introducers, though are paid by the company to which they refer you. However, there is absolutely no need to be "introduced". Going direct is far better as you will then know who you are dealing with.

Having looked at their website there are some inaccuracies on there.

The company does not need to send the paperwork to the court for it to be returned back. Once your signed proposal is sent back then the creditors meeting is usually 16 days from that.

There are other parts on there which really need updating.

I wasn't overly impressed to be honest and I can't find the name of an IP on the Insolvency Service site.

Research several companies and trust your instincts having spoken to them. Do not just react to a good web design. Typically an IVA will last 5-6 years and that is a long time to work with someone you do not have a rapport with. I loooked at 3 or four companies before making my final decision.

+1 what Rod Newman has said.

Research and then gut feeling after speaking to them. I nearly went with a company but was put off by the upfront fees. Do they seem to be interested in you or just in making money out of you? This turned out to be good for me as I am more than happy with my IP. The first company no longer exists, from what I have read on here.

I have never heard of them to be frank, but a search of the CCL register indicates that they are owned by Business Resolve Limited who trade from offices in Chesterfield. The only three IPs listed on the Insolvency Service website for Chesterfield all appear to work for other companies, so it is likely that they may be a packaging company who will ultimately refer you on to an IP firm probably levying some form of charge along the way - either directly to you or to the IP firm they will refer you to.

Some questions I would want to ask if I were in your shoes:-

1 What is their success rate of acceptances at creditors meetings?
2 What percentage of their cases do creditors adjust the level of monthly payments upwards at the time of the original creditors meeting?
3 Do they follow and use the IVA Protocol?
4 Are they members of any recognised trade associations?
5 How many complaints do they have recorded over the last year from clients?
6 Do they have a Consumer Credit Licence?
7 Will you be able to speak/meet with the IP prior to signing the proposals, and can you have direct access to the IP once your IVA has been accepted should the need arise?
8 What is their average break rate? (cases which fail rather than successfully conclude)
9 How long does it normally take for the IVA proposals to be presented?
10 If they are not the IP firm themselves, what financial agreements are there in place with the IP firm they will refer you to?

The answers to these questions ought to give you plenty of valuable information with which to make your decision. Good luck in your search!

I wasn't overly impressed to be honest.

Melanie's list is very comprehensive of what to ask and together with that - trust your own judgement and the feel of any company you work with - do they listen to you, do they treat you how you want to be treated, do they work with you in relation to your own circumstances, do they give you time, do they give you a sound level of information about your options and the process - and in terms that you understand?

This all may sound daunting but as everyoneo n here will tell you - choosing the right path at the start gives you the best chance of success.