We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Help! I am drowning in debt!
Comments
-
Payplan or CCCS will go through the options with you, I went for a DMP because I have assests to protect. Ivas I believe are an alternative to bankruptcy which again can help to protect assests and avoid the forced sale of a house. Bankruptcy might be a viable option if you have no assests to protect, you do need to pay a fee I think it is about £700. And I think it is published in the paper. This may help you draw a line under it all and start afresh. Iva and bankruptcy are managed by insolvency practioners but I think CCCS have them working for them anyway, I don't know about payplan.
Bankruptcy notices are no longer routinely published in the local paper. Bankruptcy tends to be adminsted by the official receiver, it is only where there is anything unusual or substanial assets where an Insolvency Practioner would become involved.
OP - if after taking advice you decide that bankruptcy is an option for you, then pop over to the bankruptcy board with any questions you may have.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards