in debt not sure what to do ?

dmporiva

to start out me and my wife were doing very well in life and lived the dream fast cars loads of money etc.

then my daughter got sick and we spent 3 years in and out of hospital with her fighting for her life .
this changed our life and ment that we spent all the money we had and also ran up bills to around 55k

we have paid some of this off and now owe about 42k.

we have started a dmp with payplan and all is going better but we are going to take 13 years to pay the money back.

now i really do want to pay as much back as i can but i dont really want to be paying this for 13 years.

i know i could go into an IVA which i dont really want to do.

what other things could i do ?

if i could get some money from my mum to pay some of the bills would i be able to offer a settlement ? how does this work .

or is there any other ways that i can reduce what i have to pay back .

thank you

fatbelly

Do you own your own property? Is there equity in it?

miss_missy

hi and welcome
sorry to hear about what you have been through and hope your daughters doing well now

why not post your soa on here ues the link below
http://www.makesenseofcards.com/soacalc.html

then you can get some advice on some areas you may beable to cut a little more so that you can save and hopefully in the future make full and final settlements with your creditors, i have never done this and as we have reduce payments our creditors would never accept but lots of people on here have done this and it would reduce the time your paying back i read about people saving thousands doing this

im sure there will be others who come along and could probably tell you more about doing this, i do believe it is better to save and try for full and finals instead of paying a little more every now and again but once again someone who knows a little more about this would be able to advice you on this

well done on everything youve done so far