Hello, So i am in just shy of 10k debt, coucil tax, benifit overpayment and some water/gas. i curretly have at AEO for the benifit overpayment at £150 a month, i pay £150 towards two of the other debts but now the water debt has applied for a second AEO and i simply cannot afford £450 and that doenst even cover all of the debts, a couple will still be chasing me, i simply cannot afford it and as far as i can see my options are a IVA or bankruptcy, i called credditfix as they had mostly good reviews on trustpilot. the guy on the phone was helpfull, went through all of my debt, send documents of debt proof and income etc and i have an iva proposal from them in my inbox waiting to be signed but im not sure if i should, the fees seme prety standard etc what im wondering about is that the guy on nthe phone literally just made me a budget and sent me it which is nothing like my actual budget and specifically told me to say no when asked about any AEO by someone that called for a "confirmation call" and went over the whole thing, my question is why would he say that being from the same company and why would they say it at all, what would me signing this agreement mean? im concerned, is this company using bad practices or is this kind of thing normal, any help would be greatly appreciated thank you.
Just completed IVa with Creditfix although didnt go with them from the outset...my original company changed hands and customers transferred (you cant usually change mid-IVA).
They are a legit company however so big that communication is poor and one team
have no idea what another is doing.
You have to have wits about you with Creditfix!
My pieceof advice is do not sign ANYTHING if you are mot 100% happy with it. Especially an income/expenditure.
What you state as your I&E now will set the standard for your IVA moving forwards. It has got to be right from the start. It has got to be realistic and affordable and reflect your true expenditure and include your honest day to day spending, family standard allowances and existing bills (not credit stuff).
If its not dont sign it. Make sure its righy.
Creditfix sent me a completely random I&E once which was so far off my true spend. I just corrected it with evidence and sent it back. They dont like conflict and cave easily when challenged.
This is your IVA not theres.
This is your life for possibly 5-6 years. Not theres. You have to be certain you can live with the budget so go through it and make it reflect you and your family. The prep work now will be worth it. Hope that helps.
I agree with Foggy - don't put yourself in a position whereby it could cause you trouble.
I would try smaller firm.
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
thanks, I have seen that stepchange now do IVA's and i know they are honest and fair, would much rather do it through a charitable organization than one out for proffit from me, i will be cancelling and not signing the proposal as i relly dont like the shady stuff going on here, i want to be honest with it and get the situation sorted propperly, would stepchange be a good route to go down? or have people had bad experiences with them. thanks again
Drex89 wrote:thanks, I have seen that stepchange now do IVA's and i know they are honest and fair, would much rather do it through a charitable organization than one out for proffit from me, i will be cancelling and not signing the proposal as i relly dont like the shady stuff going on here, i want to be honest with it and get the situation sorted propperly, would stepchange be a good route to go down? or have people had bad experiences with them. thanks again
Stepchange actually make the same profit from IVA's as every other firm. They only subsidise DMP and advice work, which is paid for by donations from creditors thmselves.
They do sometimes farm out applications to other firms, but, if they keep you "in House", they run a reasonably painless IVA, depending on circumstances. They were one of the firms I considered when I started --- but I found them to be overly "pushy" at the time --- however this was nearly a decade ago !
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