Review from FM (1978 views)
Review of: Debt Lifeboat
Review date: 04 November 2014
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: 2 days
Weeks to IVA proposal after decision made: 2 weeks
Weeks to IVA accepted/rejected after decision made: 5 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:10 out of 10
Overall Insolvency Practitioner Rating:10 out of 10
I was a company director with £125k debts, in 2008 neither I or my business could support this level of debt, I considered bankruptcy but was pointed in the direction of an IVA and Debt Lifeboat
My interaction with the company:
Debt Lifeboat were friendly, professional, prompt to respond and sympathetic to my circumstances.
Why I gave the ratings I did:
I rated Debt Lifeboat as 10/10 because they took away all the pain.
One thing they did - which really impressed me:
Nothing in particular, just a complete 100% professional service.
One thing they did - which I felt could be improved:
Currently I am in full time (non-business) employment, happ and sleep at nights. In the early 2000s I thought debt was sustainable and the way to "buying happiness". I now live within my means and save to buy rather than borrow. The dividend was 52.01/£. Although I take full responsibility I believe lenders did not show due diligence. Also, NEVER borrow on credit cards/personal loans to support a business (Ltd).
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