End of tether

nearlyrich

gningo wrote:

SOrry, could I ask what is meant by SOA?

It means Statement of affairs see the top of the board for an expanation in this thread

JGWT8M

lynzpower wrote:

yes.

they are getting recommended a lot on here and Im not sure why?

Their DMP's are free like Payplan and CCCS, but you can make a donation if you want.

I don't have personal experience of them but they do seem to take on DMP's for people that get turned down by Payplan and CCCS, like for not having enough each month.

Morglin

Don't go to one of the "debt management" firms - they will charge you a fortune.

Bankruptcy would seem to be a good option here - you own little and have nothing much to lose, and although it will be hassle, at least you can start afresh afterwards.

But, you need to get good, professional advice, so try this link:


http://www.cccs.co.uk/

Good luck

Lin

JGWT8M

perhaps people should read the myvesta website before they judge them.

http://myvesta.org.uk/faq/categories/Myvesta+Programme+Questions/Myvesta+Debt+Management+Plan/

http://myvesta.org.uk/faq/questions/15/What+are+the+costs+involved+with+the+Myvesta+IVA%3F

The only thing they appear to charge for is Bankruptcy Assistance which is £59.

http://myvesta.org.uk/programmes/bankruptcy_assistance_service.html

Payplan - how are we funded:
http://www.payplan.co.uk/how-are-we-funded.php

MyVesta - how are we funded:
http://myvesta.org.uk/myvesta_services_are_free.html

Both are funded in a similar way, even if they write it differently.

Don't get me wrong, I am not recommending them, I am with Payplan who told me they could only assist because my monthly amount available wasn't enough for a DMP but when I spoke to Myvesta they said they would accept me for a DMP if I wanted - it's all a moot point anyway for me as BKY looms.

rog2

I have to agree with JGWT8M - we generally would not reccomend that you contact ANY Private Debt Management Company before you have spoken with CCCS, PAYPLAN or CAB, as many of these companies appear to be more interested in the fees than they are in providing you with the service that you need.
In saying that, though, it would be against the principles of this forum to tar every debt management company with the same brush. Simply by the law of averages there will be as many genuine companies as there are 'pirates'. I think that you can read of some good experiences that people have had, with companies like myvesta - for example they were able to set up an IVA, based on NO payments to creditors for up to one year, for Sandralovescats - her story can be seen in the Bankruptcy Club Thread - which saved her from declaring bankruptcy one week before her hearing.
Equally, for every good reprt, there could be a dozen bad ones - so, in my opinion, it is horses for courses. In the main, the advice to avoid fee-charging companies is the best, but we should, also, cite those companies who are not there purely to profit from our misery.

DramaQueen29

Theres a couple of reasons that put me off bankruptcy - firstly last year when we had money i took out a loan for a driving instructor course - my new career -however as you have to have references etc and be an upstanding citizen as they call it wouldnt bankruptcy put an end to my career choice?
I also have a vehicle on HP - if you go BK this means i loose my transport too?

JGWT8M

It may affect it yes, depends on what they consider an upstanding citizen.

I for one don't group someone who owes money in the same group as someone who stuck a gun under the local garage owner's nose, but some other people may have different views unfortunately (I find those that don't have debts to be the worst, those that have been through it understand).

Have a look here for more info: http://www.payplan.com/bankruptcy.php

Do you not have a close friend who could ring up the instructor course on the pretence of starting the course and get them to ask how pending bankruptcy would affect it? If the finance was aranged through the instructor it could pose a problem, but if it was a personal loan between you and the bank then it's none of their business IMHO.

Not sure about the car sorry, I don't have anything on HP anymore.

I hate to say it this way, but someone else better qualified will probably have the full answer, sorry.

vindalooloo

melaniec wrote:

HI

I don't know for sure but some years ago I heard that if you were overpaid and it wasn't your fault you are not obliged to pay it back.

With this in mind I didn't repay an employer that claimed they had over paid me they did send a couple of letters but i ignored them, they should have done their job right. As i said I'm not sure if this is correct in terms of law but nothing else happend. At the time I could afford to pay it back but it was the principle.

This happened to my my hubby about 10 years ago! He left Cable and Wireless and they overpaid him a months wages. We had already spent it of course so eventually they set a debt collection ?!?!?!? agency onto us!

We're still, to this day, paying it off at £10 a month!!! Will probably be another couple of years before we're free - so please don't ignore.

DramaQueen29

vindalooloo wrote:

This happened to my my hubby about 10 years ago! He left Cable and Wireless and they overpaid him a months wages. We had already spent it of course so eventually they set a debt collection ?!?!?!? agency onto us!

We're still, to this day, paying it off at £10 a month!!! Will probably be another couple of years before we're free - so please don't ignore.

Ive had soem help from a accountant friend whos told me to draft a letter to ask for a letter from them about how much i owe ( which after nearly 2 weeks they still havent provided) they should send me the letter and my P45 plus payslip - if ive overpaid then why arent they donig this so i can set up a payment plan?

Im quite willing to repay - call me stupid but if they dont tell me how much i owe how the heck am i supposed to repay it...

I did a spreadsheet last night with all our outgoings and my debts, Other 1/2 will do one for himself too, i have some that are £75 or so , these will be paid off first - after doing this it didnt seem as undoable as i first thought, get the small ones out of the way then tackle the bigger debt - might pull it off , gonig to give it a good go

DramaQueen29

vindalooloo wrote:

This happened to my my hubby about 10 years ago! He left Cable and Wireless and they overpaid him a months wages. We had already spent it of course so eventually they set a debt collection ?!?!?!? agency onto us!

We're still, to this day, paying it off at £10 a month!!! Will probably be another couple of years before we're free - so please don't ignore.

Ive had soem help from a accountant friend whos told me to draft a letter to ask for a letter from them about how much i owe ( which after nearly 2 weeks they still havent provided) they should send me the letter and my P45 plus payslip - if ive overpaid then why arent they donig this so i can set up a payment plan?

Im quite willing to repay - call me stupid but if they dont tell me how much i owe how the heck am i supposed to repay it...

I did a spreadsheet last night with all our outgoings and my debts, Other 1/2 will do one for himself too, i have some that are £75 or so , these will be paid off first - after doing this it didnt seem as undoable as i first thought, get the small ones out of the way then tackle the bigger debt - might pull it off , going to give it a good go