Wow, I've never heard of that before! What an appalling way to be advised to pay your debts!
I agree that you need to check the Insolvency Register to see if you are on there, as you will be if it is an IVA.
Did you have a creditors meeting where you would have been informed whether or not your creditors agreed to the IVA? You would also have had a chairmans report which would give you details of the court it went through as it is legally binding.
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
We got stug big time by these idiots what was "spectrum financial services" and like size 5 says they send someone round when you are at your lowest point, i was 6 months pregnant at the time and had no where to turn. We paid them £450 for 3 months, them saying that us paying this would be less than what we were and they would deal with creditors and we would have no come back.
Well this made our situation a whole lot worse, we had 2 ccjs just as I gave birth not the stress we wanted. One of the ccjs turned into a charging order, which we remortgaged to pay off, they started a big domino effect if I had found this site prior, things could have been different. As it stands I declared BR oct 2008.
Their paperwork also stated when we were involved with them if a creditor agreed to freeze interest or settle we would have to pay £29.99 per creditor. We never did pay any fees apart from the first 3 months, but even so we got stug for over £1k.
I really feel for you being involved with these sharks for this long.
Lets hope that anyone who has been contacted by a firm like this finds us before signing up to them.
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
What they told us back in 2006 was it was a voluntary arrangement, we were NOT legally protected like we would be in an IVA, but we didnt according to them have enough to enter into an IVA, but we were paying them £450 a month which we did for 3 months and would have probably continued but they were on watchdog and i quickly cancelled the standing order as they were quite clearly feeding us a load of bull sh*t to put it mildly. I really do feel for the poster.
It was the first I had ever heard about this sort of thing, but I will make sure that I remember it if it ever comes up again.
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
The trouble is they prey on people when they are at their lowest and you arent thinking straight so stupidly believe that they will help you. Things could have been a lot different for me if we hadnt got involved with them. I still have their paperwork as sorting through everything with moving in 3 weeks, will look to see what the exact wording was.
Spectrum were featured on Watchdog 2 or 3 years ago. I seriously hoped that something would be done about them, but if they are now trading under another name it obviously hasn't.
Skippy, lucky for us I saw that but unfortunately it was a few days after they had rec'd their 3rd payment of £450!!! but we did escape their grasp thanks to Watchdog.
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
