How do I know they are a reputable company

[pamela.m]

I had a company call me regarding an IVA, (not sure how they got my home number) and after taking lots of information they said I was elligible (have debts over 15k to more than 3 credit cards and bank loan. They have arranged a meeting with me. How do I know they are a reputable company and have you heard of them? They are called creditfix, and are part of Red to Black finance. www.creditfixpersonal.com
Kind regards, Pamela

[MelanieGiles]

Hi Pamela

I would personally avoid anyone who cold calls you, but see what they have to say. They sound like a firm of "finders" who will probably just refer you onto an insolvency practitioner.

I have personally not heard of them, so cannot say whether they are reputable or not, but this sort of approach is generally frowned upon in my profession.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[louisa.s]

I agree, personally I would never go with a company that cold calls out of principle. That and if you are seriously contemplating an IVA you should really shop around - speak to about 3 companies and see who you like. An IVA lasts for 5 years so you do really need to like the company you deal with.

One other thing about speaking with a couple different companies is you need to get the right advice as although this company have said they can do an IVA it may not be suitable for you depending on your circumstances, income and expenditure and more importantly the money you have left over after your outgoings each month to repay your debt.

[emma_t]

Hi Pamela

I would never have arranged anything with a company that cold called me.
If you are looking for someone to represent you have a look on www.iva.com at the reviews.
Get a few opinions before you decide hat to do

Good luck

[iva experts]

Hi Pamela,

I too have never heard of this company, why dont you have a look on www.iva.com this is a site that compares different companies in the industry. I believe people who have used the companies can rate the perfomance of the company.

As Louise has already mentioned, we on this forum always advise individuals to contact at least 2 or 3 companies to see that they have been given the correct advice regarding their debt situation. You are not bound to anything just yet, so you are able to call as many companies as you like.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

[Oliver]

I have not heard of this company either but that in itself shouldn't put you off completely.

I think that it is always advisable for a person to contact 2-3 companies to gain a wider perspective on the advice given.


Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[Adam Davies]

Hi
I do not like the idea of companies cold calling and suggesting IVAs,this is the type of selling that the industry needs to get away from.
On their website they stste "The principals in Creditfix have over 50 years combined experience in Financial Services, Consumer Lending and Credit Management. Creditfix expanded its operations recently by acquiring an Insolvency Practice that offers IVAs, Trust Deeds and Debt Management solutions throughout the UK.

I wonder if you have recently applied for a loan and was rejected and the loan company has passed your contact details onto this firm ?
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Skippy]

I wouldn't trust a company that cold called me. We were actually cold called at work a little while ago - I didn't get the call or else I would have got more information!

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[iva.com]

Hi Pamela,

We haven't heard of this firm either. While that doesn't doesn't mean that theres anything to worry about. We do not cold call and try to avoid listing those who do. Did you ask where they obtained your contact details?

As some of the other posters have mentioned we maintain a list of IVA providers at www.IVA.com and publish client reviews of the services that they provide.

Please let us know how you get on.

Kind regards,
Terry Balfour
IVA.com

IVA.com - The IVA Comparison Site
100s of reviews, All IPs and IVA firms rated.

Use our IVA firm comparison tool to find best IVA firm for you:
http://www.iva.com/iva_comparison_1.asp

[Beechy]

Hi
Part of the problem here is that there are some good companies out there who have IP's and offer a good service. The problem is that when a broker type company contacts an individual they don’t have to say there are a broker, and that they will sell on the information.




Dave Beech

[ben87]

Hi
I do not like the idea of companies cold calling and suggesting IVAs,this is the type of selling that the industry needs to get away from.
On their website they stste "The principals in Creditfix have over 50 years combined experience in Financial Services, Consumer Lending and Credit Management. Creditfix expanded its operations recently by acquiring an Insolvency Practice that offers IVAs, Trust Deeds and Debt Management solutions throughout the UK.

I wonder if you have recently applied for a loan and was rejected and the loan company has passed your contact details onto this firm ?
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

nail on head!

I got stung by this company a few months ago. I had £750 (3 lots of £250) taken out of my bank account even though I contacted them the next day to let them know I'd lost my job and therefore couldn't go ahead with an IVA. I'm still waiting for a refund [}:)]

I did a bit a digging and found out that Creditfix is aka BackToBlack. They took over a struggling IP in Shipley about a year ago. Their Glasgow office is basically a call centre and they push IVAs very strongly irrespective of whether it's actually best advice for you. If you have enough debts in total and your income is enough they will send a salesman round to get you signed up. They even suggested things to add to my outgoings to make the IVA payment more affordable for me. [?]

What they didn't make totally clear is that the standing order I was conned into signing along with the other paperwork is actually for an upfront payment to BackToBlack. It's set at 2x the IVA contribution, presumably it's their wedge for introducing the IVA sale to their own IP office! [:0]

So you get stung for a substantial payment upfront(several £100s) and it's non-refundable if the IVA doesn't go through! [:0]

Their sales staff just skirted around it passed it off as being just that the first 2 payments go to BackToBlack. But they don't explain that in reality it makes it 2 upfront payments PLUS the 60 monthly payments into the IVA.

So you end up forking out several £100s just to find out if your IVA will get accepted. Heads they win, tails they don't lose. What a rip-off! Do other IP's do this?

[flumpy dog]

hey bens

i think you'lle find the majority of ips want whats best for the client and not a case of 'selling' an iva.
unfortunately there is a small minority and again like you said 'call centres' of companies who trade in this way but from what ive seen on here they are in a minority and the majority of ips do care about their clients-i know mine does [:)]

[MelanieGiles]

I've answered this on your other post. How did you find this company in the first place as a matter of interest?

[ben87]

I've answered this on your other post. How did you find this company in the first place as a matter of interest?

Basically it was a cold call from their BackToBlack call centre.

Some friends of mine are in a bigger financial mess than me and they got cold called. They mentioned it to me because they knew I was in the same boat, and I sat in when the salesman rep. visited them. They fell for the upfront payment con too, but they had no money in their account and so luckily for them they didn't lose out.

In my case I'd left most of my final two months wages (about a grand) in my 'basic' bank account. My other account still had a bit of overdraft left and I was living on that for a few weeks. I was in the process of moving to a cheaper flat and needed that money for the advance rent and deposit. I didn't even know the £750 had gone until a couple of months afterwards. I had to borrow most of the money for the new rent and deposit. [:(!]

[kallis3]

Was the call centre based in the UK? If so, I was under the impression that they couldn't cold call from here.