Debts that need sorted out

xxhayzxx

Hi

I was in a DMP for 5 years but felt like i have got no where with them and the management plan fee was as much as i was paying so the debt never went down, so now 27k in debt i have done an IVA with PAYPLAN brilliant had no trouble creditors can't contact me and i have no worry about being in debt had many letters about ccjs etc in the past but never actually managed to have one taken against me - luckily. But if i am seeing correctly your only about 6k in debt and many places like Debt management will not take people on with under 10K x

Any questions feel free to ask im very open about my debt

clare1510

xxhayzxx wrote: »

Hi

I was in a DMP for 5 years but felt like i have got no where with them and the management plan fee was as much as i was paying so the debt never went down, so now 27k in debt i have done an IVA with PAYPLAN brilliant had no trouble creditors can't contact me and i have no worry about being in debt had many letters about ccjs etc in the past but never actually managed to have one taken against me - luckily. But if i am seeing correctly your only about 6k in debt and many places like Debt management will not take people on with under 10K x

Any questions feel free to ask im very open about my debt

Hi there,

I was told to contact CCCS who are sending me out a debt management paperwork. They dont charge a fee so all the money goes to the creditors. Are you saying it is better not to go with this option?

How does an IVA work?

clare1510

Lensman wrote: »

Just for clarity, have you had default notices for all of these? Therefore no further interest is being charged?

There are some contact details in my sig. Please give CCCS or NDL a ring.

Yes had default notices for all of these so no interest is being charged as far as I know. At least the amounts are all the same in the letters I have received.

I have contacted CCCS and paperwork is being sent out to me to look over and get things sorted so thanks for the contact details

xxhayzxx

clare1510 wrote: »

Hi there,

I was told to contact CCCS who are sending me out a debt management paperwork. They dont charge a fee so all the money goes to the creditors. Are you saying it is better not to go with this option?

How does an IVA work?

If they are sending you DM paperwork then go for it, but only if they dont charge a fee like Payplan as you will be paying most of the money for the fees and not the debt, just be careful as a lot advertise on the net and say no fees but once u call them you find out otherwise ! i shopped around. My DMA was with Eurodebt and i was paying the £40 odd pound a month just in fees and also paid them £2000 upfront to take me on (that was 5 yrs ago) then i contacted Payplan to talk about DMA and then the talked me through everything and i decided on the IVA which to cut it short i pay 60 payments then the rest is wiped but 70% of the creditors had to agree to it, which they did. Apart from i pay weekly so i will pay 200 odd payments, i had no nasty calls from creditors infact i have had hardly any calls and when payplan arranged telephone meetings the stuck to the time as soon as the clock stuck 8am or whatever time i had agreed they called not a min late, which was good as i knew it would be them.

Remember not everything works for everyone, im 27 single with no kids, just remember to read all the small print and think it thru carefully. if u dont have many debts you could even make direct agreeements with the company sending the letters to you.

Just to add that my creditors all accepted approx £1 each while i was out of work for nearly 2 years, one thing i would suggest is dont stop paying them all together because you cant afford it just pay them a token payment of £1 and this will help if in the unlikely case they do end up in court it shows you are trying and as i said above i even got it in writing from them all that they would accept £2 a month one letter said until 2021!!!

fatbelly

clare1510 wrote: »

The two other adults in the flat are just my flatmates. Bills and things are included in the rent so there are no bills split up and obviously their income doesnt come in to it.

So your SoA should read

number of adults in your household ...1

Best of luck with your dmp - that should work for you.

Don't touch an IVA with a bargepole - totally inappropriate for you.

lilian1977

How are you getting on Clare?