Review from Lucy (1194 views)

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Review of: Kingsgate Insolvency Ltd
Review date: 09 July 2012
Insolvency Practitioner who handled case: Gregory John Mullarkey
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: 4 weeks
Weeks to IVA accepted/rejected after decision made: 4 weeks
 
IVA Company Ratings
Their debt solutions expertise: 8 out of 10
Their customer service: 9 out of 10
Their speed of response: 9 out of 10
Overall Company Rating: 8 out of 10
 
Insolvency Practitioner Ratings
The quality of IVA proposal: 8 out of 10
Overall Insolvency Practitioner Rating: 8 out of 10
 
My circumstances:
I am an accountant living in Leicester. I had £27k of debt.
My interaction with the company:
I rang them and discussed my situation. They encouraged bankrupty but due to my professional circumstances, this was not an option - it would have affected my ability to practice as a an accountant. Someone came to visit me at home and discussed evrything with me and explained various forms to me. I then completed and posted these. They created a report of what i owed, what i earnt, and my monthly expenditure. After some small changes, the IVA was accepted at the creditor meeting. They calculated my monthly amount available to pay over. they tried to be as fair as possible, but understandably i needed to reduce the amount i spent on clothes and on food and going out - as you would expect. The IVA is there to help manage your finances not let you continute as previously (and get into more trouble). The payments did increase throughout the IVA period but this was due to my salary increasing - expenditure increasing was also taken into account.
Why I gave the ratings I did:
I found them very helpful whenever i asked questions and i thoroughly understood what was happening.
One thing they did - which really impressed me:
One thing they did - which I felt could be improved:
I submitted quarterly payments whenever i earned overtime with copies of my payslips. They seemed to lose some of this information and asked me to pay in more money. however, i was intelligent enough to see their mistake and after explaining it to them, they accepted my response. 
Other points
I have just made my last payment to the IVA and am waiting for it to complete. I believe I have paid off around 80% of my creditors. I will now be completely debt free and have learnt to manage my money well so that saving for a deposit for a house will be easy!

Community Comments of this review

Quality? Genuine? Date
4 out of 5 3 out of 5 18 May 2013
Comment: Sounds like it could of been written by a member of their staff
 

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Reviewer quotes

  • Kingsgate Insolvency Ltd
They got the IVA agreed.
Review from Neo, 04-Feb-2011
I felt they were dishonest and overly concerned with extracting money with a less than professional ...
Review from KINGSGATERUINEDMYLIFE, 15-Apr-2011
nothing greif
Review from andrew, 05-Aug-2009
Nothing at all !
Review from Stilton2004 , 17-Feb-2011
Only one person stood out from the rest and apart from that the rest were vindictive and non support...
Review from A N Overidge, 02-Jun-2009

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Last 5 comments(for Reviews)

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  • Dear MRS 12, I'm concerned to read your comments on your time with Freeman Jones. Clearly this is no...
  • I am currently in an IVA where Greg Mullarkey is the IP - I find him very rude and unapproachable. ...
  • Sounds like it could of been written by a member of their staff
  • Thank you for this detailed review. I am also a teacher and have also found myself in a position wh...
  • I can totally relate and agree with you on this. They will take far to much than you can afford and ...

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