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[Whitegold]

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[Skippy]

I'm sorry that things didn't start off too well for you, but I'm glad it all worked out well in the end. Spectrum were on Watchdog a while back so I wouldn't recommend them to anyone.

I would advise anyone considering an IVA to speak to 2 or 3 different companies before making any decision.



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 experts]

Hello Whitegold thanks for sharing your experience so others can benefit.

To be honest I think it is appauling that your IVA process took 9 months. The usual time from when the paperwork is sent to the I.P is usually 4-8 weeks.



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

[MelanieGiles]

Are you saying that Spectrum introduced you to Wilson Phillips, or that you got fed up with them and approached Wilson Phillips directly?

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

[Adam Davies]

Hi
We have said it before on this forum,if you make payments before your IVA is agreed make sure that you know what they are for and what happens to the money if the IVA is rejected and get this in writing.
Four months payment for an introducer is simply too much and,just as importantly,time wasted

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

[Cybus]

Whitegold ...

Are you saying that you were on a debt management plan with Spectrum (I do not know who they are. My quick search with Google has revealed some very interesting reading though, particularly the appearance on Watchdog re Debt Management)

Spectrum have then referred you on to Wilson Philips, who have now put you in to an IVA?

I am attempting to ascertain if Spectrum have put you on a debt management plan and if so, what has happened to the funds you have paid to them? Reading between the lines, Spectrum have made a quick buck from debt management before referring you to Wilson Philips, which they should have done in the first place.



Tell it like it is.

[Andrew Graveson]

I know of someone within the industry who organised a "mystery shopping" visit by Spectrum's rep to one of their employee's home.

Interesting report came out of that one; and that's probably enough said. This was a couple of years ago.

I understand that they're now operating under a different trading name. From the call I took from one of their team before Xmas (looking for new employment) I understand that they may have been a little quiet recently, at least in this part of the world.

Andrew Graveson
Mortgage Broker & Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk

[Cybus]

I was just thinking about the post I made from last night and here you are with a post with the answers. That's good timing.

Can you check the terms of your engagement letter, proposal and any modifications that say exactly how funds paid prior to the meeting are to be treated. If you have a copy of the Nominee's Report available, it would also be worth checking that too - there is a requirement of the Nominee to divulge how much and to whom he has paid any funds for assistance in setting up your IVA.

Does the propsal breakdown how many contributions you are to make and at what level those contributions are to be paid? Under normal circumstances, if it says 60 contributions then I would expect those 4 you have already paid to be taken in to consideration and so effectively you are only required to pay a further 54.

I would have expected that £1,100 to be introduced in to your arrangement for the benefit of your creditors.

When the first annual report is forwarded to you, I would check the receipts and payments account and ascertain if that £1,100 is included in the amount paid.

After checking the documents suggested above you are not satified you have adequate answers as to where that £1,100 is or has been utilised, contact Wilson Philips immediately and ask the question.

Tell it like it is.

[Skippy]

I paid 2 payments equivalent to my IVA payments to Thomas Charles who then passed my case onto Accuma. It was made clear from the start that the payments would not form part of the IVA, but if I remember rightly the money would have been refunded if the IVA wasn't accepted.

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/

[trog]

Someone who i was speaking too said they were in a iva with spectrum.

After readiong what i know on here they are on a DMP which not all creditors have accepted.

I think they had to make 3 payments of £400 each and pay into there DMP £1 for each creditor but also pay the same to spectrum. Its seems like a rip off to me as still keep getting letters from who the debt has been sold off too.

They seem happy with it but its definetly not a iva

[goulda]

I paid Spectrum 4 monthly payments who passed me on to Wlison Phillips who refused to act for me as thay said I had gambling debts. I then contacted Debtmatters and have an IVA with them. I don't think I would recomend Debtmatters to anyone as after reading postings on this forum other companies seem more provisional. My biggest gripe (hindsight is a wonderful word) is my first I/E involved several allowances estimated by Debtmatters to ensure my surplus income totalled £700 per month.I went along with this and signed the necessary paperwork because at the time I was none the wiser. The second year my monthly payment increased to £757 per month, again, they used estimated figures and allowances.
If i am honest I am dreading my next review in May

A. G. Gould

[goulda]

Carrying on from above this year I am going to calculate my exact expenditure and average basic monthly income wife send in these figures and see what happens

A. G. Gould

[Beechy]

Hi goulda,
When your last review was done I take it that you did not supply the I and E figures?.

With regard to Spectrum I find this deplorable that you handed over your hard earned cash only to be told that you could not proceed with and then to go to another company and have your IVA approved.

Why did Wilson Phillps refuse the case?


Dave Beech

[goulda]

Again, I was naive some figures were accurate but others Debtmatters advised me to use from the previous year ie, housekeeping,petrol,contingency,clothes.

I was refused help because bank statements indicated I was gambling and getting into debt. I was only betting smalltime and some items on the bank statement was credit

A. G. Gould

[james.c]

when i applied for an iva, i went to thomas charles, were i had to pay them two months fees to show that I could manage the payments - they did say if the IVA was not succesfull the money would be returned. Then they passed me on to accuma who finished everything of. the teo payemnts mad to thomas charles did not go in to my IVA.

Questions -

1 - what happened to that money, was it just to pay thomas charles ?

2 - If I had known better should i have gone direct to accuma and not had to pay these two months?

no matter how bad money gets, theirs stll alot more important things in life