www.iva.co.uk

Me and my husband are seriously considering an IVA. What's your experiences of the different companies on the market. Is there a consistent front runner for working well with the customers?

Also i'd be interested to know your experience so far of being in an IVA...

Morning... I have just finished my first 12months of being in an IVA and I have to say that its been plain sailing all the way, that's not to say that the next 4 years will be the same. Luckily I was given realistic allowances which was a bench mark for my IVA and I have more money left over each month than I ever had pre IVA (all robbing peter to pay Paul) I choose PJG and they were fantastic, then we were sold to Creditfix and with all the dealings I have had with them they are also in my opinion very good and efficient with all my questions etc. My annual review was completed in 3 days with no changes. So again very pleased. I'm under no illusion that the next 5 years will be easy, but I'm lucky to have regular overtime and i can keep it under the 10 percent threshold. My budgeting skills are amazing !! 5 empty jam jars and I withdraw all my money on pay day baring the mortgage and DDs and the rest is then placed in the jars.

My only advice is to make sure you choose a few IVA firms to speak to and also make sure your allowances are realistic.

Good luck

Hi

Take advice from several companies before going ahead.
Nearly all companies will not charge an upfront fee and all are duty bound to give you best advice

Good Luck

Regards

Hi. You do need to chat to a few companies to see what works best for you -- one man's meat is another man's poison, and all that.

Personally, I would go for the smaller company who will treat you as an individual. But even there differences of the "way they do things" matters.

As you look through posts you will find around 6 companies that contribute.

Of those I would say there are 3 that I would consider, 1 I wouldn't and 2 who only post when something has gone wrong and they are getting negative comments.

I think highly of PJG and the 2 main people linked to them but I wouldn't recommend them although they are still trading - it's the uncertainty factor of would they sell on your case and who to.

I think that there are positive and negative postings about most companies. We went with Cleardebt and I would definitely recommend anyone to give them a call. Read the blog pages to see how people got on.

I would say to call around. It costs nothing and a few days finding the right company would not be wasting time. An iva could last five, six or even seven years and that long on a tight budget is hard, trust me!

For us, it was a great decision and I think it's a fantastic choice for the right circumstances.

Good luck!

I found it a relief to have one monthly payment - instead of 5-6 companies and dreading the postman or the phone ringing. I found that the amount I was asked to pay each month was above what I was paying normally - but this forced me to apply disapline and be frugal with my spending. I would never have been debt free without an IVA but as you can read on this forum - there can be problems along the way and the PPI or raising equity (if you own your house) can cause problems. Genterally I would say I am debt free - it was a long 6 years - a few hicups along the way but the best thing I ever did. Debt does not go away and no hiding places - its grit your teeth and pay what you can :-/

I went with PJG, the team has been world class. despite all the negative press on here about them.
I have already completed 9 months and can sleep at night rather than worrying about how reminders with be dropping through the letterbox. We have more than 15 creditors and have been totally left alone thanks to PJG.

PJG were brilliant I am not sure there are any negatives on here about them? the only issue is we aren't still with them as we were sold on

My hubby and I both had IVAs with Payplan.Although we never did get to speak with our IPs the IVA went smoothly and we are both debt free now.

That is the one negative and the one big uncertainty - will it happen again to others?

Also bear in mind that those "sold on" are the ones that PJG believe that they could no longer support probably because they are deemed to be the more complex cases.

Harrington brooks brill

Indeed; I chose PJG very carefully and still ended up dumped with the cluster**** that is CreditFix with no say in the matter.

Still angers me.

I don't know that I am particularly difficult.? I'm not sure any of us know the reason

@lifesnoteasy

I think PJG just sold the 'whole book'. Personally I had no contact with PJG except when it came to my yearly review. I had the advantage of being able to do overtime at work and was regularly paying extra into my IVA .. I declared and paid everything quickly so they never had to chase me ... and so as a result I was probably making them more money than those that didn't have that opportunity and yet they still sold me on.
I chose them following good reviews about them on here but am now having problems with CreditFix who they sold their IVA's too!

Anyone thinking about an IVA needs to speak to a number of different companies and go with the one they feel comfortable with as well as looking at references from places like this