A Free Bankruptcy, IVA And Simple IVA, Insolvency Advice Forum

[Myvesta-Steve]

We are getting more and more calls from people that are finding it difficult to afford their promised IVA payments as the cost of living increases. I just wrote an article about what to do if you can't afford your IVA payment.

There are some reasonable options available if you let us help.

[jacob2008]

Hi
I quiet agree and to be honest i would like to see an end to companies who charge high fees, my IP'S fees were £7500.00, i got married have a child of 6 months i asked for my payments to be dropped to £214.00 from £414.00 the answer was take a payment holiday, i replied i will go BR. (only my debts)

My mother had to see her Solicitor and i was asked to go along with my wife and baby due to a private matter. I was asked about my debts and when i explained i had paid £14000 in interest only to the banks before i got involved with an IVA.

When i told her that my IP charges £7500.00 set up fee and is allowed to keep all monies, so i am back to where i started her reply these companies are leaches and need to be stopped.

I felt in her office stupid but to her credit she gave me free legal advice and gave me hope of terminating my contract with the IP and all monies will be handed over to my creditors.

There is a law which the IP never followed in our contract and for the last 2 months my IP and his practice have refused to talk to me, then once i mentioned what this Solicitor had told me the letters started to flow again my IP even put it in writing that he will not correspond with me anymore, this guy made all types of threats to myself and my family because i wanted out of the IVA.

I have made a complaint to his body ACCA and also have sent all contracts and documents to the Daily Mirror Investigators I'm 99% sure i can win this case and get the creditors there money which they are owed.

I would ask anyone in an IVA go to a solicitor with your IVA contract and ask them to have a look for peace of mind (not the CAB OR NATIONAL DEBT LINE)(but someone who practices law on a day to day basis).

I would like to say if i had to start from the beginning again i would enter into a payment plan or try to come to some arrangement with my creditors.

Thanks.

Jacob2008

[shanks]

I have been in my IVA for over 2 years now and I am finding it extremely hard to meet my contributions each month. My IP seems to be helpful in times when I struggle but he has warned me that I cant let it slip anymore. I have come to a point now where I cant keep up with it and have sincerely considered BR! What should I do?? Any help would be very useful. Thanks