**Daily chat thread**29th Sep 2008

sammy115

spud30 wrote: »

Hmmmmmmm just had my CCCS annual review. All went fine, can afford to increase payments which will reduce our plan by 5 years

But


She suggested we could look into going for an IVA, and be DF in 5 years, rather than 14 1/2 as it is now. Never even thought of it before. Anyone got any opinions

oooo er, I was going to ask what effect that would have on your credit score but I guess there is no effect if you are not going to be DF for another 14 years......

How do you feel about it spud, (does a small part of you think it would be taking the easy way out - and please don't think I am accusing you of taking the easy way out, I am not, I am just saying what I know I would think. But it must be hard thinking you will have to be in a DMP for the next 14.5 years)

daphne_descends

spud30 wrote: »

Hmmmmmmm just had my CCCS annual review. All went fine, can afford to increase payments which will reduce our plan by 5 years

But


She suggested we could look into going for an IVA, and be DF in 5 years, rather than 14 1/2 as it is now. Never even thought of it before. Anyone got any opinions

Wow spud, that's fab :T

Re the IVA - what are the implications of this? Sorry I don't know much about them - does it clear your credit file completely, or hang around like a default does? If there are no bad implications (particularly if you're not exactly keen for more credit anyway!) and your housing is secure - I think I'd go for it...

edit: what I mean is I think IVA's have their place and maybe this is one of them - IYSWIM? 14 years is a VERY long time. But so is 5 - personally I wouldn't think of it as easy because it's still a long term commitment.

Sammy how does her news make you feel, relieved? I do think these things have a way of working out...

spud30

sammy115 wrote: »

oooo er, I was going to ask what effect that would have on your credit score but I guess there is no effect if you are not going to be DF for another 14 years......

How do you feel about it spud, (does a small part of you think it would be taking the easy way out - and please don't think I am accusing you of taking the easy way out, I am not, I am just saying what I know I would think. But it must be hard thinking you will have to be in a DMP for the next 14.5 years)

That's exactly how I think I would feel Sammy. I spent it all, and would like to pay it all back, even if it does take 14 years (it was 28 years when we started our DMP, so we've already halved it). I've got to admit though, 5 years sounds so much flippin better doesnt it

Daph, our credit rating is already shot, so would have no effect there.

Hmmmmm me brain just turned to mush

sammy115

Spud it does sound a lot better!

Aside from the guilt - I think I would go for an IVA...after studying all the implications of course.....

And DD - yes I could have kissed my childminder. Chloe loves going to 'nannies' and my childminder put off retiring once to mind Chloe when I had her. She has looked after all my children and my eldest is 20! I have no relatives nearby and she is the nearest thing I have to a mother round here.

Although I would still have sent Chloe to the childminders I think it would have had to be on a part time basis and I didn't want to mess her about. I think she kind of made my decision for me.

ZTD

If you fail to keep up with the terms of a DMP - your creditors can whinge and moan and obtain CCJs etc (though see the thread about the new charging orders)

If you fail to keep to the terms of an IVA (for whatever reason), then you will be made bankrupt.

spud30

ZTD wrote: »

If you fail to keep up with the terms of a DMP - your creditors can whinge and moan and obtain CCJs etc (though see the thread about the new charging orders)

If you fail to keep to the terms of an IVA (for whatever reason), then you will be made bankrupt.

That's exactly what I've just been reading Zed :eek:

The more I read, the more I'm thinking we should carry on with our DMP. I know 14 years is a long time, but circumstances change and we could bring it closer

sammy115

True - I love Zed - the voice of reason...not emotions! Can you not give me your wordly advice on my problem.......

14 years is a long time but I bet when you started you didn't think you would halve the 28 years did you.

cat4772

Hello

Am sneaking on here even though I have loads of work to do!

Sammy - yes, it does seem that the decision has been made for you. Good luck with it.

Spud - I know what you mean about debts and paying them off and knowing that you've worked hard to become debt free, but an IVA definitely isn't the easy option (simply because of the potential for things to go wrong). I'd get all the information and make a well and truly informed decision. Good luck

Cat.x

(Land_of)_Maz

morning all!

oooh spud big news! 5 years off DMP is great, and a big chunk off....

i don't understand IVA's or DMP's as such as never really looked into them in my circumstances... i'm sure you'll do what you need to for the best.

Jane - sorry to hear you were feeling a bit meh and ouch at the sore neck. I know what you mean about the housework, mines has been backing up lately: mountains of clean washing, upstairs needs hoovered badly and these last couple of sunny days have shown my windows right up!!!

The washing pile is so bad that when i went to switch off erin's nightlight before i went to bed at 1145 last night, i ended up spending 30 minutes hanging up/putting away the clean clothes mountain that was in her room......!! not normally what i would do at that time of night, but it had to be done! - hey and at least it's clean washing right??!

As you say DD - not enough hours in the day, days in the weekend!!!

Sammy - with your skills you will be working from home and making a blimming fortune anyway! plus i'm sure nannie will still be happy to be the babysitter in the traditional sense of the word once she retires....? are you bringing chloe on the 17th?

(Land_of)_Maz

Cat - you are naughty!!!!!! i love radley although i have only ever been given as presents, never bought myself one...... i think i may have seen what i want for xmas now!!!! oh dear!!!