Melanie.
How far into your cheek is your tongue stuck?
I love the comment about speaking to the IP at Payplan or the CCCS. If iamfubb2 manages that he should forget about an IVA and do the EuroMillions instead.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles
I am suprised that you have been asked to pay two payments up front by commercial firms of IPs. This is certainly not necessary as many firms will do all of the work required to present an IVA proposal without payment until the proposals are ready to be presented to creditors or have been actually accepted.
Of the two firms you have chosen, can I suggest that you ask to speak directly to the insolvency practitioners who would represent you in the event that you decided on an IVA. You may find that you get better clarity of the options available to you, but speaking to the horse's mouth. It is clear from your posting that you are somewhat confused about the mechanics of both options, and it is therefore important that you get good, direct professonal advice in arriving at your ultimate decision.
I would be glad to post or send you the "proposal" that i got from EDS or would that be illegal? Just been reading it again and in the very small print at the bottom of the letter is reads/ Note Your Inital set up fee is not sent to your creditors
And yes i am confused by the differing sorts of advice i have been getting but , then again it is a very complex process whatever anyone decides to undertake
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Michael Peoples
Melanie.
How far into your cheek is your tongue stuck?
I love the comment about speaking to the IP at Payplan or the CCCS. If iamfubb2 manages that he should forget about an IVA and do the EuroMillions instead.
The odds are lower!
Are you saying that yours and other IP's are more accessible? Seems to be a definite downer on CCCS and Paylan amongst other IVA firms.
This seems more like a DMP proposal than one for an IVA. Set up fees are quite common in DMPs, although they may not be with us for ever as the government are keenly looking at this matter at present.
As I have said, regardless of the firm you choose to represent you, making the right decision about the correct solution must be paramount.
The CCCS have only one IP as far as I am aware and deal with tens of thousands of calls. I am not sure how many Payplan have but they also receive a huge number of calls from people referred by the banks. We have four IPs and do about 70-80 IVAs per month and I believe Melanie's office would be at least comparable on the number of IPs to clients.
If you use a smaller firm your IP is much more accessible and Melanie makes a point of speaking to all her clients. Our IPs do not necessarily speak to every client at the beginning but they are there throughtout the process if required.
It depends on which way you look at it. There ARE complexities to be discussed, but some straight talking and plain english would not go amiss.
If you called me, and I wanted to convince you that IVA was the right way to go, then I have no doubt that I could make you think it was the best thing since sliced bread. Whilst that may or may not be true, the method of making you arrive at that decision is entirely wrong. You do therefore have to question the motives of anyone who tells you what to do, whether that be by professional advice where there is an obvious attraction to point you down a particular path, or by anecdotal opinion on any internet forum.
I suppose what I am trying to say is that keep knocking on the door of getting proper and impartial advice until you feel comfortable that you do have all the pros and cons, and where you feel sure that it is you that is making the decision and no one else.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
No I believe that is true. Do your homework and make sure your IP is contactable as I know mine is and without that I fear my IVA would have failed due to problems in the first year. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
As an aside the CCCS cannot draft IVAs for the self employed for some reason and refer you on elsewhere or advise a DMP.
Are you self employed iamfubb2 because if so this could explain the conflicting advice from CCCS and Payplan because Payplan can do self employed IVAs?
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Michael Peoples
As an aside the CCCS cannot draft IVAs for the self employed for some reason and refer you on elsewhere or advise a DMP.
Are you self employed iamfubb2 because if so this could explain the conflicting advice from CCCS and Payplan because Payplan can do self employed IVAs?
No I am not self employed.Just to clarify things gave the same details, income ect to both CCCS and Payplan, CCCS advice DMP, Payplan IVA. And it has been suggested that i am a bit confused about my options!! You are dead right.
It is ridiculous that you should get such conflicting advice from the banks own preferred advice givers.
Did they agree on the monthly payment or did that differ too?
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Michael Peoples
It is ridiculous that you should get such conflicting advice from the banks own preferred advice givers.
Did they agree on the monthly payment or did that differ too?
To be fair I think there are some cases where the client can opt for either solution and it is hard to decide which is the right one, really depends on your circumstances and views.
If in doubt I think the DMP route may be better as you can opt for the IVA at a later date, much harder to do it the other way around.
Hi. One thing that hits me right between the eyes:
You are in contact with Payplan and CCCS, who give differing information, and if they are the source of some of the things you have quoted here as being told, somewhat dubious information too.
You have, rightly so, expressed some doubts as to the validity of said information.
CCCS have popped on briefly with a statement that amounts to "we don't have to explain ourselves". Payplan have, thus far remained silent.
Three other firms, represented by Michael, Size 5 and Melanie, have taken the trouble to try to explain matters, with multiple posts, and give consistant advice.
I don't know about you, but I know where I would be looking for guidance :0)
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
