New IVA requester

[Wizzard]

Hi, I am considering an IVA and have spoken to a company who assured me I would have no problems after 2 hours on the phone discussing who I owed monies too and how the debts came to be. I have now signed and Authorisation agreement and agreed to pay £320 over 2 months. Since then I have discussed this IVA with the company and they now say they can't handle it because many of the creditors are collection agencies. However, I still have top pay the £320 which means I will be unable to pay my creditors this or next month which makes me a default on my arrangements with them. I am worse off now than I was 4 weeks ago and am upset that the initial 2 hour talk did not raise these problems until after I had signed an agreement. Sorry if I rambled a bit but I really am worried.

[size5]

I cannot see how you are liable to pay £320 if they have refused to accept your case.
Have you actually paid it yet?

[Wizzard]

Not as yet, I am going to the bank tomorrow to stop my debit card.

[debbiw]

Hi, Which company is it, that you have spoken to?

[size5]

Assuming you can do that then you may wish to visit www.iva.com and look round for a few firms to speak to.
Having collection companies that you currently owe the money to is in itself absolutely no bar to proposing an IVA, I suspect that they may have picked up on something else and may be using that as an excuse to hide behind.

Regards.

[Wizzard]

I'd rather not say at the moment Debbie, but I've just read your blog and I know exactly how you feel. I'm 61 now and due to illness neither myself nor the present Mrs Scollen will work again. Not something we expected at or age to be almost destitute, if that's the right word.

[debbiw]

Ray, I'm sorry to hear your situation. Try emailing Melanie Giles or Ian Millington who post on this forum. I'm sure they will be able to help you and Mrs Scollen, with where to go next. They are both brill and highly recommended x

[size5]

Ahhhh, that makes a lot more sense now.
How is your income made up if you don't mind me asking? Is it purely benefits based or do you have occupational pensions etc?

[Adam Davies]

Hi
You need to get that money refunded.
Regards

[ianmillington]

I would agree with what has been said by the others here. Unless you have signed something that makes you liable to pay them for advice then you should not pay them. It is not unknown for a deal-breaker to emerge during the initial preparatory work. If that is the case, the IP firm should graciously withdraw, but I'm afraid I don't see the fact that the debts are with collection agents to be a deal-breaker.

Professionally unless they are able to satisfy themselves that there is a realistic prospect of the IVA being accepted they should not accept formal instructions from you or expect any money from you.

You ought to see either the proposal document or at least some evidence of serious headway being made in the process before you even contemplate making any payment. That in itself ought to be on account of the 1st contribution, and refundable if the IVA gets rejected.

Ian

[Wizzard]

Thank you all for your help and advice. I'll let you know how it goes on.

[AlanO]

Hi Ray,

Sorry to hear of your experience - I can understand why an IVA was not felt appropraite but fail to understand how they could justify the recommendation and then the charge.

You & Wife appear to have debt issues that need to be addressed and an IVA is only one of a number of solutions out there. The key is finding the right one for you.

I suggest you contact the experts who will usually undertake a free consultation to work out what is right for you. Best if you can get this face to face.

All the best Alan

www.debtdr.co.uk

[MelanieGiles]

I cannot understand why you have been advised that an IVA is not acceptable due to the debts being handed to collection agencies. I deal with such agencies all of the time, and have never had any problems - indeed it sometimes easier to deal with these companies than the creditors themselves.

[Wizzard]

Hello again forum users

The IVA company have now decided to go ahead with my case but did not bother to tell me so. I rang them yesterday and it seems they have been awaiting documents from me which I posted to them on the 19 March, but no one bothered to let me know they had not received them. When I rang them yesterday they told me they had been in contact with my creditors, but the creditors deny this. Who do I believe?? They have not yet started on an actual proposal and I am getting very worried as a lot of my creditors are now demanding final payment within 7-14 days. I know you can't really help but this is the only place I can have a good moan and get it off my chest. (mebbe its an age thing, but my IVA advisor sounds about 14 )

[debbiw]

Hi Ray, good to have you back. Which IVA firm are you using, as they don't sound very organised. Maybe you should try speaking to a few more, as if you go down the IVA route, 4/5 years is a long time to be with a firm !