thanks, with regards to Micheal peoples reply about my credit file, well as you should now an IVA stays on a credit file for 5-6 also so there is no differance in going bankrupt as its the same thing on paper, you are still listed on the register and rightly so. please dont give out false info it can be very damaging to those who dont know.
There is no need to be rude about Tina, or to use capital letters in your posting which is classed as shouting in internet terms and unecessary. Tina answered your query fairly, and in the spirit of the way any professional poster would have attended to your posting.
Tobeornot, I don't understand why you are posting on the forum as you are disagreeing with most of the advice given by the professionals, and being rude in your answers.
MelanieGiles wrote:
There can be no excuse for that - what onearth are they doing with your money?
It's a good question. Last year only 3 of 10/12 creditors had even made a claim. I know in the terms of the Grant Thornton variation it gave creditors about 6 months to claim or to lose their rights.
My new annual docs should be received in about 2/3 months so we shall see if any didn't bother and IF they have actually paid anything to my creditors yet.
skippy please, if you read Melanies post and animals eyes above, then you will see there is a problem with some IVA companies, and all i was pointing out is not to make assumptions to people,
I'm not disputing that there is a problem with some companies.
You have to be aware that it's very difficult to give specific advice on a public forum as we don't have the full facts of your case. Only your IP can do that.
tobeornot wrote:
SOUNDS TO ME AS YOU ALL AGREE THAT IVA COMPANIES MAKE A HELL OF A LOT OF MONEY FROM DEBT! AMAZING TIMES IN THE WORLD -- HA HAH H MUST LAUGH!
Are quite a big assumtions from you! IP fees are relevant to their professional value, £7000 is a gross amount I'm sure when you take off overheads (staff, premises, stationery, energy costs,travel etc.) relatively they will make very little per IVA bearing in mind some are very complex.
I agree with you Skippy, I also cant understand why some people post here if they dont like what they hear, I saw nothing misleading from the IP's or their representatives, who get paid nothing at all for their time on the forum.
i'll be honest and say I didn't even consider the fees when I set up my IVA with an IP, all I wanted was the security it offered and me and in my mind if my creditors were happy and voted positively then that was ok by me xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
The amount i pay each month is dictated by my I & E statement. As to the split of that amount, that for the IP and my creditors to argue about and when it gets paid to the creditors is not my concern. It was all in my proposal document which i read before signing. I'm not entirely sure what to be or not to be is on about. If they are seriously concerned about giving the creditors the best possible deal i can't understand why they are going on about BR...as far as i can tell BR generally gives a worse outcome for the creditors.
