I dont think theres much difference in being BR or in an IVA already to be honest. What does bother me is that certain IVA firms make BR sound like a terrible option when quite clearly it is often the best option available to help with debts.
As Skippy says the story is hardly going to come as a shocker to anyone on the forums.
Surely the government has to deal with this issue?
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
I think everyone has to agree to disagree at times. Personally I have always found the Co-op great, but likewise I'm not overly impressed with Halifax.
There will always be individual preferences, at the end of the day its all about service received. i agree with PD, there isn't much difference to the outlook on IVA / BR...they tend to get grouped together.
As for Skippy " jumping" on the post....Skippy has been a valued member of this forum for a long time and gives clear unbiased adviced. That someone doesn't agree with your comments should not be looked upon as "jumping" on the post.
This is a forum that will have differing opinions, as long as they are put forward in a non offensive way then there's no problem.
I am strangly puzzled here?? If Bankruptcy is regarded the same as IVA from the Banks point of view, then why do people tend to prefer to be in an IVA that takes longer to finish than a one year discharged Bankruptcy??
If this website is to give IVA support it seems to suggest it should make the benefits of been in an IVA stand out.Now this is not hapening is it?
Last edited by hellodolly on Tue Sep 08, 2009 1:59 pm, edited 1 time in total.
The main difference is that in an IVA you make an effort to repay as much of the debt as you possible can. I am not one for morals but a lot of people strongly believe that if they borrowed the money they should pay it back and therefore an IVA is more suited.
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Thats all you have to say to sell the IVA over Bankruptcy?? You have to do better than that?
I can honestly tell you, that Banks used not to consider IVA and BR in the same boat! But unfortunately they are now lumping the two together.More people need to go bankrupt to save themselve.You would put yourself in a 5 yr IVA,providing you don't lose your job and breach it, and live on pittance rather than be discharged in one year in BR? How Honorable?
How many people that should be BR are on IVA? Too many.
I'm sorry you're puzzled...I'll try and explain in simple terms....Being in an IVA is not suitable for everyone, likewise neither is BR. The forum advises on the most suitable solution for those who need it. Hopefully that will be an IVA as opposed to BR as in an IVA creditors will get some money repaid. Most people also have a moral tendency to pay back what they borrowed.
I maybe interpreting this wrong but you and a couple other posters ( possibly one and the same) seem intent on being negative about the forum. That is such a shame as it really does help those who need it. Hopefully I am wrong in my interpretaion and you too will see the benefits of the forum [;)]
hellodolly wrote:
Thats all you have to say to sell the IVA over Bankruptcy?? You have to do better than that?
I can honestly tell you, that Banks used not to consider IVA and BR in the same boat! But unfortunately they are now lumping the two together.More people need to go bankrupt to save themselve.You would put yourself in a 5 yr IVA,providing you don't lose your job and breach it, and live on pittance rather than be discharged in one year in BR? How Honorable?
How many people that should be BR are on IVA? Too many.
I am not here to sell anything. I use this forum to help and advise others,and support people,and direct them to sources of help so they can decide what the best course of action is.
And I totally agree that there are many people who are in IVA's that could easily have gone bankrupt had they choosen to do so,just as there as hundreds on neverending DMPS,when clearly the debts will never get repaid in such schemes(where contributions to creditors often are less than the cost to administer the plan).
The banks decision to lump IVA's and BR's into the same boat is a very valid point and is clearly unfair practice but theres not a lot you can do about that is there??
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Swansea girl, I am asking what the benefits are of an IVA over BR as the banks lump the two as the same in their reckoning. You have not answer
ed the question. You are speaking to someone who use to work in credit referencing....not another hapless soul.
And as for IVA giving back more to creditors then why do IVA rejections occur? Why does MBNA take the risk of making someone BR when all they have to do is to accept the IVA? Its better than BR and get nothing? I will give you a chance to anwer as a FORUM EXPERT?
Platicraft, I read you answer, thats more like it! Its not about been NEGATIVE,its about Been critical at wrong doings and been realistic.We should not be advertising IVAs here when BR is better and believe you me CR agencies don't see your IVA any worse than BR.
Last edited by hellodolly on Tue Sep 08, 2009 2:29 pm, edited 1 time in total.
After re-reading your post I am convinced you are the same poster who has been negative on other posts. For that reason I am not going to enter into a conversation with you as I believe my advice is better spent on those who need and appreciate it.
It is such a shame that you want to use your energy in such a negative way...that is your perrogative.
