Hi All, am new to this forum and i only stumble upon it today as i had a call from IVA i believe. Basically i told them about my debts which they then agreed to consolidate into one affordable payment hence over the peiod of 5yrs. My concern is that it all sounds too good to be true as i was told that i will get an email which i have to read and also that someone will come and see me this week and all i have to do is sign the paper work and they will take it from there. And then the lady ask for my bank details as they will need to take the first payment which she says is for the admin fee £380 now and £310 next month. however i told the lady that i need to see some paper work before i can make any payment as you havent said if have been approved or not. So basically is this right as am kind of weary about this?
The next question is that why do i need to change my bank and also cancel all my direct Debit payment to my creditors as am worried that they will be chasing me over the phone and that will not look with my credit ratings...
Please help and i look forward to hearing from you guys....
Hi there Smiley, I would ring a couple more companies and talk to them for some free impartial advice before you give over any bank details or sign anything. Take a look at www.iva.com for some reviews and contact at least two more companies and have a chat to an IP who hopefully will advise you accordingly.
If you bank is one of your creditors it is always advisable to change your bank account and to stop paying the creditors is sometimes discussed as well. Do take the advice of talking to another couple of companies and get that all important information. The IP's who post on here do come highly recommended too.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
This all sounds dreadfully dodgy to me! Who did you say had contacted you, and how did they get your details?
I would recommend that you take professional advice as to your current financial circumstances from an insolvency practitioner, so that you can have a good think about your future and which solution best suits your aims.
Additional borrowing, if that is what is being offered to you by this company, is rarely a long-term fix - and can often lead to much worse financial problems along the line. You should definately not make any payments to anyone over the telephone, until you know exactly what you are paying for, and most IP firms will give their initial advice on a completely free of charge basis - so you may want to consider that moving forward.
hey smiley welcome
i would definitely check out the link lesley has kindly posted for you
heed the advice given-get more details about whoever has contacted you and DO NOT part with cash til youre 100 %
initial advice costs nothing and its far better to ring around and see who you feel comfy with-after all the majority of the time you'lle be with them for 5 years unless you have some good fortune and can do a full and final offer.
keep posting and ask anything youre not sure of wecome and take care [:)]
Welcome from me as well. I agree with Melanie that this sounds dodgy, and personally I would look at the link posted as well and ring up a couple of firms.
I don't think I would be touching this one, and I would advise that you use a firm which doesn't charge upfront fees.
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
