hi the company i am with is accuma havent signed anything yet just worried incase i pay the money and i am declined an i am in a worse state can you help thanks
I was worried about the same thing but the company I went with didnt take any money up front my arranging my IVA. I am with money debt and credit who provided an excellant very fast service (3 WKS START TO ACCEPTANCE) and was what i was looking for, THAT said I have been reading on here for some time now and the advice I see written from Mel and other IP's their expertise shines thru and would definatly have a chat to them.
I may well be very wrong here but I didnt think you are tied to the company until your IVA is accepted.
I hope my ramblings may help in some way
Back to square one but what dunt kill you makes you stronger!!
Hi there
Most companies don't charge upfront fees. It is worth checking with Accuma whether they actually required a payment before putting the proposal forward to your creditors. Generally, if your proposal is not accepted, you will not be charged for it.
hi thank s for your kind response i no i have to do someting as i cant carry on using credit to live off its just very frigtening wat to do
fingerscrossed wrote:
Hi,
I was worried about the same thing but the company I went with didnt take any money up front my arranging my IVA. I am with money debt and credit who provided an excellant very fast service (3 WKS START TO ACCEPTANCE) and was what i was looking for, THAT said I have been reading on here for some time now and the advice I see written from Mel and other IP's their expertise shines thru and would definatly have a chat to them.
I may well be very wrong here but I didnt think you are tied to the company until your IVA is accepted.
hi and thanks for your help they said when i sign i pay them 260 each month until my iva is accepted but i dont understand why if nothing has been accepted yet
Declan @ Debt Free Direct wrote:
Hi there
Most companies don't charge upfront fees. It is worth checking with Accuma whether they actually required a payment before putting the proposal forward to your creditors. Generally, if your proposal is not accepted, you will not be charged for it.
we had to do the same when we first entered into our IVA. We were told it showed the creditors we were serious about paying the debt back and made it easier to get approval when it came to the creditors meeting.
We'd have got the money back if it hadn't been improved. Luckily it was approved and the money we paid in has just been added into the pot.
I personally wouldnt of done that nor would I do it now. Why dont you have a chat to Declan above and see if he can help you.
It is very frightening once you pull your head out of the sand and I posted many times on here with my concerns and the whole range of emotions that occur when you start this journey but had my worries and concerned answered and found that most others have felt the same.
Wish you luck in finding a solution
Back to square one but what dunt kill you makes you stronger!!
Its definitely worth having a chat with Accuma to get a full understanding of your agreement. You have every right to know exactly what your £260 per month is being used for and what will happen if your IVA is not accepted. Should your IVA be accepted, is the total amount you have been paying up to the point that your IVA has been accepted going to be included as payments already made?
I would strongly urge you to ask them these questions.
On a slightly different note why are Accuma still taking on new business if they have decided to sell all their current IVA business to Grant Thornton?
Did you go direct to Accuma or via someone like Thomas Charles.. ?
It should not take long to draft a proposal so paying for months in advance seems odd. The 6-8 period for drafting an IVA would normally allow clients a chance to clear minor mortgage arrears, carry out car repairs or gather a small contingency. If the debt company is being paid in advance of drafting the documents they have no incentive to be quick about it.
Melanie asked for the equivelant of a months payment to be sent with my propsal to show the creditors I am committed to the IVA and repaying the debts. But she was very explicit in telling me that this is put on account and if the IVA is not accepted I get it back. This is HOW it should be done. So I agree, talk to the company and get a very detailed description of what the money is for, and what happens if........
If they say it is their fees and you dont get it back if declined, I would personally say Bye Bye and talk to someone else
There are 10 kinds of people that understand binary, those that do and those that don't
I think Accuma are still taking on new IVAs - perhaps in a limited capacity. But I am suprised that they would be taking money from you on an upfront basis. This will need to be fully disclosed within your IVA proposal as funds on hand.
I wouldn't pay anything up front. what if they accept but on a varied amount? I paid nothing until my iva was accepted then I picked what day of the month my payments went out. At least then i knew where I was and how much had been paid directly into my iva.
