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mark424

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Post by mark424 » Mon Oct 15, 2018 8:19 pm
My Iva company ill advised me on what my options were and failed to tell me that i was better off in another way and was told they should have never put me in an iva therefore i have cancelled my iva and they have told me this could take 6 months to do is this right as I can't enter into my new agreement that I should have been in from start till they cancel and 6 months seems very long

kallis3

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Post by kallis3 » Mon Oct 15, 2018 8:35 pm
Which company was this? You should have had all options explained to you at the start.
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.
http://kallis3.blogs.iva.co.uk

Foggy

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Post by Foggy » Tue Oct 16, 2018 6:41 am
Six months is the standard "backstop" date quoted by all firms. However, it often takes a lot less: Some firms do it within weeks and most in 2 or 3 months. A few do take 6 months or more!
Out of curiosity, what option are you now going for ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

SteveUK

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Post by SteveUK » Tue Oct 16, 2018 7:12 am
Curious to know.

Who told you that you shouldn't be in an IVA?

If it was the company that are offering a 'better solution' I would be a bit suspicious.

Lisa Thomas

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Post by Lisa Thomas » Tue Oct 16, 2018 8:32 am
By 'cancelling' your IVA I presume you are failing it?

Usually when the IP writes to you initially they confirm the reason why the IVA is the better solution and why alternative options have been rejected.

Check the original correspondence you had with them.

Our of interest what procedure are you going to try instead?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

mark424

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Post by mark424 » Wed Oct 24, 2018 6:54 am
Thank you all for reply the company was aperture and they have been useless from start to finish I wasn't failing the iva I just had a friend who done a dro and was informed of this so I checked with an advisor and it seems this was the best option for me from the start that I wasn't made aware of as I didn't even no they existed untill a friend told me

Lisa Thomas

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Post by Lisa Thomas » Wed Oct 24, 2018 8:24 am
A DRO is very similar to Bankruptcy.

Did the criteria for a DRO fit your circumstances at the time you applied for an IVA?

See my quick video for the details:

https://youtu.be/BtgpEX5mNDg

Is there a reason you decided against Bankruptcy or was this option never explored?

You say you have cancelled your IVA in your original post - once the IVA is in place the only way to do that, without a variation or completion, is failure of it.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

Foggy

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Post by Foggy » Wed Oct 24, 2018 9:26 am
A DRO is a relatively new solution and the criteria for getting one has very recently changed, maybe it wasn't on the cards at that time.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

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Post by kallis3 » Wed Oct 24, 2018 9:45 am
Do you own your own house? If so a DRO is not for you and how much are your total debts?
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.
http://kallis3.blogs.iva.co.uk
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