IVA Companies..

[Chris.z]

I have read with real interest on this forum the very mixed views and opinions about IVA's. In an ideal world this forum would be so helpful if you found it before entering an IVA so an iformed and educated choice could be made. I know my views could be tainted due to my difficulties in my current, failing IVA but I do actually think there is a real place for an IVA.
I do think that the bigger your individual debt the better an IVA will be for you. Partly due to the level of reduction in someone's debt. I base this on the level of monthly payment compared to debt that I have read numerous times on this forum. An example of this is that I have seen a debt of 120,000 on this forum with a payment of 550.00 a month. Yet debts a quarter of that generate a payment of 300.00 a month? I find this mathamatics difficult to understand.
Secondly I think the behaviour of some IVA companies is nothing short of scandalous and perhaps their abscence from this forum is an indicator as to their motives for IVA's. I am very supprised that more IVA's are not rejected, not because of a sensible offer of dividend in the pound but because peoples genuine efforts and offers of dividends in the pound are dramatically reduced by Profit making IVA companies. I have read numerous cases on forums, newspapers and banks websits citing that IVA companies are getting rich at the expense of someones debt. I am amazed that banks haven't actually realised that without some of these profit making companies they would actually realise far greater returns on their debt. In some cases some IVA companies are getting upto 75% of peoples returns with creditors obviously only recieving 25% of the debt.
I am by no means attempting to say that everyone behaves like this as clearly people such as Melanie and Andy are experts in this field and genuinely are extremely helpful but there are some sharks out there capatilising on peoples misfortunes.
Anyone got any views on my mad ramblings???

Chris

[Adam Davies]

Chris
I think that everybody connected to the IVA industry would gave to concede that the public image of IVAs and IVA providers is not as good as it could be.
Hopefully improvments will happen,and I think that they are already.The debt resolution forum has formed in an attempt to raise standards within the industry,advertising of IVAs has changed,although more is needed and of course this forum continues to grow and debate key issues relating to not only IVAs but DMP,s and bankruptcy.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Chris.z]

I suppose though Andy it depends if all IVA companies become involved in the forum.... Do you think it will ever actually come to Banks managing their own clients through IVA's or at least legislation changing? It seems unfair that IVA's get turned away and people pushed towards Bankruptcy due to certain profit making IVA co's taking to large a slice. I know it sounds like I am bitter but I actually think it is a really pertinent point.... I'm a little bit supprised it hasn't provoked more debate really.

Chris