Hi, I have only recently found your website and have found the questions posted interesting. We have got ourselves in a real mess so we thought that an IVA was the way out, so contacted a company and they went through the details and said that we are ideal criteris for an IVA. But having read some of your questions I am getting confused.
The company said that we could afford 350.00 per month and for them to contact our creditors they needed an standing order set up for this amount. We have since had this amount deducted from our bank account. today I have emailed to ask them that it's definately a IVA what is being strived for and not a DMP no answer as yet. Can you let me know if this is normal proceedure. I am very worried at this moment
That company, as far as I am aware, provide only DMP's. Therefore, it looks like you are on a Debt Management Programme and not an IVA. Certainly, if you have not been asked to provide documentary evidence such as wage slips, bank statements etc up to this point then that would definitely confirm it.
If an IVA is a more appropriate solution than a DMP then there is no need to enter into a DMP in the first place. You may, therefore, benefit form a second opinion or two. Visit www.iva.com and have a look around at IP firms and then go from there.
23+ years in debt advice
I do not post for anyone other than myself
It would not be a good idea to set up a standing order to anyone until you are aware of all your options and have decided on the best way forward for you. A quick chat on the phone does not constitute proper advice so you should certainly get another opinion before you pay out any money.
Hi and welcome to the forum, a great link provided above by Size 5, take a look at that and I would suggest contacting 2 or 3 companies for some FREE, impartial case specific advice. I would probably look at cancelling the Standing order until all was sorted to stop any more monies going from your account until things are clear where you are with 121debtsolutions.
All the best.
Our professionals who post on the forum also come highly recommended. xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
i contacted them and discussed the prospect of an IVA and he said that we had the right criteria for it and then I sent details of expenditure and salaries and he agreed on 350.00 he then said we needed to set up a standing order for this amount before he would contact the creditors. So no I did not know he was going to put me in DMP, I know I am a bit stupid. I wonder can I ask for my money back
I have since talked with Andy Davie and he's going to take on my case thank god there's someone who can explain it all to me.
You can definately ask for your money back if you have been misrepresented, and if Mr Davie is now looking after you you are in very safe hands and he is sure to find you a good IP firm to work with in due course.
Hi and welcome catswhiskas, i hope that you get this sorted out quickly and lay your mind to rest. The more you read about companies that do seem to pray on someone who is at their wits end etc does seem to be a common theme and people sign up to things because they just want peace of mind and be allowed to sleep at night, i hope that you do get some recompence CW and i know that if you have Andy sorting things out you couldn't be in better hands. Take care and be safe.
Om shanti, namesté, good luck to all who are embarking on the IVA journey, it isn't always an easy one but the outcome is the best.
IVA COMPLETED August 2012, received Completion certificate 18.4.13.