www.iva.co.uk

Can anyone advise me please?

Freeman Jones arranged my IVA last year and they recently sent me a welcome pack to join Experian at a monthly cost of £4 plus which will be added to my IVA payment each month. They've already set this up without my acceptance but say if I don't want it I've to call them to cancel. Now I've had an account with Experian for years when my credit was spot on but I cancelled this once I hit the financial wall and entered into the IVA.

For the £4 plus I get access to my credit file and my credit score.

Now my question is this: Is there any point in subscribing to this every month? I mean, surely being in an IVA means my credit score will not improve until my IVA has been satisfied. Doesn't an IVA make me insolvent for now?

Thanks guys.

Kath

This is a new one on me and to be honest, can't see the point in doing it until your IVA is completed.

That's what I thought.

When my husbands business failed at a cost to me Barclays closed my bank account of 15 years as one of the business debts was to Barclays and I was a director so F Jones helped me open a new account with RBS (Think Banking) It is TB that have sorted this subscription and its call Think Assist.

They offer support to help you improve your credit score.

For a time there I thought maybe my score will improve with each successful payment into my IVA.

Interested if anyone else out there has been offered the same.

Kath

Hmmmm -- I imagine FJ are getting a referral fee for these accounts and certainly agree with Kallis that there seems to be no point in having this service at the moment.

FJ might be overstepping the mark in setting this up without your agreement, if they were my firm I would be having words!

I will do tomorrow when they open.

They've even sent in the dd confirmation and it says, and I quote: For convenience you thinkassist subscription has been added to your existing FJ dd and your first payment of £4.74 will be collected 30/04/2012. You have the right to cancel at anytime by calling your Relationship Manager.

I think that's naughty to assume. And now I have to pay a premium cost of a phone call to cancel. And I bet I'm on hold for considerable amount of time.

Are these organisations meant to help you with cash rather than help you waste it?

Kath

Any chance that you can find out a landline equivalent number by using saynoto0870?

Your payments into your IVA are nor going to help at all at the moment. I would not be paying into this.

As regards a bank account, you do not have to have a paid for account such as Thinkbanking. Have a look at the Co-op - their basic account comes recommended.

Nothing will improve your credit rating until the end of your IVA anyway.

I've found an 0845 number which is better than 0844 but either way I feel it's a naughty thing to do and I'll be sure to tell my Relationship Manager in the morning.

Thanks for that, much appreciated and I thought that would be the case. An expensive and pointless idea.

Hi Kath, if you are really interested in your Credit file, you can get on Noddle online for free[:)]

If do Saynoto0870 and put in Freeman Jones it does come up with a geographic number.

What a liberty! You need a credit reference agency subscription like you need a chocolate fireguard! You may not need a paid-for bank account either...you could give Co-op a go as lots of posters have their basic account and are full of praise. The best you can do for your credit file while in the iva is run your bank account in good order and pay your bills on time.

Agree with BOL - if you can get another account do it - i wouldnt touch thinkbanking with a ten foot pole ! as for paying for a credit report monthly - they are having a laugh at your expense !

I am really interested in my credit file and I'm gutted I'm in this financial mess. Haven't heard of noddle but I will check it out. Thanks so much.

Kath

I totally agree and I'll be telling F Jones/T Banking in the morning. I actually thought that if they're offering me this then each IVA payment I make must be positively affecting my credit score.

How many other people will be taken in or not notice the £4.74 debiting their bank accounts? Quite a few I'd say. b***** liberty and these organisations are meant to help and manage us through this tough time so that we come out the other end with a fighting chance.

Thanks guys.

Kath