Help and Support Needed

Clare1985

I need some advice, my mum and dad have debts of £27,000 with different credit cards etc. My mum and dad are not earning enough money to pay the debt off each month. Once all the other bills etc are taken out she is left with about £27.00 a month to pay to the creditors when realistically she needs over £700 a month to pay creditors.

My mum gets really down in the dumps over this, she has always been the one to sort the bills out as my dad can't read or write. Its now got to the point where she cant pay some of the bills. I rang and spoke to a company that offer IVAS and they are going to send us some forms out etc. I had to speak to them as my mum gets really upset over the whole situation. They recommended that my sister who lives at home shes 20 should be paying my mum some board. They said if she pays mum board they would look at doing an IVA or a debt management plan.

Im trying to support my mum as much as I can, Im only 23 and I dont understand too much about IVAS etc. I have read the guide which was a big help. I just want to help my mum out, but im so worried about the whole situation. I currently live with my partner so I also have my own problems to worry about also. But at the end of day shes my mum and I want to help her.

My dad doesn't work either. He had to give it up due to having a heart attack! After that my mum couldn't pay the mortgage so she sold her house to rent it back. Its such a difficult situation.But I keep hoping that there will be light at the end of the tunnel for her.

If anyone has any advice or tips it would be most appreciated.

dottydora

I think people normally say on here that if there is no property to protect then an IVA isn't always the best option. I would suggest you call CCCS or National Debtline for more info and be wary of someone saying a DMP or IVA is appropriate if only £27 left each month. I'm sure someone more experienced will be along soon.

dreamcatcher73

dottydora wrote: »

I think people normally say on here that if there is no property to protect then an IVA isn't always the best option. I would suggest you call CCCS or National Debtline for more info and be wary of someone saying a DMP or IVA is appropriate if only £27 left each month. I'm sure someone more experienced will be along soon.

I agree here, with a surplus of only £27, your parents wouldn't be accepted for an IVA, and they may find when they do an I&E with cccs or another debt advice agency that they are actually left with a minus amount, they tend to take things into account, that you don't think about on a day to day basis..

Your parents certainly need to speak to one of the debt advice agencies, to find out the best option for them..

Also your sister should be paying something, as this is something CCCS pointed out to me when I rang them and mentioned I had an 18 year old son who worked. They should be paying 1/3rd of their income..

Hope this helps

dottydora

1/3rd? Wow, I bet my 18 year old is glad he's at college and cant find a p/t job then!

Clare1985

I spoke to debt free direct for my mum, but seeing some of the comments on here now i think I should contact a different company.

They told me if mum have at least £100 spare a month they should be able to do something for her. They said if my sister paid £20.00 a week that would make things better.

What other options are there?

Thanks for your help and advice its much appreciated

philnicandamy

Hmm there isnt a barge pole big enough in the universe to touch debt free direct....they're only interested in how many IVA's they can sell to people..they dont give a ***** about what happens after you sign on the line..

dottydora

Again I'm no expert, but if your mum and dad only have £100 spare each month and did a dmp they'd be paying for ever to clear £27,000.00. Many of us have tried and eventually come to the realisation that BR is the best option. I am not saying this is the case for your mum and dad but like DC said, the income and expenditure has to be realistic otherwise any offer of payment be it through IVA or DMP will fail.

dreamcatcher73

dottydora wrote: »

1/3rd? Wow, I bet my 18 year old is glad he's at college and cant find a p/t job then!

Yep, it's high! Bless him he only earns minimum wage, he doesn't pay me 1/3rd, but that is the figure they take into account on I&E when looking at your circumstances

dreamcatcher73

dottydora wrote: »

Again I'm no expert, but if your mum and dad only have £100 spare each month and did a dmp they'd be paying for ever to clear £27,000.00. Many of us have tried and eventually come to the realisation that BR is the best option. I am not saying this is the case for your mum and dad but like DC said, the income and expenditure has to be realistic otherwise any offer of payment be it through IVA or DMP will fail.

I actually never realised my true I&E until I phoned one of my creditors to make an offer of payment pre BR. They went through the figures with me and got halfway before they stopped me and said I was already in a negative amount!

Needless to say I went BR not long after :rotfl:

Clare1985

My mum and dad also have a holiday booked for this year for my mums 50th Birthday, she still has to pay the balance on this. Truth is I know she shouldn't be going but I feel awful because her 25th Wedding Anniversary was messed up when she had to sell her house to rent it back due to my dad finishing work from having the heart attack.

dottydora

dreamcatcher73 wrote: »

I actually never realised my true I&E until I phoned one of my creditors to make an offer of payment pre BR. They went through the figures with me and got halfway before they stopped me and said I was already in a negative amount!

Needless to say I went BR not long after :rotfl:

That was similar for me. I tried hard to convince myself that we could live on meagre amounts in order to pay creditors and despite speaking to National Debtline and a fee paying dmp company (who 'fiddled' an I&E so they could get their cut) I still didn't see it until I spoke to payplan and then National Debtline again 6 months later.