Creditfix asked for extra money to deal with IVA's during COVID

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lifenoteasy

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Post by lifenoteasy » Tue Nov 10, 2020 2:06 pm
Back in May 2020 CF asked for an extra £86 from all creditors to help them deal with IVA's https://www.abcul.coop/blogs/cunews1/20 ... ent-iva-ab.

This would have led to a £7m cash injection (but not sure if it happened).

What was also highlighted was that they only have 5 Insolvency Practitioners who each deal with over 17000 case loads.

More information can be found here about how they are structured https://www.moneycheats.co.uk/post/cred ... ing-plates.

I would point out that all this information is in the public domain and the Association of British Credit Unions deliberately made their concerns public with their letter to the appropriate regulator https://higherlogicdownload.s3.amazonaw ... y_2020.pdf.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.

kallis3

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Post by kallis3 » Tue Nov 10, 2020 2:45 pm
No wonder they have problems and bad press on here.
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 Nov 10, 2020 3:37 pm
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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
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