Diary of a Poor Person aged 46 1/2

mrscmr

avon orders:week 1 - 95.09 so far! my target was 78 so beat it!
more orders due in!

kissjenn

What a superstar. Well done!!

churchrat

hi
I have just read thro a lot, but not all of your stuff and just wanted to say how great you are doing. I have been there, like sooooooooo many others on here, and know how hard it is. Just wanted to say about the IVA thing.

As kissjen says iva and bk are related. If you fail an iva, ie don't make ALL payments on time, then you can be forced into bk. (some ip's will allow repayment recalculations if your situation changes) This will have an impact on the equity in your home. I also don't know the rules in an iva re-private schooling. I don't think it is allowed in bk, unless there are very good reasons why a child HAS to stay at a certain school.

With a dmp you have far greater control of the money, eg what date you pay, how you pay etc. You do not have to go with any company, and can go it alone. We did this, and I prefer it that way. There is a thread on the dfw board for people that do this. The down side is that you have to make all the phone calls and deal with all the letters.

If your situation changes you can make greater payments towards a dmp and eventualy offer full and final payments, which would mean your debt free date would be a lot less than 20+ yrs. When we started ours I had worked out that we would be paying for about 15+ yrs, but its been half that and we are nearly finished.

If you start on a dmp and find that it is not working then you can always switch to an iva--I think it's impossible to do the other way around.

goodluck with it all, you sound strong and I am sure you will cope, even if it doesn't feel that way sometimes.

churchrat

mrscmr

hi church rat! great name!

im thinking of a self managed one properly now. things will be changing and we will be able to pay more so i think a self managed is the way
it will be painful but nothing i can do

i worry about our o'/d though what will happen there?

avon: sales for week 1 - 224.59 !!!!

Happytogetdebtfree

luck is on your side, keep strong with avon orders how much of that is profit to you ? going to have a bath i think xxx

savingholmes

HI mrsc - if you are allowed a dmp I think they are a lot more flexible than an iva - altho I think Jen is probably right to say with the scale of your debt it might be worth taking further advice

dawnybabes

Woohoo about the Avon, thats brilliant ! Is that all of the orders ?

mrscmr

nope n ot all... more tomorrow!

WorriedofSurrey

Hi Mrscmr

Well done on the Avon sales. :j

Not sure how it will work with the overdraft on a self adminstered DMP. Our 2 ODs were included in our DMP and we had to open another (basic) account elsewhere before it started.

Best wishes
WoS

mrscmr

hello all on this very wet and dull tuesday afternoon!

my avon is going well - i have orders to the value of £302! yay me - which earns me £75 i believe! not bad for a weeks work - or rather not much work!

how we all doing? im working my socks off to try to bring in cash!