kingkong wrote:
Well well another great rip off.
Everybody lies the only difference is how much
http://www.thriftyscot.co.uk/062007/ban ... firms.html
That was written 4 years ago, since which time the industry has tightened up --- and apparently people are still in search of IVA's.
The answer to most of the points raised is for the debtor to read and understand the undertaking BEFORE signing up. Asd for fees .... worth every penny.
I will repeat a small calculation I made earlier in another post:
I owed one CC company nearly £13,000 and was just about managing to pay the interest each month. Assuming I wasn't in an IVA, after 5 years I would have paid that company over £12,000 interest and STILL owed them the £13,000 !!!!! In the IVA they are getting about £4000. So I have "saved" myself £21,000 !!! And that's just one creditor! ... no where near what I am (or the creditor is) paying in fees.
From my point of view ( which is the one that concerns me), while paying what I can I am "saving" a fortune -- I'd hate to do that little sum on all of my debt ... to be fair, that particular CC was the highest interest one.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014