Quote:
Originally Posted by Jabba
Firstly, make absolutely sure that you're not inadvertently signing up to an IVA
|
Agreed, serious credit history bending stuff tthat stays on your record for 6 years.
Plowsie - Ignore this bit in terms of advice 'cos I don't know what I'm talking about here, it's a question. When I was dealing with negotiating my debt IVA's existed, but were not widely offered to consumers, these debt management companies were in their infancy and an IVA was seen as one step away from outright bankruptcy. But I thought there was a law whereby a debtor could only hold a debt against a consumer for seven years, after which time they had to write it off against provision for bad debts on their balance sheets. So if you paid £5 per week for seven years, and still had only cleared half the debt, the other half had to be written off anyway, no IVA required, and no impact on your credit history? Things might have changed.