Its been a while since I last came on the forum and guess I am way behind the scenes with the PJG / Creditfix news but am I right in thinking that Mel does not now do IVA's at all?.
I was always very impressed with her commitment to the business and the balanced advice offered to anyone, not just her own clients, and always wished I had found her before the IP I did go with. If ever asked about IVA companies I have always put people her way.
Mel transferred some of her business to Creditfix which I believe was the majority of her IVA client base. Her website still advertises debt solutions such as IVAs so unsure whether she has stopped totally.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
As far as I am aware the company still operates and there are other IP's on board. However, I think they are concentrating more on corporate debt solutions.
Mel herself has cut back on her workload generally. As we all know, she used to put in many more hours than there were in the day to help clients and non-clients alike and there comes a time when this is simply physically and mentally unsustainable.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I dearly wish Mel was still my IP, but she isn't and I have to deal with it and that's that.
Mel, if you're reading this, I sincerely hope you can return to this forum. Your expertise, insight and helpfulness were a great asset to this forum and a sad loss.
Maybe the dust will settle and the "why" won't matter anymore. Whether you do IVAs anymore or not, your wealth of experience is beyond value here.
And on a personal note, I hope you had a great Christmas and have a Happy New Year [:I]
I am still with Mel and am extremely grateful for that. I asked her if she would return at any stage. I am sure she is hopeful that she will, as she said she misses it greatly. I know that had the transfer of her clients been avoidable it wouldn't have happened. She is a brilliant professional and I am sure the only reasons she does not post currently are professional. As you say maybe when the dust settles who knows.
I'm struggling to understand how it was decided which IVAs were transferred as MikeyM and I both started ours on the same day with Mel. Mine went to CF and his stayed!
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by anap
I'm struggling to understand how it was decided which IVAs were transferred as MikeyM and I both started ours on the same day with Mel. Mine went to CF and his stayed!
I would guess it's purely financial, the ones offering the best return for the amount of work done will no doubt be kept..
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by anap
I'm struggling to understand how it was decided which IVAs were transferred as MikeyM and I both started ours on the same day with Mel. Mine went to CF and his stayed!
My guess is that it is based upon the level of the debt owed. The higher the debt the more likely you would be retained with PJG. Somewhat simplistically for example the total unsecured debt for me and my other half was just over £90k (eye watering I know) so the 15% fees on that would probably be more than enough to fund the administration costs of the work to be done, whereas on say a debt of £30k a 15% fee may not cover the costs. I don’t know the answer just guessing.
Melanie will still take on cases that do not lose money and she will still be advising people on a daily basis. I am not sure why some cases were kept and others were not but I am sure there were a variety of reasons. I doubt if these are purely financial as otherwise CF would have demanded the cases. More likely these are tricky cases which need a hands on IP, cases that have had variations and need regular supervision, cases where the clients are possibly fragile etc. I am only guessing but I would be sure it does not just come down to the profitable ones.
That's not the case either. I only ever had contact once per year; my IVA has run perfectly smooth for three years and it was transferred.
As someone previously stated, it will be a purely commercial decision.
It would've been nice to have been informed prior to the transfer; that's how good business is done. It was bad form from PJG in not doing so but that seems to be the benchmark for what is classed as acceptable service in this marketplace.
