Am I the only one without a DMP/IVA etc?!!

In_Search_Of_Me

Reading through various posts I realised that most people have a formal DMP/IVA & was wondering whether I was the only one who hasnt got one!! Whan I had my lightbulb moment I contacted CCCS who were lovely (although I cried most of the way through!) but didnt get to my "long" interview because I worked out by then that I can afford to pay the debts back without it (although its going to take years!). Just wondered if I'm on my todd paying of huge sums without one! :rolleyes:

Chortle_2

Nope - there are lots of us here going it alone and snowballing, me included

mattp_3

if you went into a DMP you would still be paying back the full amount of debt, it would just take longer (as the payments would be less than your contractuals) - so if you can tighten your belt and meet the contractual repayments it will make life a lot easier in the long run.

I wouldn't worry - you are lucky really as some people can't afford to pay anything at all??

Broken_hearted

Me too they told me to go bankrupt so I had to go it alone. I enjoy controling how much I pay.

Broken_hearted

Also I can offer full and final settlement figures to get rid of them quicker .

lynzpower

Nope, I dont.

Dont really need one, although I did consider bankrupcy at one point, but no need for me. they woudnt have accepted it either I woudnt have thought,

dottyanne

Nope im doing it myself too - and flaming well hard it is too! however i would like to at least try to sort this mess out myself!! dotty xx

Kevicho

Im DIY'ing it too

I think this ultimately will benefit me in so many areas such as

Money management
Record keeping
Self Discipline
Dealing with people

and so on, which will fit in perfectly with my near future ambitions to start my own business

Good luck!

Frugal_Fox

And me....

We even considered selling our home to pay off the debts and to rent to put us back, but lean living has been the way forward. Also I'm currently taking action against Lloyds TSB for bank charges - and once the funds have been returned - and the overdraft paid off I'm putting the rest towards clearing my debts.

Emmzi

I'm DIYing. Although it's great to meet people who are DMPing it, as it takes away the panic I feel at taking a lower paid job - that there IS another way!So I am VERY glad the IVAers and DMPers are here! I may need their advice soon!

vyvyan_2

Another one here going it alone, although I'm always very interested to read all the others and their methods.

So far, I've not had to get to the point of failing to meet minimum payments, that would be the turning point I would think.

So DIY is the way for me - I've increased income by selling stuff on Amazon, had my hours increased at work and done some overtime where possible. I've decreased outgoings more than I thought possible.

I've cancelled 3 store cards (only one had a balance & that got paid off as a priority). I've cancelled 3 credit cards and a Next account. I've moved some of the balance on one credit card to a cheaper rate card. The rest of the big balance is now on a slightly lower rate as I did a bit of begging to Barclaycard & I've just reduced my credit limit by £2k. My next target is to apply for LOB low rate card. My loan is fixed unfortunately, but I'll deal with that once the credit cards are done with (in about 18 month to 2 years time, snowball says).

Most importantly, this site keeps me sane and has given me the incentive to do this!!!

Oooops that turned into an epic post!