Review from Debtfreeatlast (295 views)

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Review of: Debt Lifeboat
Review date: 29 July 2012
Insolvency Practitioner who handled case: Phillip Allen
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: 10 weeks
 
IVA Company Ratings
Their debt solutions expertise: 10 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:
We gradually built up debts totalling £195K after redundancy having paid our mortgage and bills on credit cards and it spiralled out of control.
My interaction with the company:
I rang them and they were very supportive. We had a meeting to discuss all our options and our proposal was put forward. Due to the high level of debt they did suggest bankruptcy but we didnt want to lose our house. With the IVA we kept the house and our cars.
Why I gave the ratings I did:
They took all the financial stress out of our life. Things havent been easy over the last 6 years, but we have finally done it thanks to them.
One thing they did - which really impressed me:
At the end of 5 years we were supposed to release £26K equity from our house. In the current market this was impossible. Geraldine worked so hard getting the agreement changed so that we paid for an extra year instead.
One thing they did - which I felt could be improved:
 
Other points
We are now debt free and living life again. We had £195K of debt and paid just £26K over 6 years. £169K was written off. Thank you Debt Lifeboat.

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Reviewer quotes

  • Debt Lifeboat
When you are promised a call back it always happens, you never have to chase.
Review from Helen L, 15-Dec-2011
gave us our full options and all outcomes for each so we could make the right decision for us
Review from Mark O, 24-Jan-2011
Mid way through my IVA I had a marriage break-up. They arranged with my creditors and the court to a...
Review from Tonyg, 23-Jul-2012
Arranged for a financial advisor to contact me when I could not find anyone to remortgage with.
Review from Angela, 21-Dec-2010
They worked quickly when I was being harrassed, my yearly review was always on time and they always ...
Review from SG, 15-Feb-2012

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