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Review of: Debt Lifeboat
Review date: 26 October 2011
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: 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: 9 out of 10
Overall Insolvency Practitioner Rating: 9 out of 10
 
My circumstances:
I work in the financial/legal sector and live in Devon. I had debts amounting to £43,000.00, which I could not repay.
My interaction with the company:
After explaining my circumstances they recommended that an IVA would be the best solution because Insolvency could have ended my career.
Why I gave the ratings I did:
They were very supportive, knowledgeable and helpful throughout this process. They re-assessed and lowered my monthly repayments on each occasion that I lost my job to prevent hardship to my family.
One thing they did - which really impressed me:
They were always fair and impartial when representing our case to our creditors during the numerous creditors meetings held throughout our IVA. They worked very hard to prevent the IVA from failing.
One thing they did - which I felt could be improved:
Nothing actually 
Other points
I am still unemployed and hoping to secure work. My Wife is soon to be made redundant but at least as a result of the completed IVA, we will not need to go bankrupt thanks to DLB and Phillip Allens support. <br> <br> I have learned to balance my income and expenditure as a result of this process and to stay in credit. I also never want to go through this again and I will never get credit for anything I cant afford, other than a mortgage one day in the future. The fact I never want an IVA again is no reflection on the service offered by Debtlifeboat however, which has been excellent throughout.<br> <br> Finally my unsecured debts amounted to over £43,000, and that dividends of 24.97 pence in the pound were paid, totalling over £10,700 to my creditors. This is better than bankruptcy for my creditors and at least allows me and my Wife to feel a sense of pride that we paid back something and what we paid was the best we could afford. <br> <br> <br> <br>

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Reviewer quotes

  • Debt Lifeboat
it is very rare these days for any organisation to do exactly what they say they will do and its a r...
Review from jonathan, 26-Sep-2007
Excellent communication throughout to ensure I was aware of each step in the process
Review from M, 14-Oct-2012
there honasty and there helpfulness
Review from julie s, 19-Dec-2011
They get back to me when they said they would.
Review from j king, 16-Mar-2011
The day before the IVA my salary was accidently paid into my old bank account. The bank would not re...
Review from Tarka, 07-Oct-2009

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