enough faffing, i need to make a decision

homealone_2

mumoftwins wrote: »

Homealone, on your other thread you were given advice to contact some debt charities to help you through this. I really believe you should get in touch with one of these as you obviously need their help.

There is no point getting yourself to the point of a breakdown when there are professional people who are willing to help you.

Please make that phone call asap - you need their help!

i have already contacted surestart and cccs, cap want to visit your home which i am not very comfortable with and dont really want to wait for how ever long something like that would take anyway. have got an appointment with cccs to do a budget review on 13 feb who would you suggest i call. i do have some time today so i could ring someone else. want to find out if i give assets on a dmp and what would my ipa be likely to be on a disposable income of £500 a month approx, cccs suggested a dmp

homealone_2

can anyone please answer this question so that perhaps i can move on?

dalip

I think all your questions have already been answered but.......on £500 suplus an IPA would be about £250. You could try ringing national debt line number in my sig.Dx

homealone_2

dalip wrote: »

I think all your questions have already been answered but.......on £500 suplus an IPA would be about £250. You could try ringing national debt line number in my sig.Dx

thank you and do you know if they take your assets please?

fiveyearplan

They don't take normal everyday household assets. They also take it on trust that you are telling them the truth and don't have valuable paintings, antiques etc.

So_Sad_Angel

homealone wrote: »

thank you and do you know if they take your assets please?

Morning homealone.

If you do a DMP then I would say that it is realistically worthwhile using your shares to reduce the overall debt in order to repay much sooner. I`m in a DMP at the moment (& failing!!!) & have kept a few shares that I can`t realistically cash because they are in a Company scheme. No-one has insisted that I sell.

If you are advised BR then any asset over £1k will be taken by the OR anyway.

Not sure if that answers your question.

Angex

homealone_2

fiveyearplan wrote: »

They don't take normal everyday household assets. They also take it on trust that you are telling them the truth and don't have valuable paintings, antiques etc.

no,not paintings but i have £3000 isa and some shares belonging to kids but in my name for £4000

Merry_Gentry

It seems like whichever option you go for, you are going to have to cash in the shares (as they are in your name) and the ISA.

homealone_2

ii rang national debtline today and they were the first and only advice service that agreed with the dla ruling that says dla should not count towards income. they also said that with the assets i had it did not make sense i should go bankrupt because not only would i lose them but also have to pay all of my disposable income on an ipa which is currently about £400. he is going to send me a copy of the budget planner we devised today and has suggested i try a self negiotated repayment plan, apparently they will eventually agree if you bombard them with enough letters that they supply for you to copy and send. i must admit aafter speaking to him and downloading the pack that is available to help ou through the process i think it seems to be the best plan for me. however i am a bit confused there is a letter to send out that accompanies the budget plan basically asking them to freeze interest and charges and accept a new pro rata payment. i was told there was something on their website that you could use to work out what pro rata payment you were to offer, which i cant figure out. i have approx £350 disposable figure and owe approx £26000 so when he said i should be debt free in amount 18 months i cant quite work out the math. when i receive the paperwork ii will post his figures and maybe someone on here can help? see if i ask them to stop charges and interest and offer smaller payments than originally set how does it worker out quicker to pay unless you also set a time which is also reduced. they also threw some light on how i should not be receiving letters from the bank charging me £10 for each call they make to me!! anyway if anyone can figure out how the pro rata should work please contact me (full amounts owing to 3 creditors further up in thread) if not i shall call them and ask once all paperwork is through.thanks for all your help guys. i shall bounce over to DFW for all further posts as not going bankrupt in near future. thanks again and good luck to you all xxx

philnicandamy

National debtline are wrong in what they said...IF you have a disposable income of over £99 a month after all your living expenses are paid the receiver will look at an IPA BUT will only take a percentage NOT ALL OF IT

for example....