Jeremy Vine show

NeverAgain_2

Posters on here really are very patient.

But I think that's part of the problem, everyone is so reluctant to tell the OP how it really is.

Same probably applies to payplan and the charities.

elsiepac

NeverAgain wrote: »

Posters on here really are very patient.

But I think that's part of the problem, everyone is so reluctant to tell the OP how it really is.

Same probably applies to payplan and the charities.

Hi NeverAgain

After the bit of talk on her about accronyms, I just wondered what OP was please?! :embarasse

Thanks in advance!

LC

Ames

OP = original post/original poster.

elsiepac

Ames wrote: »

OP = original post/original poster.

Thanks Ames...I feel I should have worked that out, I've deciphered loads of others... oh well!!! Thanks

LC

FuzzyCub

GaryBC wrote: »

Whatever his/her title my comment still applies - nobody can tell me - in advance - what he/she will decide on the day! I have to commit to a course of action first!! I want to know up front. As I say - my home is not a stake in a game of chance!

But yet again a posting here presumes I am familiar with financial terminology and conventions! "Future interest"? "Property Interest"? "Dealt with"?

I can tell you what will happen in advance if you choose bankruptcy:

The Offical Reciever or their representative will seek the best "deal" for your creditors (i.e. payng them back as much as possible) whilst allowing you to meet you and your family's reasonable domestic needs. That is all.

That may mean lots of different things depending on your personal circumstances. If you are willing to enlighten the forum with the details that have been requested people will offer advice based on a likely outcome, it may not however be what you want to hear.

I suggest your anger is misplaced and you (like each of us) bear some responsibility for your own personal debt. Get over your anger and use that emotional energy to solve your debt problem. You'll live a happier and more fulfilling life for it.

Most of us did not understand finance, finance terminology and conventions, that's how we got into debt. I made it my mission to understand it, that knowledge gave me power to avoid ever repeating my mistakes.

I still consider your original post incorrect, I believe all debt problems can be overcome. I also believe overcoming debt problems come hand in hand with a change in attitude and behaviour towards personal finance.

SJ1

This might be a bit harsh but you either want advice or you don't. Several options have been offered but you don't want to hear them. OK you have your own reasons for that but you can't exactly say there aren't ways of dealing with it when it is simply that you don't like those methods.

vaporate

Tixy wrote: »

Its a statement Martin often makes and so far as I have seen there is a solution to everyone's financial situations.

Perhaps the solution you are on is not the best one for you.

Obviously its impossible to advise as you haven't given any of your financial details (its an anonymous forum so nobody would be able to identify you anyway and it is how we generally help each other) but did you consider an IVA or bankruptcy when you commenced your DMP? Did you seek advice from one of the debt advice charities at all?

Yeh bankrupt or payment plan.

Hardly need a so called financial whizz cough !!!!!!!! for that.

bottleofred

Hi Garybc,

I am aware of the stress that debt brings and hope to be free of mine later this year, but it's been a long journey. Most of the people on the boards are well intentioned and want to try to provide positive/helpful advice so please try to remember that despite your frustration. If you don't understand any of the terms people use then just ask and someone will know. I understand why you're not willing to play a game of chance with Bankruptcy and losing your home, so in this instance it would appear going with the debt management plan is the only alternative available to you. If you do decide to post your statement of affairs you will get loads of help/advice on how to save money which can then go towards the debts and the vast majority of people on the boards do have good intentions and will offer advice etc.

Good luck

Red

Million_Percent

Seems like the OP's idea of a 'solution' is that his debts get magically written off, he keeps his house and doesn't have to make any real sacrifice. Perhaps Martin's idea of a solution is one that simply enables you to keep your creditors from the door and still have enough to get by each month without being continually hassled by debt collectors. TBH, some people have so much debt that this is as good as it gets. Compared to being stripped of all your assets and effectively made homeless, I'd say the payment plan IS a solution.

The fact that the payment plan is structured in such a way that the full debt will never actually be repaid within the OP's lifetime means that the debt has effectively been massively written down. The plan allows him to keep his house and presumably leaves enough to get by each month. It's your debt OP so why should the payment plan leave you with more than enough to cover the basics? The alternative is bankruptcy which as others have suggested is worth investigating further as, while you may have to give up the house and rent, it may actually leave you with a better quality of life at the end of it. Is being a homeowner that important?

Ronaldo_Mconaldo

I've just read this. So the OP hasn't said anything about themself like whether they work, howmmuch they earn, what they owe, how many kids they have etc. Some people get what they deserve, this person doesn't seem to want any help, just to rant. Come back when you're 165 and let us know how it feels to be debt free then.