can anyone help me about iva info

bigbobby_2

i have debts of 40000 in credit cards and loans i have been contacted by debt line to go in to a iva they tell me i would have to pay 319 pm for 12 to 15 years am i doing the right thing they have allready taken 319 for the first months payment ,i dont want to lose my house will they make me sell and can i get out of it ,i can pay the min payments but that is it iam not in arears yet ,does it come public so everyone can see as i dont want friends and family to know, anyone please help me as iam really in depression about this i know it is my own falt thank you

thecableguy12

bigbobby wrote: »

i have debts of 40000 in credit cards and loans i have been contacted by debt line to go in to a iva they tell me i would have to pay 319 pm for 12 to 15 years am i doing the right thing they have allready taken 319 for the first months payment ,i dont want to lose my house will they make me sell and can i get out of it ,i can pay the min payments but that is it iam not in arears yet ,does it come public so everyone can see as i dont want friends and family to know, anyone please help me as iam really in depression about this i know it is my own falt thank you

This company are not selling you an IVA they are selling you a dmp plan they take the 1st payment from you for there admin charge then you will pay for 15 yrs?? also adding a 35% monthly charge for there profit, an IVA is for 5 years sometimes 6 depending on situation you will pay around the same therefore halfing the debt dont go to these guys and get a refund as you have been mis sold, contact the cccs or payplan and tell tem you want an IVA, iva £319.00 for 60 months = 19140.00 roughly a 49p dividend the plan this company has sold you will take 12yrs to complete and you would be paying more than you owe £45939.00