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Daveyboi

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Post by Daveyboi » Tue May 25, 2010 11:27 pm
I just researched 2009 using cccs statistics and they claim the average write off they found for the year was 57%. Hey if people are getting accepted for IVA's as low as 24p in the £ as you stated above then good luck to them just from personal experience and posts made on here creditors seem to want a lot more than that back. Apreciate its based on your personal I&E of course.
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MelanieGiles

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Post by MelanieGiles » Tue May 25, 2010 11:32 pm
For the life of me I do not know where those statistics come from - but I can assure you that they are totally incorrect. Perhaps the CCCS representative who posts on the forum could enlighten us. I rely on information published by The Insolvency Exchange who see almost every IVA that is put forward and keep statistics - they say that the average return is around 26p in the £, but in my own firm we generally work around an average of 35p - so as you can see the figures do possibly vary from firm to firm, an perhaps CCCS are including DMPs within theirs.

I regularly get IVAs accepted at around 15p in the £, and earlier this year I had 2p in the £ accepted - albeit there were special circumstances surrounding that particular case.
Regards, Melanie Giles, Insolvency Practitioner
 
 

Daveyboi

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Post by Daveyboi » Tue May 25, 2010 11:38 pm
2p in the £ good job there Mel well done. When you have put forward proposals towards the lower return end of the scale have you not personally found the expenditure accepted by the creditors to be on the lower side than a higher return? Reason I ask is because that was CCCS's reason for having scales to enable low income debtors to also benefit from being in an IVA for example using all high end expenditure might actually swallow up ALL of the disposable income altogether.
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MelanieGiles

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Post by MelanieGiles » Wed May 26, 2010 12:32 am
No. I generally find that most of my clients require the upper scales of the CCCS guidelines and I rarely encounter problems from the creditors or the voting representatives.
Regards, Melanie Giles, Insolvency Practitioner
 
 

Daveyboi

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Post by Daveyboi » Wed May 26, 2010 1:24 am
Sounds like I should have gone through you Mel, oh well lesson to be learned don't jump at the first solution, :). I am glad not everyone is being forced down overly hard budgets whilst in IVA'S
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Wizzzard

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Post by Wizzzard » Wed May 26, 2010 7:53 am
I've found BE to be hard to deal with and it is impossible to get the lofty heights of actually speaking to an IP, (who has of course now left an moved on to pastures new.) What will happen when Mrs Wizz retires in December I do not know, but when I informed them they said contact them when it happens which to me seems leaving it a little late.
The best psychological health comes from admitting your faults and recognizing they're caused by someone else.
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kallis3

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Post by kallis3 » Wed May 26, 2010 8:21 am
We shall have similar problems at the end of next year Ray when hubby goes onto state pension rather than the benefits he gets now. We shall take a hit in the pocket and will need to sort it out.

I think it is something that should be looked at now so that whatever is sorted can be in place beforehand.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
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Blair Endersby

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Post by Blair Endersby » Wed May 26, 2010 7:09 pm
Hi Leese

We are currently reviewing your file, and the matter has been escalated.

Kind regards

Blair Endersby
 
 

Blair Endersby

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Post by Blair Endersby » Wed May 26, 2010 7:10 pm
Hi Wizzzard

Please forward your customer reference and contact details to the below email address, and I will review your file.

Kind regards

Blair Endersby
 
 

kallis3

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Post by kallis3 » Wed May 26, 2010 7:13 pm
Hope it works out for you both.

Keep us posted.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
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Shining

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Post by Shining » Wed May 26, 2010 8:08 pm
I hope it works out for you and it's good to have BE posting on the forum so they can escalate their clients to get them some reassurance. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Julie

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Post by Julie » Wed May 26, 2010 8:28 pm
Glad that BE has reacted to the posts. Good luck Leese and Wizz xx
 
 

MrsKnight

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Post by MrsKnight » Thu May 27, 2010 9:37 am
Glad that BE picked up on this also.
N good luck Leese n Wizzard from me too.
Hope you get someone as good as my account manager whom I last spoke too. He was brilliant.

Let us know how you get on.
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X



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CCCS Counsellor

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Post by CCCS Counsellor » Thu May 27, 2010 10:46 am
MelanieGiles wrote:

For the life of me I do not know where those statistics come from - but I can assure you that they are totally incorrect. Perhaps the CCCS representative who posts on the forum could enlighten us. I rely on information published by The Insolvency Exchange who see almost every IVA that is put forward and keep statistics - they say that the average return is around 26p in the £, but in my own firm we generally work around an average of 35p - so as you can see the figures do possibly vary from firm to firm, an perhaps CCCS are including DMPs within theirs.

I regularly get IVAs accepted at around 15p in the £, and earlier this year I had 2p in the £ accepted - albeit there were special circumstances surrounding that particular case.

Hi Melanie,

I have just been trying to find the information Dave.sr is referring to and I believe it could be an old press release for August 2009. I have attached a link to the release for you to read

http://www.cccs.co.uk/Portals/0/Documen ... IJS-MH.pdf

The press article does not include DMP figures. The statistics you are referring to are unrelated.

Regards

Sarah
CCCS is a registered charity. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and their possible implications but not make them for you.
 
 

MelanieGiles

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Post by MelanieGiles » Thu May 27, 2010 11:20 am
So these are your own statistics rather than industry generally? All I can say is you have a remarkably high average dividend rate compared to the average - so very well done!
Regards, Melanie Giles, Insolvency Practitioner
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