We posted to each over the weekend regarding Debt Advice Link who is acting for us. You suggested that I asked them who are IP is going to be and if it was through them or an independent company.
I asked them the question this morning, but they would not commit to me who they use, and just quoted that they usually use the same people and that I was not to worry about this at this stage. I thought it was a bit strange, and when I asked again was told that an IP would not be instructed until late July early August. The stage that we are currently at is the letters have been sent out to our creditors, so we were advised that some of the calls and letters should stop. - hopefully!!!.
As regards to the £320 fee that we have paid, this is for administration costs, which if the IVA does not get accepted is either returned to us or put into a DMP.
Does this sound right??.
Thanks
Sam
Last edited by Hammie1 on Mon Jun 28, 2010 8:38 pm, edited 1 time in total.
F&F accepted 12/8/13 - Awaiting Completion Certificate
Thanks to everyone for your support. Could'nt have done it without you.
Some firms charge fees up front, some don't. However in this case it is reassuring to know that the fees are returnable if the IVA isn't accepted there are some very unscrupulous firms out there that charge the earth and the fees are non refundable. I went to Melanie direct so can't comment whether this not knowing your IP is normal practice in some firms or not. As other posters on here have said in the past it's always better to speak to 2 or 3 companies before committing yourself but by the sounds of it you're already past that stage. I'm sure an expert will be along shortly to give better advice.
It sounds to me as if they are a packaging company who will refer you to an IP firm of their choice - and probably one with whom they have a financial arrangement.
No harm in this type of arrangement, so long as it gets you where you want to be at the end of the day - but I do find it strange that they are reluctant to share the identity of said firm with you. The choice of IP firm is a personal one - and you have to spend perhaps the next five years of your life working with these people, so I would have thought it wise to be able to do some research in advance.
If you do feel uncomfortable with the current arrangement, there is nothing to stop you approaching an IP firm directly - and good ones will contact your creditors straight away to advise them of their instructions.
I think to talk to another 2 or 3 potential IP's wouldn't hurt and the professionals who post on the forum come highly recommended and a list of Companies and some reviews of these can be found at www.iva.com
Get some case specific advice on all debt solutions, if you're happy with your original choice after this then go with them but if you're not happy now then I would suggest you at least talk to another couple. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Many thanks for your responses. You are right Jon we did commit, unfortunately before we found this forum. I have found the forum very useful, but seem to concentrate on the negatives rather than the positves, guess I am that sort of person.... DAL have been very helpful and always reply to me via email or calls, but I was just getting concerned not knowing who our IP was, after reading some of the posts on here, perhaps I am jumping the gun here a little, and the process is not that quick??
Does it also sound right the stages that we are currently at, i.e, DAL have written to our creditors advising them of our situation. What's the next step??
Thanks
Sam
F&F accepted 12/8/13 - Awaiting Completion Certificate
Thanks to everyone for your support. Could'nt have done it without you.
Sounds about right, you would certainly have cause for concern if you had paid your money and creditors had not been informed of the situation. DAL will now be awaiting confirmation of exact balances etc before preparing a case to forward to whoever it is that they use to look at IVA's.
As pointed out previously, nothing wrong with that if you are happy with it, but the net effect may be that you contribute 62 or 63 payments from start to finish when you may have had to only contribute 60, so research is vital in the initial stages.
Good luck and let us know how you get on.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
Thanks for you reply. What sort of things are put in the letters to the creditors, is it just advising them that they are acting on our behalf and asking for a settlement figure, as I was hoping that the calls and letters would stop coming through. Also DAL have still advised us to keep making token payments to all creditors of either £1 or £5. I haven't seen any comments from other posters on here saying that they have also done this??.
Thanks
Sam
F&F accepted 12/8/13 - Awaiting Completion Certificate
Thanks to everyone for your support. Could'nt have done it without you.
Hi
I never made any token payments and advise clients not to. It will have no affect on the outcome of your IVA proposal. However it is your choice at the end of the day.
Good luck with your proposal
Regards
I did think that was a bit strange to be making these token payments, and to by honest if it's not going to affect my proposal I would rather not. I normally make payments via automated services, but when I go through now the numbers transfer me to a customer service assistant, so would rather give up with that one now.!!!.
I will stop making the payments.
Regards
Sam
F&F accepted 12/8/13 - Awaiting Completion Certificate
Thanks to everyone for your support. Could'nt have done it without you.
Some people make token payments, some don't. I didn't and got my IVA approved.
You can write to your creditors explaining what is happening, ask for total amounts owed, not settlement figures, and telling them you will only deal via the normal post.
I'm afraid the calls and letters won't stop though.
It's not too late to change your company. You don't seem 100% happy with them.
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
Thank you. I am happy with the Company, just really worried as never done anything like this before, and like many other posters on here, never missed payments on anything, so just trying to do the right thing.
I haven'nt wirtten to any of our creditors, as DAL have advised that is what they are for. I am not assuming this is what we are paying for, and as Andy suggests we will probably end up paying 62/63 payments, rather than the normal 60. When creditors call we have now been advised to tell them that we have a third party acting on our behalf and we will not be accepting any further calls, and all letters received would be forwarded to DAL, and if needed give out DAL's details.
Thanks
Sam
F&F accepted 12/8/13 - Awaiting Completion Certificate
Thanks to everyone for your support. Could'nt have done it without you.
You will be paying for them to introduce you to an IP and do the initial legwork. You don't have to do that as there are companies where you deal with the IP straightaway.
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 have to say that the arrangement with this provider does seem a little odd - but if you are happy with what they are doing for you then you must have made the right decision. I do hope that is all works out for you in the long run.