Well,
About 6 months ago I realised we were in a bit of a financial mess so went along to see CAB, they confirmed the situation, as it was I hadn't defaulted on any payments but zero percent interest rates were about to end and savings were all gone. I wanted to be proactive.
I was referred to one company who suggested IVA was the way forward, I had heard IVA's but it seemed like a very scary prospect. Several emails and phone calls later with the CAB recommended firm had me much more versed in the world of IVA's, but it was still a scary prospect, so I decided it was not for me, and instead opted for a DMP. I used stepchange to arrange the DMP,they were very good and free.
Fast forward 6 months and I had had a bit more time to think about things as the pressure was off with the DMP in place, the DMP was going to take an awfully long time to clear, more than 20 years, yes a lot of debt and littles excess per month.
I once again spoke to the firm I had done initially about IVA's they were still keen to help. I decided to do a bit more research and discovered this site, what a educational gold mine ! Thanks so much for everyone that posts here. I soon discovered the company that were keen to help had a bit of a reputation for certain things so I started fishing around and reading more about various IVA solution companies/providers. The small hours of the night were taken up with each and everyone's posts and personal battles and tribulation and success stories.
I decided to cast my net a little further and engaged in dialogue and email with 2 more firms who are present on this site which appeared to have good reviews along with the original firm which I now had a few reservations over, thank goodness I didn't jump in feet first 6 months ago !
Through research, I discovered the "lump sum" IVA, could this be for me with the help of my ever forgiving helpful relatives, firm A said no, the pence in the pound was far too low and it wouldn't be accepted and I wouldn't be allowed to include x,y,z in my monthly I&E. Second firm didn't greatly seem interested in this and third firm thought it would have a good chance of success for various reasons and my I&E seemed reasonable.
Reading about the emotional roller coaster everyone experiences over the 5-6 years I had to try this lump sum IVA, the firm could not have been more helpful in their understanding, assistance, drafting and redrafting of the proposal and what felt like a genuine partnership approach and the willingness to work together "get it right" and not stitch ourselves up for a failure. They took everything into account, not just the snapshot of our lives now, but how they will likely change over the next 5 years based on our family dynamic and unique employment situation. I felt like there was a real understanding and I'm being treated as a person, not just a case reference number.
2.5 weeks ago today they put the proposal forward to creditors and I found out today it has been accepted, a one off lump sum IVA, such that we will not be bound by the 5 year requirements, just a maximum of x months as a maximum and shorter once the money is paid in and relevant paperwork and settlements processed.
And the firm and team who made all of this possible, McCambridge Duffy, I can't extend my gratitude enough to their assistance in getting this far, a thoroughly professional , A class service so far.
My situation is no walk in the park, a lot of creditors, a non run of the mill situation and nothing seemed too difficult, despite me constant "just one more question" Columbo style approach to things, I'm somewhat thorough when it come to having an understanding of things before committing to them (obviously with the exception of ending up in a financial conundrum initially :-/) and they answered all my questions.
I appreciate nothing is done until it is done and I am yet to go through the settlement, completion, certificates, checking credit records process etc that I have read that everyone has a unique experience of, but I am optimistic the level of professionalism will continue.
Based on my personal experience so far I felt I must share this positive experience so far, if you're considering an IVA, when speaking to your selection of firms to get a view I can genuinely recommend them as one worth consulting with who took the time to properly understand and help me with my situation (so far).
Michael Peoples @ McCambridge Duffy
http://www.iva.co.uk/forum/pop_profile. ... ay&id=8021
I am a cynic by nature and fully recognise that in this day and age that "sales" is an area that gets great focus to lure the customer, and thereafter the customer services can be a shocking experience, I don't have that feeling at the moment, (I think I would have if I had gone with firm A and then found this site), I'm feeling positive....
I hope to be able to submit an IVA completed post in the not too distant future detailing the next segment of my IVA journey, hopefully, it all being a relatively short lived journey.
