Review from Mr Watts (1868 views)

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Review of: Debt Lifeboat
Review date: 27 February 2010
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: 4 days
Weeks to IVA proposal after decision made: 2 weeks
Weeks to IVA accepted/rejected after decision made: 6 weeks
 
IVA Company Ratings
Their debt solutions expertise: 9 out of 10
Their customer service: 9 out of 10
Their speed of response: 9 out of 10
Overall Company Rating: 9 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:
My main client went into administration owing my company £280K forcing my company to go into administration owing £200K. Our company was limited liability but unfortunatley i was left with approx £50K Debt.
My interaction with the company:
I was refered to debt lifeboat by a financial adviser and after a lengthy discussion with Phillip Allen about all my options, it transpired that the IVA would be the best course of action to repay the debt.
Why I gave the ratings I did:
I rated the company with a 9 out of ten because nobody is perfect and i felt that they provide the best possible advise for my situation.
One thing they did - which really impressed me:
After 12 months of IVA monthly payments and due to health problems, Debt Lifeboat negotiated a final settlement which related to 29p in the pound of my original £50K Debt
One thing they did - which I felt could be improved:
I felt that i had very little money to live on while paying the agreed IVA monthly settlement.  
Other points
It was not an easy ride working hard to overcome my debt while trying to give my family a nice life.(after all it was not their fault i was in debt, in fact i could argue that it was not mine either!). I started paying 43p in the pound but negotiated a final payment after 12 months which related to 29p in the pound. I am now debt free and happy that this has finally been settled. I would recommend Debt Lifeboat as i beleive they acted in my best interests.

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3 out of 5 3 out of 5 25 April 2010

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Reviewer quotes

  • Debt Lifeboat
The closing process with all the chaos of VAT refunds etc was handled very well.
Review from antlm, 10-Jul-2012
their understanding of our situation.
Review from darren v, 12-Dec-2011
They went the extra mile for us when we couldnt meet the final payment by finding us a fantastic fin...
Review from Keegea, 01-Jun-2012
as foremention. the incident when i was unable to work for a year and they resolved the issuse so as...
Review from j.gorman, 04-Dec-2012
there was not just one thing that impressed me about lifeboat everything they did for me impressed m...
Review from madmal, 17-Feb-2010

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