DMP/IVA? On Benefits

ScorpioLady_2

Please be gentle! Have been reading for ages, but finally plucked up the courage to post.
I am a single Mum of two, unable to work now, and claiming Incapacity Benefit.
I have a credit card debt of £11K which I am struggling with. And First Plus secured loan of £15k. (Benefits agency are paying most of mortgage)
Am I right in thinking that you can't go on a DMP if you are on benefits so the only solution is an IVA or bankruptcy?
I have my house up for sale to try to address these debts but am also worried about my credit rating re. DMP/IVA (I have not missed any payments ever, so I presume my credit rating is ok at the moment)
Thanks for taking the time to read this, you're all very supportive of each other............please can I join your club, as its very lonely on your own.

Penny2myName

Think you really need to stick your SOA up, even on benefits you may be able to keep paying the secured one (depending on amount) but the more knowledgeable people will need to see your incomes and outgoings so as to be able to advice.

amani_2

Hi scorpiolady and welcome

Im also a scorpiolady, anyway I started my DMP whilst on benefits (jobseekers) My hubby is now working. We asked about an IVA but cant do that on benefits.

Hope this helps someone with more experience will be here soon.


AMANI XXX

oscar52

I disagree with the above post on IVAs. I know someone on an IVA who is on long term benefit (ie not likely to come off)

amani_2

oscar52 wrote: »

I disagree with the above post on IVAs. I know someone on an IVA who is on long term benefit (ie not likely to come off)

I WAS TOLD THAT BY PAYPLAN SORRY IF ITS WRONG

moonlightpjs

I was also told by Payplan that I couldn't do an IVA whilst receiving benefits if that helps at all but you could do a DMP - it really depends what level of debt you have and the amount of benefits you have coming in. It may be best to give them a call, maybe also try CCCS. They will advise you of what they think the best option is for you whether it be a DMP, IVA or whatever.

Try posting you SOA on here to see if anyone can help/advise.

Sorry forgot to addd, DMP's are possible whilst on benefits but I think you need (I know this is right with CCCS) to be able to pay a minimum of £5 per month to each creditor. HTH x