£65k debt - Bankruptcy v IVA

melf_2

Honestly how has it been? Is it something you are glad you did or are doing?

NekoZombie

melf wrote: »

I am just so concerned, I want the best outcome for us at this point in time and I know this is a terribble thing to say but I don't have the energy to care too much about what FirstPlus and MBNA get back from us. We need to do whats right for us. Unfortunately i don't know what the right thing is? IVA's are expensive but its more anonymous, BR is quicker (I think?) but has the stigma and will create problems in the future. The monthly payment thing sounds good in some ways but it doesn't stop the creditors ringing and writing constantly, I think we need that legal side. I can't cope much longer with the way things are. Its been going on for 18 months at least.

Ultimately, you will have to decide what to do yourself. One thing to know is that bky is not the horror its cracked up to be. At the right time and in the right situation, it really is a life saver.

gettingitsorted

melf wrote: »

I am just so concerned, I want the best outcome for us at this point in time and I know this is a terribble thing to say but I don't have the energy to care too much about what FirstPlus and MBNA get back from us. We need to do whats right for us. Unfortunately i don't know what the right thing is? IVA's are expensive but its more anonymous, BR is quicker (I think?) but has the stigma and will create problems in the future. The monthly payment thing sounds good in some ways but it doesn't stop the creditors ringing and writing constantly, I think we need that legal side. I can't cope much longer with the way things are. Its been going on for 18 months at least.

Melf this is how alot of people on here have felt like and beleive me when you reach the point that you know which way to go the huge relief that will follow will be worth it .

contact either https://www.payplan.com or https://www.cccs.co.uk to get the correct proff advice they will both go through the options available to you

NekoZombie

melf wrote: »

Honestly how has it been? Is it something you are glad you did or are doing?

Honestly - Its still early days, but it was the best decision I ever made. Moreover, I'd suggest it to anyone in a similar situation. Gotta admit though, it was the guys on here that put it all in perspective, which is why I'm still hanging around despite having been through the process four weeks ago. Love you all guys!!! :T

gettingitsorted

NekoZombie wrote: »

Honestly - Its still early days, but it was the best decision I ever made. Moreover, I'd suggest it to anyone in a similar situation. Gotta admit though, it was the guys on here that put it all in perspective, which is why I'm still hanging around despite having been through the process four weeks ago. Love you all guys!!! :T

oh neko thats sooooo sweet

Richard_S

melf wrote: »

Honestly how has it been? Is it something you are glad you did or are doing?

melf,

To put it plainly "I'm absolutely bl00dy delighted". We've got rid of £200k ish of debt, I honestly can't remember how much, and we'll shortly have the chance to get back into business again.

As for stigma, I'm not proud, but I'm most certainly not ashamed. Anybody trying to stick labels on me will be trying for eternity.

Richard_S

NekoZombie wrote: »

Honestly - Its still early days, but it was the best decision I ever made. Moreover, I'd suggest it to anyone in a similar situation. Gotta admit though, it was the guys on here that put it all in perspective, which is why I'm still hanging around despite having been through the process four weeks ago. Love you all guys!!! :T

Aw Neko,

I love you too, :smileyhea

makingendsmeet_2

wow the response on this board was so much more positive than the crappy response he got on the DFW board. Here he got proper advise.

Richard_S

makingendsmeet wrote: »

wow the response on this board was so much more positive than the crappy response he got on the DFW board. Here he got proper advise.

makingendsmeet,

I never bothered looking at his post on the DFW board although I'm not surprised at your comment. The vast majority of people on that board are genuinely struggling to do what they feel is the right thing and they have my most sincere admiration.

However, there are others who are not quite so open minded.

Richard

melf_2

Richard_S wrote: »

melf,

To put it plainly "I'm absolutely bl00dy delighted". We've got rid of £200k ish of debt, I honestly can't remember how much, and we'll shortly have the chance to get back into business again.

As for stigma, I'm not proud, but I'm most certainly not ashamed. Anybody trying to stick labels on me will be trying for eternity.

Thats wonderful to hear! The stigma is the worst thing that i fear. I've got to the pint now that I really don't care half as much about owning a house as I did a few days ago - thats one hurdle jumped!

Thank you all so much for yor support. Things are much better on the other board now. To be honest it was just one person that was really sarcastic towards my problems. Obviously someone who has been lucky in life and cannot empathise with me at all. Thats not his fault but perhaps he shouldn't judge so freely because no one knows what might happen to them one day.