DMP, IVA, BR??? Which?

bikechic

Hi, do i choose a DMP, IVA, BR?

I'm a social worker with a Local Authority so not sure if BR is the best route.

My mortgage is breaking me. It's £789 per month including £100 arrears which currently stand at £600. Mortgage is on suspended repossesion order.

I can't manage any maintenance for the house and it needs plumbing/heating attention in addition to rotting wood on door and window frames.

My income is £1400 pm with expenditure reduced to come to £1450. None of my existing debts are being paid at all. Debts total £24k. This amount includes 3 x creditors who have put charging orders on my property.

I have spoken with National Debtline who are sending me BR information but wouldn't give me advice as to which option i choose.

I have reduced mobile phone spend, changed ISP to reduce that, barely eat to reduce food. have prepayment energy meters, but house is often cold as i can't afford to put heating on. I don't go out, nor do i smoke or drink. Sad huh? My only vice is Sky tv which is the minimum package with my ISP.

Wondered about voluntary repossession and giving the keys back and renting somewhere - any advice about this? Apparently the house wouldn't be likely to sell as the charging orders remain with the property, they're placed on the 'land'... The debt remains with me, so i'm told? i'm confused.

I've spoken with National debtline who inform me that they can't suggest which is the best option for me just give me info about each option.

How do i know what route to take? This is a very lonely problem which isn't going away.

I'm in full-time education and also studying at uni (work paying), so am reasonably well-educated and understand things well, just don't know what to do.

any suggestions please?

thanks.