IVA Review: Mark on ClearDebt (940 views)

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Review of: ClearDebt

Review date: 22 February 2011

Insolvency Practitioner who handled case: David Emanuel Merton Mond

I proceeded as far along as: Free Advice

The solution I opted for in the end: IVA

Speed of response

No of days to make a decision after I spoke to IVA company: 3 days

Weeks to IVA proposal after decision made: 2 weeks

Weeks to IVA accepted/rejected after decision made: 8 weeks


IVA Company Ratings
Their debt solutions expertise:	9 out of 10
Their customer service:	9 out of 10
Their speed of response:	8 out of 10
Overall Company Rating:	4 out of 10

Insolvency Practitioner Ratings
The quality of IVA proposal:	9 out of 10
Overall Insolvency Practitioner Rating:	9 out of 10

My circumstances:

I found myself in financial difficulty after my debt accumulated and in the end I couldn’t manage the repayments. My debts were becoming increasingly worse. I knew I had to do an IVA as I didn’t want to go bankrupt.

My interaction with the company:

There weren’t many IVA companies around 6 years ago, so ClearDebt was the first company I found on the internet. I spoke to Cheryl and she was very nice and understanding to me situation. She explained everything in detail and put me at ease.

Why I gave the ratings I did:

I gave the ratings I did because at the beginning ClearDebt were brilliant. It’s after the IVA was accepted that I have found difficulties. One being when I asked for a variation letter to reduce my payments as my income and hours were being reduced at work. I didn’t find the staff to be sympathetic to this, they didn’t negotiate with my creditors and mentioned that the IVA may default. I felt I was being treated like the bad person when they are supposed to be working on my behalf. In the end my payments were reduced and my IVA extended to the 6th year.<br> <br> Another incident was a Christmas whereby I wasn’t paid my expenses for two months so was short. I discussed this with David Mond and it was agreed that I could have a two month holiday period then this would be added on to my IVA which was appreciated. However when calling a few months ago to enquire what the process would be if I were to settle the IVA earlier I was told that I was in arrears and had to make that up now, also that there was no record that a holiday period had been agreed. I had to pay the two months by borrowing this money from family. There was obviously a breakdown on communication somewhere and again I felt like I was the one in the wrong.

One thing they did - which really impressed me:

One thing they did - which I felt could be improved:

Other points

My IVA finishes in 4 months and it’s going to be a relief, I will never get a credit card again! As I said at the beginning I was very impressed but felt I was let down once I was in the IVA and when I needed support.

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Quality?	Genuine?	Date
4 out of 5	5 out of 5	23 February 2011

How informative was this review?
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Review from Mark (940 views)

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