www.iva.co.uk

Myself and my husband are in the process of applying for IVA, Before we decided that this was the best option, I phoned around different debt managment companies to ask them to send their info packs.
After disscussing our situation with these companies, we settled on the firm who are setting up our IVA. We were relived that we were sorting out our situation and the IVA seems to be in good stead as that we will be paying the majority of our debt off without a lot of it being written off. However, this feeling of some sort of relief was sort lived when a DM company called and told us that
*IVA's are not suitable for people in shared ownership properties
*My husbands motorbike would be taken away even if the debt is included in the IVA
*That because our payments are good, the IVA would be refused and we will be 'laughed out of court'
*there is no way our IVA will be approved.
As you can imagine, the aggressive tone of the DM company scared us a bit.
I wondered if anyone eles had received calls from DM companies with these aggressive and stressfull tactics?

Who was it that called you and I would strongly suggest you ignore it as the info they have given you is false.

You need to discuss the various options when dealing with your IP. It is the decision of your creditors along with the IP to decide what should happen to you.

As for the Motorbike is this asset financed by HP because like my car we agreed to keep it out of the IVA because the asset was secured and perhaps your IP will deal with it accordingly.

Hope this helps

I think it's just a tactic to try and get you to change companies. Despite being told that I now have someone representing me, I still have one company that consistently sends me e-mails saying they "urgently" need to speak to me about my finances.

Just ignore them. If they phone, but the phone down. They can't bully you into becoming their client. If they persist just tell them they've talked you out of it because right now you need someone calm and understanding, not a bully. Also tell them that you are recording their phonecalls (even if you're not) and that if they persist you will take the tape to the police and report them for harrassment.

Stand your ground. If you're happy with the person representing you then that's what matters.

Good luck.

Johnz

It was a company called debt angel, the first call i had from them they stated they deal only with debt managment and that our IVA was miss sold, I got indepedent advice and decided to carry on with the IVA, the second call, my husband recieved and they said they also deal with IVA's and that we would not get one.
My husbands bike is not HP and I sent off the loan agreement to my IP so I know that it is included as they stated.
These companies, I feel, see people like me as desperate, which I cannot deny, but Debt Angel also sent us their info pack with un upfront fee to pay which I found wrong.
They didnt even go into our mothly expenditure, they just said, go with them, pay £10 a month less then we will pay with the IVA, and in 4 years we will bw debt free, (yeah, right)

Would you like to name and shame this highly unprofessional company on this forum?

They do make a fair point about shared ownership properties - not that IVA's are unsuitable for debtors with such properties but that it can be difficult to effect a future equity release.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Sounds like you need to be firm with them. Tell them that by initiating unsolicited contact with you that you consider this a cold call and therefore in breach of the Privacy and Electronic Communications Regulations 2003 and that you will report them to the Police. When I do this at home I usually get a dead line within seconds! While you are at it I would register with the TPS as well.

Julian Sampson
Solicitor
Wright & Wright LLP
www.wrightandwright.com
See my article in Clean Slate magazine

I will tell them that if they call again, thanks.

I've just checked them out on their website - hmmm - rather dubious they can't spell the word 'explained' correctly on their home page - how professional is that!!!

And I like the advice that Julian gives - although usually I adopt the tactics of as soon as I find out whihc company they are calling from I say I'm not interested and put the phone down!

You should have seen the info pack they sent!
It had a cartoon picture of a big breasted angel sitting at a computer and their slogan was even worse, "say goodbye to debt and Halo to a brighter future"!
Didn't really reflect the seriousness of debt problems but did make me smile!

Hi
Yet another reason for debt management companies to be tightly regulated.
There is no place in the industry for companies like this,high pressure,incorrect info and amateursh literature.I bet bona fide companies like Brightoak must cringe when they read of this type of thing going on in the debt management world.
Stick with your IVA proposal
Regards


Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp