Help!

newbeginings

Please can someone advise us of the best route to take?
After much mulling over paperwork and juggling figures we have realised that we have in serious debt problems. We have spoken to payplan who have suggested a DMP which will take us approx 20 years to pay off our debt.
We have also spoken to acompany called Accuma who have suggested an IVA which would mean 5 years to be debt free.

We have managed to get ourselves into this mess, but do not know which method would be best to get out of it.

Please can someone with more experience advise us? We feel like we are going round in circles.

newbeginings

Emmzi

Newbeginnings,

Well done you for taking some positive action in the first place!

Ask Payplan if they feel and IVA may be suitable, and if not, why. Best to stick to advice from one place and get them to go through all your options. I believe Accuma have a vested interest in getting you to take an IVA as they will earn fees from it. Now, so will Payplan, but as they have started by suggesting the 'no fees' option i.e. a DMP, they are more likely to give impartial advice.

Can you get another appointment with them?

And don't panic. When you are ready, read the post 'first time posters' at the top of this board, and post an SOA. Whatever route you choose, the people here will be able to help you shave all you can off your expenditure, to leave you in a stronger position.

isgman

Pop into your local CAB, as they will be able to give you "Face to Face" advice.. and it's Free..Welcome to DFW and Good Luck

newbeginings

Thanks for help, I'm working on SOA now and will post it later.

System

Yep defo ask payplan about IVA suitability. Avoid fee paying companies. Welcome. Isn't that lightbulb moment joyous!

newbeginings

To do IVA with Payplan would mean we couldn't keep our car, which is essential as I am disabled and we live in the country where public transport is almost non existant. Accuma on the other hand say they can do IVA and keep us the car.
We don't know what to do.

abbecer

I would suggest you list all your debts on MSE and let's see if everyone on here can help with ideas. It would be easier for people to give good advice if they knew a little more. If you are uncomfortable with this i would definitely recommend CAB.

Good luck with sorting it all out.:j