Conflicting BR advice from CCCS & CAB

Trollfever

One of my pet hates are money grabbing advisers who suggest an IVA when the debtor has no assets to protect.

kot

I had an interview last month September with cccs.

£30,000 unsecured debt

Rented property and no assets

£1515 total income including child benefit and working tax credits, child tax credits.

I was offered a DMP which would last 10 years and I had to be earning £1515 per month for the 10 years allowing me to pay approx £260 pm to the plan. This left us with little or no surplus cash and a budget that was soooooooo tight if a tin of beans had gone up in price we would be broke and the plan failed........ not realistic. CCCS recommended I did not go for this.....

I was advised that as I had no assets other than a car (£1000) bankruptcy was the best option. and it was :T

K

Costus

That was my thoughts too Trollfever, but because the CCCS has such a good name on this site i thought it was strange.

When the advisor was saying about a 10 year DMP or an IVA i was sitting on the other end of the phone shaking my head and wondering if he had miss heard what i had told him, we went through it all again, and he still came to the same conclusion, and it seems that i'm not the only person to be given an unrealistic DMP !

Our situations are very similar kot, when i got the info pack from CCCS, like you i worked it out that if things went up by even the slightest amount ( which is very likely in the current climate ) then our plan would fail too.

Especially when i told him about our future plans of having a second child and my OH probably having to give up work completely in the next couple of years, it didn't seem to be registering with him what i was saying that we realistically wouldn't be able to complete the DMP or IVA term.

In through one ear out the other i felt !

We are now starting on our journey down the BR route, as you have done already.

Thanks for your input folks.