Just come across a link on Debt Camel yesterday around IVAs, linking to the insolvency service and a report about IVA completions - the thing that really caught my eye was the number of new cases registered in 2020, credit fix having 20,000 new IVAs, PayPlan just under 4000, StepChange just under 1100. I suppose StepChange only keep simple cases. Fascinating reading though. Wasn't sure if I can drop the link so won't do.
In other news, a cheque appeared through my door from HSBC group following reviews of their practices for people struggling - £100 before tax. Looking back they were the worst bank when I told them I was struggling, phone calls, voice messages, letters. Others just accepted my first contact and deferred payments for 2months.
The consistently high failure rates over the years was the interesting thing to note, especially when linked to the statement that the COVID-19 rules had possibly led to a reduction in failure rates.
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.
