www.iva.co.uk

I was in the staff room at work the other day and there was a copy of the Sun newspaper there. Flicking through it I noticed the usual plethora of debt company adverts but one caught my attention in particular. I can't remember the company name but they were offering to "write off up to 90% of your debts". Isn't this the very thing that the OFT has told companies to cease saying immediately? I am in work tomorrow and will see if the paper is still there to find the company name unless any of you have a copy. I think it was Mon or Tues this week.

Dave

Hi Bear
Just seen the advert you mentioned and the website is www.ukdebthelpline.net
Regards Sue

Thanks Sue

Just looked at the webpage. Even scarier the way they say "write off 100% of unsecured debts you cannot afford to pay".

Now we all know that if we can afford to pay 40p in £ then we are writing off 60p in £ so we are writing off 60% of the debt, but in their English, we are writing off 100% of the 60% we cannot afford to repay!!

I think!!!!

Dave

Hi Dave
Just looked at the website and is very misleading for people who may be at the beginning stages of getting help. I can remember how I felt realising the enormity of my debt and would have seized any help on offer. Luckily I found this website, as said before shame this can't be advertised in the press.
Sue

Yes I would agree with Daves interpretation but this is exactly the sort of thing that needs addressing,and I think that it will be shortly by the governing bodies.

I wonder if anyone has ever managed to get a 10p in the £ IVA ? I suppose there could be extreme situations where this would still return more to creditors than bankruptcy. Even if it was virtually unheard of, it would only take one to have happened (ever) to justify the claim.

Just wondering. . .

'5 years sticking my head into the Lion's mouth of debt !'