Horrible debt - Help!

sailingdom

CCCS and what have are very good but if you want to do it yourself you should just write to the relevant companies and explain your difficulty.

Companies would be far far more interested in you offering to a structured pay plan and paying it off than having to write it off by you going bankrupt.

An IVA is quite simply an Individual Voluntary Arrangement which you can set up, paying them a smaller amount for a fixed period of time. At which time the Company can write it off over a longer period of time and claim back taxes on it.

Hope that this helps

climbgirl

sailingdom wrote:

CCCS and what have are very good but if you want to do it yourself you should just write to the relevant companies and explain your difficulty.

Companies would be far far more interested in you offering to a structured pay plan and paying it off than having to write it off by you going bankrupt.

An IVA is quite simply an Individual Voluntary Arrangement which you can set up, paying them a smaller amount for a fixed period of time. At which time the Company can write it off over a longer period of time and claim back taxes on it.

Hope that this helps

Ahh no, that's not quite right! CCCS and Payplan offer far more options than bankruptcy, that is an absolute last resort adn I don't think the OP has reached that point yet. They deal with DMP (debt management plan - which is basically a structured pay plan as you suggest) and IVAs and other options as well.

And banks would rather deal with CCCS and Payplan when setting up payment plans because they have a good reputation and have experience in setting them up. Trying to deal with the banks on your own to set up a payment plan is difficult to say the least - CCCS and Payplan will help with this.

sanfrancisco

surely if you sharing then all the bills are halved? Or is council tax 144 on a 2 bed property?