Am I doing the right thing??

skibadee

Have been on DMP with Payplan since Feb., had to reduce payments last and this month due to reduction in my wage due to being off work ill......hence it will now take approx 18yrs to repay debts...not including creditors who still haven't stopped adding interest.
Have spoken to CCCS as was considering BR....they've actually adviced IVA with repayments approx £316 a month.....have had first telephine appointment with them..when IVA was recommended...have recieved paperwork and have next telephone appointment with them on Wednesday.
I have read Martin's IVA guide......but considering the amount of my debt approx £58K...feel that maybe an IVA would be the best option????

Valley's_girl

Hi Skibadee I am sorry I don't have any advise I can give you but I am sure someone will be along shortly who will be able to advise you. Good luck for wednesday.
Ally xx

Jacks_xxx

Hey sweetie,

If we're talking about CCCS the debt charity then I more or less trust them - so if they're suggesting an IVA as your best option then it probably is.

I know they don't suggest it very often.

Is the £316 a month going to be Ok for you?

Love Jacks xxx

Deep_In_Debt

Hi Skibadee
As Jacks said, CCCS will offer advice in your interests only so I would say if that is what they have suggested then that is appropriate advice. Do discuss it further with them though if you have any doubts. If you are not sure at the moment, you can still continue with your DMP until you are sure.

As I say, I trust the advice given by CCCS.

dancingfairy

Is it going to take 18years at the new rate or your old rate? I just wonder if your illness is going to be short/medium term (ie a few months etc) and you are panicing about it carrying on like this. Don't forget you will pick up loads of hints and tips on here to help you get debt free quicker and you may well be able to get a better job within the next few years and pay it off earlier.
Whatever you do. Don't panic, continue with your DMP and think it all through and get some more advice if it helps clarify things.

skibadee

Thanks for your replies....feel more confident in proceeding now......felt the advice I was given by CCCS was better than Payplan ... although Payplan have been good and I don't want anyone to be put off contacting them ....but I was in a position where I wanted a secod opinion regarding my situation.
Yes £316 is a sustainable amount the advsor I spoke to was very good.

dancingfairy

I guess you can do a DMP then but if CCCS have suggested an IVA is better then it's obviously up to you to choose which you feel is best for your situation. Why not post a thread with IVA in the title then you might get replies from people who have been through it and those that decided that it wasn't for them to help you see what other peoples experiences have been.
Good Luck whatever you choose.