Keep getting calls from what sounds like a call centre claiming to represent Vincent Bond? iam currently on a DMP with Stepchange paying £400 a month (total debt around 40K) Did a quick I&E over the phone with thee very helpful young lady, who after a while consulting with i assume to be her manager, that under my current circumstances an IVA proposed at £150 per month would more than likely be accepted!!? should i take this advice at face value, or be extremey careful of taking up something that seems to good to be true?
I would have a word with a couple of insolvency firms directly and see what options appear viable.
On those figures and IVA would seem better than a DMP ---- were you given the option by Stepchange ? Of course, we don't know the full picture and a chat with a couple of IP's wouldn't go amiss.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Have you made a direct enquiry to this firm, or are the calls unsolicited - in which case how have they obtained your details?
If you are affording £400 per month to your DMP - which will take over 8 years to repay with the non-fee charger you are using, I do wonder why an IVA was not considered at the time you selected the DMP option - and how Vincent Bond feel that they can reduce you expenditure down to £150. This seems such a material difference to that which you are already paying.
Didn't Stepchange offer you an IVA at the outset, or at the annual reviews they are required to perform?
It may be worth speaking to someone else as VB could be correct or perhaps the true figure is somewhere in between. I have seen cases where the spouse's income has been used to fund the repayments even though they had nothing to do with the debts. Bear in mind Stepchange are funded by the banks and receive commission for what they collect so it is in their interest to get the maximum they can from you.
