Last night I was watching TV, it was 'Beat the Bailiff' hosted by 'financial expert' Lorne Spicer. In this programme she was giving advice to a chap who had built up a substantial amount of debt.. She told the chap he had two choices; one was to undertake a Debt Repayment Programme for 15 years and keep his house and the other was that he would have to sell his house (he had equity) and do a five year IVA..
Well I thought, bit strange that, as usually the debtor has to raise equity by remortgaging and does NOT have to sell his house.. Hmm thinks I, I'll look this Lorne Spicer up, and low and behold, she filed for Bankruptcy in January!
It can happen to anyone.. http://www.telegraph.co.uk/culture/tvan ... uptcy.html
Is this also the same Lorne Spicer who presents some of the daytime rubbish on BBC? I've been unfortunate enough to see Cash in the Attic a few times and I don't see how selling other peoples' things qualifies you as a financial expert!
I hate people who know nothing about IVA's giving out duff information!
I know I don't always get it right, but I do know enough that I would not be telling people they would have to sell their house for an IVA!
Anyone who is thinking about what they are going to do might be put off by such things as this.
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
I agree with you Jan. Over the last few weeks i have read so much information on IVA's that when you see a programme like this, it really makes the blood boil.
This information can really make someones situation seem a lot worse than it already it is.
Agree on a forum like the BBC you should not say anything unless you are 100% sure of the advice.
That said she must have gone through a lot and BR for someone in her position cannot have been easy. We should email her at the Beeb and ask her to start reviewing the forum so she won't make the same mistake again!
Br isn't easy for anyone, doesn't matter what they do for a living. She should make sure of her facts before giving advice though.
It also shouldn't matter what forum she goes on - she should make sure of her facts, or get them checked out before she posts.
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
You never seem to get much info regarding IVA's on tele, they seem to be a bit of a secret! talking of media financial experts one that really gets up my nose is Martin (state the b***** obvious Lewis) I could easily poke him in the eye!
You will probably find that the site censored your word Fox - there are a lot of words which it self censors - wouldn't worry about it.
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
bigpete wrote:
Last night I was watching TV, it was 'Beat the Bailiff' hosted by 'financial expert' Lorne Spicer. In this programme she was giving advice to a chap who had built up a substantial amount of debt.. She told the chap he had two choices; one was to undertake a Debt Repayment Programme for 15 years and keep his house and the other was that he would have to sell his house (he had equity) and do a five year IVA..
Well I thought, bit strange that, as usually the debtor has to raise equity by remortgaging and does NOT have to sell his house.. Hmm thinks I, I'll look this Lorne Spicer up, and low and behold, she filed for Bankruptcy in January!
It can happen to anyone.. http://www.telegraph.co.uk/culture/tvan ... uptcy.html
What very unfortunate and possibly wrong advice - I will get a look at this and get the BBC to make it perfectly clear what the real appropriate advice should have been. Outrageous[V]
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
I am sure of my observations, we have Sky+ and when Ms Spicer aka Donovan stated these comments, we played it back three times to ensure we'd heard correctly. The person involved had a £500 cat and a lot of technical equipment, which might jog a few memories of readers? It was on Tuesday 11th May Sky 3 at 5.00 Channel 108 (Produced by Lion TV)
Just finished watching another episode of Ms Spicer's 'Beat the Bailiff' on Sky3 at 5pm tonight - this one was about a mother and daughter who had amassed a total of £22,700 debt.. Advise from Spicer; Negotiate to freeze interest, pay creditors £1 per month, increase income to pay more or, because mother had £50,000 of equity in her house to sell it.. Uhh? I'm pretty sure this could be sorted out without selling the house? No wonder Lorne Spicer went Bankrupt!
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
