I didn get a IPA because I used a professional company to carry out my income and ex, there were lots of things not given to me by my IVA company which I was entitled to put down. the offical receiver told me that a income payment order was made up from 50% of the IVA payment because of this problem. I chose to use a company for my bankruptcy for this reason and they were 100% professional and helpful, I realise that some companies are not like this and I appreciate that, but not all, its the same with IVA companies , some good and some terrible, with regards to the register again I was happy to be on this as this is the law. if someone whats to contact me for a better option then I`m all for saving myself money which they did. hope this explains. thanks
It wouldn't have made any difference if I'd gone with a company as I was honest about my expenditure, so unless I was advised to exaggerate my expenditure I would have still had an IPA.
Well you work in the industry so you would know what is exceptable, where as the general public dont, my Iva company only gave me the very basic living costs so they could basically make my monthly fee higher, the official receiver even told me that so I have to beleive him, I did not exaggerate my expenditure, it was the other way round My IP gave me nothing so he earnt more money in fees, hope this explains Skippy, thanks for your concern
I can confirm that and would also like to point out that the majority of posters on here are private individuals who are all in the same situation and come on here for help with their debt situation.
You will only get basic living allowances in an IVA but with budgeting you can have a decent life.
An IPA is between 50 and 70% of your disposable income over £99 per month. Nothing to do with your IVA payment.
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
hi Kallis, thanks for reply, sorry I didnt know you didnt work in the industry, you must spend alot of time on this site as I have seen you post many times,infact its 35634 Posts, thats a lot of posts, do you give advice, as if you dont work in the industry tha could be quiet dangerous! as for my IPA you are correct i was only given basic living costs, but we all know that these rise on a daily basis, the offical receiver was the one that told me about 50% of my Iva payment, so I tend to believe him, after all he is a professional unlike us!
anyway keep the good work up, i must say I find it a little strange that you come on here so much if you dont work in insolvency, but what ever tickles you fancy i suppose. god bless
I can see how helpful this can be, but on the other side if someone is to give incorrect advice then that could lead someone the wrong way, which isnt good, I cannot see how you can say that the company that helped me are cowboys if you yourself are not even a insolvency professionals, seems a little odd to me,
i for one am eternally grateful for all the help, advice and support i have received from everyone on here, and the ones who give up their time to try and help others deserve a medal THANK YOU !!!!!!!!
I hold down a full time job and, sad as it may seem, I post on here as I am in an IVA and like the fact that I can give support and advice to others in the same situation. My advice may not always be spot on, but it is not dangerous.
I do it because I want to. It is purely voluntary.
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 think this post is going round in circles. I don't work in insolvency and any knowledge I have picked up has been through my own experience (IVA and BR) and through the professional advice given on here.
If you read my earlier post I did say that there are reputable BR assist companies. Sadly the ones who mail shot vulnerable people generally aren't and people are taken in by them when they have a perfectly good IVA.
Hi Skippy, yes I understand and agree partly with what your saying, im just sharing my experiance as I found the company I dealt with 1st class, I tend to find that this forum does encourage people into IVA`s when maybe they are not correct, from reading former posts over the years this is my opinion. IVA`s are a multi million pound industry and not right for everyone,
This forum encourages people to look into every option. An IVA will only be recommended if it is the correct way to go.
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
No one is pushed to do anything on the forum. We always suggest speaking to 2 or 3 different companies for advice.
It's then down to the individual to decide which route they take depending on whether they have any assets to protect and whether they feel they want to pay as much to their creditors as possible.
I'd couldn't disagree more with "this forum does encourage people into IVA`s when maybe they are not correct, "
If you read most of the posts you will see "Make sure you investigate all of the options available to you from several IPs before you make your decision." or similar.
So what was the name of the company you used again?
