Review from Bowen (218 views)

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Review of: Debt Lifeboat
Review date: 20 June 2012
Insolvency Practitioner who handled case: Not Known
I proceeded as far along as: Accepted IVA
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: 1 days
Weeks to IVA proposal after decision made: 2 weeks
Weeks to IVA accepted/rejected after decision made: 5 weeks
 
IVA Company Ratings
Their debt solutions expertise: 9 out of 10
Their customer service: 10 out of 10
Their speed of response: 10 out of 10
Overall Company Rating: 10 out of 10
 
Insolvency Practitioner Ratings
The quality of IVA proposal: 10 out of 10
Overall Insolvency Practitioner Rating: 10 out of 10
 
My circumstances:
Over several years from 1998 to 2005 my debt began to grow. this was mainly due to 15 year relationship coming to an end and having a good paying job that changed. My debt was at £70k and I need help. By 2006 my I considered all options and then I read about IVAs.
My interaction with the company:
One phone call changed my situation and enabled me to make a decision that would enable me to meet my monthly payments within my means.
Why I gave the ratings I did:
The team at lifeboat were always professional and always returned calls and letters quickly. No questions however small was an issue.
One thing they did - which really impressed me:
During the last year of my IVA I lost my job and Lifeboat worked through this with me and managed to close the IVA a few months early. This was great news when I was so close to completing the agreement.
One thing they did - which I felt could be improved:
 
Other points
I am now back in work and have learnt to keep to a budget and only spent what I have. Ive also only use debt cards and will never use credit cards again. My £70,000 with multy creditors was reduced and they received a dividend of £17,500 (24p on the pound) thats a writeoff of £53,000 of debt. No way I could ever hoped of repay this amount.

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Reviewer quotes

  • Debt Lifeboat
Phillip would earn no supervisor fee if I went down the bankruptcy route, but gave me complete impar...
Review from Graham, 29-Apr-2013
They managed to keep the vast majority of my creditors at bay whilst the IVA went through. Without a...
Review from Matt, 26-Feb-2010
When ever I called for info or for statements or advice they always got back to me
Review from ssb, 09-Mar-2011
Their performance and conduct throughout was very professional
Review from Andrew H, 05-Jul-2010
There total understanding whenever I was struggling with any payments during the last five years
Review from Barbara, 12-Mar-2012

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  • I am currently in an IVA where Greg Mullarkey is the IP - I find him very rude and unapproachable. ...
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