Newbie or am i??? Advice please!!!

bankroller

I just want someone to plllllease tell me what to do! If not advice would be good.

I originally tooke my DMP out with cccs around 4 years ago for just over £30,000. This was loans, cc etc. All unsecured. Stupidly i didnt add my catalogues onto this as i wanted to keep ordering from them. Now £30000 i cant afford the repayments and wanted to add them to the DMP. Cccs are having a hissy and saying im in breach and i need to send statements etc, but looking like they wont add them on or at worse kick me off. Has anyone been in this situation?

I live in rented accomodation, ive since had 2 babies since starting dmp so dont work and only pay £100pm to them. I have nothing to give basically except............ my car

My car which is financed in my dads name currently worth around £6000 wth 2 an a half years to go has me as the registered keeper. National Debt line told me (if i filed for br) the car would be sold and my dad would have to pay the finance. How harsh!! I cant do that to my dad but desperately want to file for br. Any tips or ideas? My husband uses the car every day for work!!

Please help!!

Tixy

I have heard of other people where CCCS have stopped administering the DMP because people haven't stuck to the agreement not to take on any more credit. So I guess this is quite a likely outcome. In which case you could either try to self manage your DMP, but to add in the new debt obviously the existing creditors will be getting much less than they do currently, so realistically I wouldn't expect them to give you an easy ride.

Do you mean your catalogues are £30k in addition to what is in your DMP or do you mean that in total your debts are now back up to £30k?

When you say the car is financed do you mean its actually a secured loan on the vehicle? or just that he borrowed the money on a loan for you to buy it?

How old are your kids? when are you likely to be able to start working again? can you look for work at the evenings weekends when you husband can look after the children?

bankroller

So you think its likely they will sack me off when i send the catalogue statements in? My catalogue debts are £3000 which would take my total debt upto around £32000.

WIth regrds to the car, my dad signed the finance at the showroom for me. Its not HP so im assuming it would just be classed as a loan he has took on my behalf.

My kids are 18 months, 36 months and 9 years. To be honest after spending the day with them its more exhausting than any job ive ever had. So to go out and work the evening seems impossible. Also my husband doesnt have a specirfic finish time he is home when home.

Do you think br seems the best option for me? What do you think the OR would have to say? I honestly cant remember what the debt was spoent on. Just living beyond my means really

Moneysavingginge

Put the car in your dads name???

JCS1

Can you double check whose name the car finance is in and whether it's HP or a loan?

JCS1

Moneysavingginge wrote: »

Put the car in your dads name???

If you do go BR, then the OR can reverse this as it would be seen as disposal of an asset.

Happytogetdebtfree

i think that will be sussed on br if you sign things over.... and then file for bankruptcy i know someone mentioned this before on another thread re signing an house over etc etc

bankroller

Yes deffo just finance and not hp. What if i signed over to husband who uses for work, would this not be taken into consideration? Didnt want my mum an dad to know about the br really.

What about if i signed to my dad who then got rid (we had to give up as we couldnt afford the finance)? WOuld that work?

Would u still think in my situation br is the best option?

Happytogetdebtfree

it would help if you posted a soa

JCS1

bankroller wrote: »

Yes deffo just finance and not hp. What if i signed over to husband who uses for work, would this not be taken into consideration? Didnt want my mum an dad to know about the br really.

What about if i signed to my dad who then got rid (we had to give up as we couldnt afford the finance)? WOuld that work?

Would u still think in my situation br is the best option?

If you sign it over to anyone then the OR will look to reverse the transaction, they can also check at DVLA.

You would need to prove to the OR that the car was necessary rather than nice to have. Given the value of the car being £6k they would look to sell this and may give you an allowance of up to £2k for a replacement if they agreed it was needed.

Please speak to one of the free debt charities, and if pop over to the BR board if you have any queries. There's a sticky at the top of that board with useful information, FAQ's, etc.