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Posted: Sat Mar 15, 2008 7:44 pm
by lee21
Hi There,

I currently am with Bridgestones/Spectrum for my IVA, and have just finished year 1. I just get this feeling through forum posts and other people that they are quite small and also a bit suspect in some areas. I've not had anything to worry about so far per se (although they did take a long time to get me my settlement, and their contact letters are quite short and sharp!) however I'm wondering - is it legally permitted to change you IP a la changing a Bank, in mid-payment? Or will that just cause my creditors to get itchy feet and start making demands again?

Many thanks,
Lee

Posted: Sat Mar 15, 2008 8:04 pm
by chris.g
Hiya Lee and welcome to the forum.
Are you happy with the way they are handling your IVA? If you are then I can't see the point of changing. Anyhow, I think you need a very good reason for changing so you may not be able to do it.

Posted: Sat Mar 15, 2008 9:14 pm
by Soulgrowth
Hi Lee ... I would tend to agree with Chris ... if it aint broke, don't fix it! Your current IP will have a working knowledge of your case, something that you would need to start again from scratch to appoint new IP.

As far as I was aware in order to be able to appoint a new IP you would have to go through the process of defaulting on your current IVA, which is a long and traumatic process ... but I am sure one of the experts will be along soon to advise more accurately.

All the best

Debbie

Posted: Sat Mar 15, 2008 9:26 pm
by Adam Davies
Hi
It is near impossible for you to change your IP.
All the more reason for taking time to research your IP and IVA provider prior to starting an IVA.
Regards

Posted: Sat Mar 15, 2008 9:28 pm
by carlmcmullen
Sorry i cant answer the question.

But as Debbie and Chris has said, if it aint broke, why fix it ?

If you are happy with the way your IVA has been ran then why change it. You have to remember that there is always two sides to every story and whilst you may read negative things about the company you are with I am sure for every negative there are three possitives, so maybe changing companies with out a good reason would be a snap decision.

If you do have a concern then please share, or speak with your IP directly to see if it can be resolved.

ps... you will also find that the smaller companies are the better ones to deal with.

Posted: Sat Mar 15, 2008 9:32 pm
by MelanieGiles
It is very unlikely that you would be permitted to change your IP, as this could only be done by a resolution of creditors or Court Order. As you say there are no problems with the company you are using this is clearly unecessary.