Review from Mark Rush (1528 views)

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Review of: OHara & Company
Review date: 10 January 2007
Insolvency Practitioner who handled case: Chris Brooksbank
I proceeded as far along as: Failed 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: 7 days
Weeks to IVA proposal after decision made: 1 weeks
Weeks to IVA accepted/rejected after decision made: 1 weeks
 
IVA Company Ratings
Their debt solutions expertise: 4 out of 10
Their customer service: 2 out of 10
Their speed of response: 2 out of 10
Overall Company Rating: 5 out of 10
 
Insolvency Practitioner Ratings
The quality of IVA proposal: 7 out of 10
Overall Insolvency Practitioner Rating: 7 out of 10
 
My circumstances:
Web design firm with 2 directors had trouble with crown creditors raking up 38k+ debt... had a number of large projects fail part way through which ment lost of revenue that year. this accompanied by customers not paying throughout december ment that we didnt have enough cash in the bank (despite having bax transfers underway) the bank stopped communicating with us and our hand was forced.
My interaction with the company:
Introduced through business link advisor. advised to go into a cva. we went to a few meetings and signed some forms.
Why I gave the ratings I did:
i now believe we should have liquidated instead of going into a cva because a CVA is a long commitment whereas liquidating the company would have taken a few weeks. I believe the business link advisor gained some revenue / handout from his referral and that we were not given the facts by business link or oharas. Oharas were very lackluster in their communication with us... not prompting us to pay (we had a few late payments) and being generally slow to respond. when Chris Brooksbank left we were not informed and had to re-introduce ourselves to Simon, a new consultant.
One thing they did - which really impressed me:
made things quick
One thing they did - which I felt could be improved:
communication and helping us weigh the options better. 
Other points
we wrote off 60% of the debt over 5 years (this is now the 5th year) i resigned my directorship yesterday and have new employment - this was a hard choice because i believed the IVA held me to the debt but after a few days research i found that it was relativeley easy to absolve me from this situation (otherwise id have walked earlier) my ex business partner is still maintaining the business.

Community Comments of this review

Quality? Genuine? Date
1 out of 5 5 out of 5 06 February 2007
Comment: The reviewer has not worked out that his company was in a cva rather than him being in an iva.This review should not be on this website!
 
Quality? Genuine? Date
5 out of 5 5 out of 5 12 January 2007
Quality? Genuine? Date
5 out of 5 5 out of 5 10 January 2007
Comment: Looks interesting but is this for a CVA or IVA? Anyway thanks for posting.
 

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Reviewer quotes

  • OHara & Company
made things quick
Review from Mark Rush, 10-Jan-2007
Very quick and efficient.
Review from darkat, 19-Apr-2009

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