Questions about Individual Voluntary Arrangements and Insolvency.

Moderators: TalbotWoods, JaneClack

By donna23
#190718 Hi I am new here so forgive me if i have posted in the wrong area,

We have being contected by a company call jefferson hobbs has anyone delt with this company or heard off them please :?: to pay off or IVA Has a RE:mortage

Thank you :)
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By Yogi Bear
#190720 Yeah - they're a company also going by the name of Debtenders: they seem to go in for sending unsolicited mailshots advertising their "services" to people in financial difficulties. :roll:
By wayne_1892
#190804 hi Donna, i used to do work for them, they are essentially a middle man, and make their money doing little else but passing your details to another company. they charge a fortune for their services, and do nothing for you that you couldnt do yourself.
By lioncub
#200865 Have to say I completely disagree with most of whats been said here. I was contacted (admittedly unsolicitedly but then that's how they get business, they make no bones about it) by JH when I was just over 2 years into my IVA.

I owed 72k in total with repayments of £530 per month for 5 years. The thing I didn't really count on at the time though was the equity clause - when the IVA began I had about 10k equity max but 2 years in I had approaching 100k (a little less now but still a fair amount) and by the terms of my IVA the creditors could rightfully reclaim all that by forcing me to remortgage at the end of year 4.

JH set up a creditors meeting, paid for a survey of my property, arranged a remortgage, drafted my final settlement proposal to creditors all on my behalf with NO risk. If the settlement was declined I was not out of pocket at all - they'd even paid the £400 for the survey which they would have lost in the event of a declined proposal.

I'm sure if you were that committed you could do all of this yourself (with some research, knowledge of the industry and great negotiation skills) but let's face it - not many of us have the time, inclination or wherewithall to do ALL that.

My case was settled for £16k which was financed by a remortgage which was at a LOWER rate than the mortgage I already had and my equity was safe. JH fee of about £900 (which was included on the remortgage so I didn't feel it at the time) was WELL worth it in my opinion.

I really don't see what everyones problem is here? they don't claim to be anything they're not, they will hustle, negotiate and work for you to reduce your outgoings and overall debt but at no point do they try to bs you into thinking its all about you - they are upfront about the fact that they WILL save you money but that of course they are in business to make money by helping you - just like any other service provider. My advice to anyone approached by JH or the likes is to read their literature, and make your own decisions. Ask advice sure, but don't dismiss something just because it was unsolicited. Surely it makes sense for them to target people they know how to help and who may not know there are ways out of their predicament?
By plasticdaft
#200885 So with 100k equity your creditors settled for 16k plus 2 years of payments at 530 a month. That seems to be quite a good deal they got you. Almost too good a deal IMO.

I would stick with avoiding this company of middle men like the plague.

Sorry but I wouldnt trust anyone with such a small posting history who appears to be banging a drum in support of a company which the majority of people have slagged off.

Please dont take offense Lioncub,I believe you probably are geniune and they did a great job for you,but its too easy for companies to set up as users on these forums and talk themselves up.
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By TalbotWoods
#200889 LOL

It gets even better

Jefferson Hobbs company number 4387615

:arrow: Had compulsory winding up order placed against them on 18/10/2006.

:arrow: Were in full insolvency administration from 02/03/2007 till 20/12/2007

:arrow: And entered into a corporate voluntary agreement on 30/11/2007, which they are still in.

:arrow: So basically since 18/10/2006 they have insolvent!!

Soooooooooooo ask yourself a question, would you use a company to 'administer' your IVA who are themselves in an IVA

Additionally there registration with the ICO no longer exists, and to add insult to injury, as they were only licenced as:

7414 - Business & management consultancy
7415 - Holding companies including head offices

It would have been against the law for them to negotiate an IVA F&F for anyone, as this would require a Consumer Credit Licence - Which they have NEVER held.

So Lioncub, I would very carefully check that your money didn't disappear along with many other peoples!!

Nor will we allow our members to be suckered into a 'dodgy' company, which is why we only support PayPlan, CCCS and NDL

By new to this site
#302863 Hi all.

I am now a discharged bankrupt and have been so since January 2012.

I received a letter this morning from Jefferson Hobbs asking me to contact them as they "have a number of issues that we feel may be of interest" to me. Needless to say I am not in the habit of contacting "junk mail" providers or speaking to "cold callers" so I did a little bit of research and found this website. I read all the posts under this subject and decided to call them.

When I got through and gave the ref number they quoted in their letter I got all the usual (and very obviously scripted) spiel from the chap there telling me that they could help me with post bankruptcy issues - LMAO - and did I have a few minutes to go through that with them.

I asked whether they have a Consumer Credit Licence to which he replied yes and I should take a look at their website. I then asked if they as a company had ever had an IVA to which he ignored my question and said I should take a look at their website - I repeated the question adding that I myself had done a bit of research into their company and after a brief hesitation he eventually said yes they had been involved in an IVA themselves.

I laughed at this and said why, when they couldn't manage their own financial affairs, did they think they could help other people with theirs? He didn't reply to this and I then said that the whole thing was laughable and it smacked somewhat of hypocrisy to which his reply was "thank you for your time madam, have a good day, goodbye".

I couldn't resist calling them because, although my business collapsed and I had no choice but to declare bankrupty, I am not by any stretch of the imagination naive enough to get suckered in by a company that can only get its business through "cold calling" and junk mailings !

Maybe this company can do some good for others, I don't know having not experienced their services myself. However, I for one feel that the company is in a very poor position to advise folk on how to manage their finances when they clearly couldn't even manage their own !

I will leave it to you out there to reach your own opinion on this company!