www.iva.co.uk

Hi there

Is it possible to transfer to another IVA company. I have read reviews about the company I am currently with and they weren't very good. I am in the very early stages, only just signed the authorisation form and in the process of filling our an application form. I want the best chances for my IVA to go through and from what the reviews, certain IVA's didn't go through because of small errors the company made. So far, my dealings with them have be ok. The thing is we only just started a debt management plan with them, and they contacted us to say an IVA might be a better option in the longe term.

Any advice would be greatly appreciated!

You could discuss your concerns with them ... it may be things they can improve on through your feedback.
Though if they are now recommending an IVA after previously suggesting and putting you into a Debt Mangaement Plan, I would not be having confidence in them. They ought to have recognised that an IVA was suitable for you before. Have you had a change in circumstances that you have made them aware of. You might want to try a cheeky approach and ask them why they have suddenly decided this. If they are suggesting this and there has been no change in your circumstances, then it would suggest you were given duff advice in the first place. Be cheeky and ask them, as a gesture of goodwill to refund the debt management fees they have been deducting from payments under the Debt Management plan and then you will consider the IVA option with them, using those funds as part payment of the first contribution in an IVA.

But in answer to your question, there should be no reason why you cannot change at this stage. Don't be afraid to shop around. But do disclose the DMP if you go elsewhere.

Thanks Cybus.

No change in our circumstances at all. I did call after reading your post to enquire about this and they used the phrase 'upon closer inspection'. And regarding the good will gesture, ahem..no chance. Will definately have shop around.

Thanks again. Will keep you posted.

Bear in mind that you have to spend the next five years of your life with this firm. If you have lost confidence now, things may only get worse when you are formally bound in to them. Why not get a couple of other opinions in the meantime from other insolvency practitioners.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hi Melanie

I have just filled out an iva enquiry form on your website.

Looking forward to your response.

It sounds as though you may already be familiar with the website iva.com
You can always post up your own review on that site, anonymously if you so wish.
They should have 'closer inspected' your file prior to suggesting that you enter into a debt management plan and certainly BEFORE you made any payments of any description to them!

I wholeheartedly agree with Cybus' comments!

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Ellexander,

Closer inspection means we have been caught out.

Good will gesture means,oh my God we have been caught out but do not want to admit,but will try and wriggle out of a ticky situation,before the customer a dim view of our original advce and hope that customer will not complain.

hara.

Hi Ellexander,

On this forum we always advise people to call at least 2 or 3 companies to seek out the best solution for their debt problems.

You are in a good position to do this because you are not lock in with a creditors meeting etc, once it gets to this stage and the IVA is approved it is virtually impossible to change IVA companies. So, shop around while you still can.

Best Regards. IVA Experts