Payplan and IVA HELP!! PLEASE!!!!

ach_2

im going to try CCCS. they seem to have more poisitve reviews than payplan

Zulu_Dawn

Hi Ach

It has taken a few months to get things sorted and I got a couple of fees whilst this process was ongoing. However they are now only £12 so were less painful.

I am now in the position where I am getting no charges and have reduced my monthly interest payments from well over £1,000 (big debt I'm afraid) to virtually nil (just bank overdraft as I have not yet included them).

I would urge you to try and squeeze a bit of comfort into your SOA. I had to negotiate a couple of higher payments than I wanted to certain creditors (MBNA in particular) to get interest frozen. It was therefore important that not only could I live within my SOA but I had a small comfort factor built in.

However do not put your comfort into discretionary spend or things that could be seen as extravagant (smoking, clothing, sky, mobiles etc.) That sort of thing will simply not be allowed.

As I think I've already said, ensure that you can meet your commitments at all times. If you go defaulting on reduced payments, I think it will end in tears. I have not done that, which has made the process reasonably painless.


ZD

ach_2

thanks mate, appreciate it. i just filled in the calculator on CCCS and it recommended a DMP, payments of £1000 a month now down to less than £450 which seems like a god send for now.