Did you know that this forum has nearly 30,000 registered users, who currently post 150 questions / replies in around 15 topice daily? That's a fair few people in / thinking about / interested in debt and debt solutions, not forgetting the many guests who do not sign up or interact, but who read the posts regularly and get help and support from us all.
We are all at the "sharp end" of debt solutions in general and IVAs in particular and we could be a force to be reckoned with !
The industry is undergoing a fair few changes of late, with new kids on the block as well as old stalwarts leaving. My view of things (bit of a conspiracy theory, but looking more like the reality of the situation every day) is that the IVA world is being, for want of a better phrase, "taken over" by a few "big boys". These big players can, eventually, control the IVA market and the IVA process itself, with support from the creditors. This would leave us in a very weak position with terms and conditions being unfairly interpreted or re-written in creditors favour.
The IVA Industry has it's own "IVA Forum" ... a panel of industry experts, generally accountants and IPs .. who meet to review and revise the commony used Protocols. We, IVA users, should have a voice too -- to put our point of view and voice our concerns.
We need to get together and form a lobbying group, rais eawareness of our concerns and present petitons to the relevant groups and authorities.
Issues range from the issue of completion certificates (Should this be tightened to a defined timescale ? Should IP's canvass for final claims in advance of the final payment date with a set 28 days for response or lose the claim deadline?), though Equity Release (should proposals have to embed the calculation in the agreement, using the Protocol examples?), to Industry Regulation ( Should a debtor be "locked in" with no recourse to mediation or rescue from independant regulators? Should there not be a body who can intervene in disputes and actually get settlement ? ).
What bugs you ? What can we do about it ? Would you join a lobbying group ?
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
Nice one Foggy! I'd join a lobbying group - we do need further help as a lot of our original IP's and experts are long gone. We have a few smaller companies who post, and also Vincent Bond who sponsor this site. We need to have a voice!!
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
I would also be happy to be involved in such discussions. If there are ways in which we can improve our service to clients it can only be a good thing. However there are times when things are beyond the control of IP firms and in these instances better communication from us to our clients would no doubt also be useful. I find a major issue from clients is the lack of explanation or information and if correct details with proper reasons and timescales are provided, then clients are happier and less likely to complain.
I completely agree - it would be great to have some official mechanism to input client concerns - and let's face it a number of themes that Foggy has mentioned are very common questions/complaints on the Forum. I suspect one reason the Forum has so many users is that many in an IVA struggle to get answers to questions asked of their own IP's so look for expert advice from IP's and others here who post replies. The often vulnerable consumers in the IVA do I think need a voice and a context in which to lobby for change.
Its unfortunate that even after a decade of being involved in debt matters that communication between those in an iva and those running them still seems a big issue. It takes seconds to fire an email off and communication really is a key part of a smooth running debt solution.
Anything that improves things is great news.
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.