Myvesta UK Articles

What that debate made clear is that British creditors wanted to arbitrarily set thresholds and hurdles for consumers to cross in order to get access to the binding powers of the IVA. At the time many were in an uproar. Insolvency Practitioners were beside themselves, regulators were perplexed and trade bodies were running for cover.

After much chest beating and legal opinions, you know what happened, absolutely nothing.  Yet, some banks make some really dumb investment decisions and what does the FSA do, put new powers and whistleblower regulations in place.

The poor Individual Voluntary Arrangement (IVA) in the UK has been taking a beating in the last twelve months but new worries are afoot. Between the creditors hijacking this debt relief solution that falls under the control of the Insolvency Service, other creditors refusing to accept payments in an IVA and now this, we'll have to have some pity on the IVA.

Interesting announcement just out about banks and IVA providers have come to an agreement on IVAs. Somehow I don't think it's really over.

Frankly I’m getting a bit sick of people blaming misselling of IVAs as a problem of greedy commercial IVA providers.

You see while people keep using this phrase, what does it really mean and how can we regulate against IVA mis-selling.

There seems about as many ways of spelling misselling as their is of problems occurring in the IVA process.

So I was just reviewing a look back at the success of Chapter 13 bankruptcy n the United States following tougher repayment legislation and bankruptcy reform in 2005. The results will surprise you.

What the hell happened to IPs and standing up for consumers and themselves? Bill Burch contributes his thoughts.

It is just so ironic that Insolvency Practitioners and Individual Voluntary Arrangements (IVA) providers have been so attacked by lenders and creditors for marketing, but aren’t these many of the same underlying banks and lenders that have profited from making subprime loans?

I figure that when I write I share a bit of myself so I wanted to bring you inside my reversal of a position on debt assistance and consumer debt help. What once many felt was right, is no longer so.

As a follow-up to an article last week about alleged mis-selling of IVAs, another company was brought to my attention that is sending out hand addressed letters that appear to be trying to convert active IVA plans to something else.