Help help help me please with my debt!

bubbles143

Hi all,

Im very new to all this so any advice would be great!

I am currently in 52 thousand debt and have a DMP with payplan, they estimate that I need to pay £200 monthly for no less than 21 years OMG!!!! Therefore I am looking into doing an I.V.A

My questions:
Which is better CCCS or payplan?
If my creditors say NO (sainsburys loan is £38,000 so has majority vote) can I apply again? as I heard you can only apply once for an I.V.A
Should I answer the phone to all the threatening calls I am currently receiving from Blair, Oliver and Scott - why are they still bothering me when I have an arrangement in place with payplan which all of my creditors have agreed to?

Sorry for so many questions, any advice would be greatly received x x

Tixy

Hi and welcome

I guess BOS are phoning and hassling because they too have worked out how long it will take to pay off your debts. Have you ever sent a telephone harrasment letter to insist they only contact you by post.

Have you spoken to Payplan about an IVA. Its a serious step to go for an IVA so I'd suggest you need to talk to at least 3 companies to get a real idea if its right for you and to see how much you will have to pay in fees. I'd personally suggest you'd made sure one of those 3 companies was CCCS.

Have you read this IVA guide - http://www.moneysavingexpert.com/loans/pdf-iva-guide.pdf

Have you also considered bankruptcy (not saying that is the route to take but just wondering if you had considered all options).

bubbles143

Hi,

Thanks for your advice, I have considered going bankrupt but my husband went bankrupt about 5 yrs ago and im worried that we will never be able to get credit again!!

I have sought various advice re:I.V.A one independent advisor wanted £750 to set one up, thats before my creditors agreeing, so I could lose that money for nothing!

My mother is insistent that I get settlement figures for all my debts, but I don't seem to be able to, everytime I ring they put me through to a debt recovering company! do you know how I go about this if its possible?

Thanks so much for your advice x