Everlengthening IVA - Ombudsman Response

[aguise]

I also think the creditors pay as it is coming out of what they would get.

Ang

[welshman]

Put it another way, I was in an IVA for six months, paid about four grand over, of which none went to my creditors, it all went in fees. So, I paid the IP. There is no other way to look at it in my case. It may be different in other cases but it wasn't in mine.

[welshman]

Oh, and in case anyone thinks I'm totally against IPs and IVAs, I'm not. I just think my IP was too quick to recommend an IVA when they knew I had no assets to protect so I think they were only in it for the money. The fact that they were totally unhelpful after taking my money really wound me up.

[Adam Davies]

Hi
Yes in your case you did directly,and this is the danger of an IVA that fails early on.
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

[chris_]

Hi All,

Your points are are good debate for most IVA's and probably all new IVA's, but I remind you that my IVA(and I wonder how many others?) has a clause stating that I will keep paying until my creditors reach 75p/£, and as such it is me that has paid my IP's fees not my creditors.

Not bitter at all

Chris.