Credit Today reports that spokespeople for both the Bankruptcy Advisory Service and the British Banker’s Association both had reservations about IVA.com’s offer of a BREAD prepaid credit card, topped up with £50, for clients it refers to IVA companies whose IVA is then approved.
Whilst the website offers a useful starting point and comparison service for debtors seeking IVA advice or for those using an IVA to solve a debt problem, the offer, if intended as an inducement to attract more clients into IVAs, was described as an “absolute disgrace’, reported Credit Today. An IVA should only be undertaken with professional debt advice from a well respected insolvency practitioner.
Terry Balfour, iva.com’s director said that the offer, listed under ‘promotions’ on the iva.com website, was “extremely useful for those who have found it difficult to control their spending and now need to get used to living within their means.”
Payplan can offer free IVA advice and do not charge up front fees as some insolvency practitioners do. Payplan will only recommend an IVA for clients when an IVA will be of substantial benefit.
Call Payplan free on 0800 280 2816 or submit your debt details online for free debt and IVA advice.
Written by on February 18th, 2008
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