www.iva.co.uk

i got al etter from the iva council and i gave them a ring a and a mr pengally from uk bankuptcy limited rang me back he said r u a home onwer i said no do u own your own buisness i said no do u have any shares or bonds i said no he then said u r a victim of miss sellin a iva he then said he could get rid of my debt in 12 months wapping the rest of my debt 4 1,000 pounds and plus getting 8,000 pounds back from freeman jones or half that back he also said that the 8,000 pounds i hav paid so far in my iva has not gone towards my debts but into freeman jones pockets eg commisssion etc do u think these facts are true i would like some advice please freeman jones as far as i have been with them have been good to me and helpful

And how would Mr Pengally be able to confirm that I wonder? Was he at your initial meeting with your IP? Was he inside your head when you were making the decision to choose an IVA as the best method of repaying your creditors?

I rather suspect that you are actually a victim of mis-selling - but from UK Bankruptcy and not your current IP, as you seem to be enjoying a good relationship with them. Refer this matter to Freeman Jones and let them deal with these people directly.

w 898 welcome. I am with freeman jones and have had the letter also. The iva council are of the belief that if you have no assets and have an iva that it has been misold to you in that bankrupcy would be the better option. Personally Fj have been fantastic, helpful and I have had no problems. They made sure that I understood about the option of bankrupcy and i chose to pay as much as possible back to my creditors because in my opinioin I borrowed it. My advice is that if you are happy in your iva everything is going well then dont change anything. they got your details from the insolvency website. By the way your proposal states the IP fees and you have accepted them, it is not commission it is payment for the work they do supervising the iva. Ip fees tend to be taken first. Your creditors will get what the proposal states over the five years if all runs smoothly. I find this really annoying as they are disturbing people who are in an iva and happy, causing unecessary doubts. Personally I rang FJ told them that their clients were being sent letters and shredded it.
This is my opinion but there is a lot on this site about them, do a search and read some of the posts you will get more of an idea then.

Hope this helps.

Ang

thank you 4 your advice the letter will be going in the bin and when iva council ring back ill tell them where to go

Hi w898

I would also let Freeman Jones know you have been targeted in this way as they may want to take it up with the iva council.

Emma

Hi
This type of 'selling' really does anger and sadden me.There is no way,in my opinion,that UK bankruptcy will get any of the money back.It's just a false promise and a sales pitch.
They seem to think that anyone who is not a house owner or a company director shouldn't want to try and repay their creditors to the best of their ability.
This approach of accusing miss selling just because financially bankruptcy is less painful than an IVA is wrong.It's a bit like saying go on the dole rather than work because you'll have more in your pocket and your employer is making money out of you dishonestly.
I wonder how many people respond to these letters and take this route,expecting a windfall ??
Regards

thank you 4 your reponses im happy in my iva im paying back the money i owe at an affordable amount each month when you get a latter from a other company saying u could be debt free in 12 months u think oh yes but as i hav learnt now there is always a con with these people i would like to say thank again 4 your advace

There are various companies which send these types of letters.The trouble I think with ivac, is they have a singular view that if you ahve no assets then bankrupcy would be better and you were misadvised. They send their letters out on mass, a couple of weeks ago it was grant thornton clients that got them, now it is the turn of FJ. They are entitled to their view but should not be confusing people and I think they do. The thing with this one is they appear to know about your iva but they dont, they say about companies picking on vulnerable people, my opinion is they are doing just that themselves. They sign it from an ivac officer again making it sound official.
I am with Fj too and have found them to be nothing but helpful, they have assisted with any problems and been fair both to me and the creditors. I am 15 months in and am happy. I wasnt before with my debt, now I see an end to it all and I wont do anything to jeapordise that. If I have any problems I will decide what is best for me to do.
All the best you keep on going.

Ang