help

pretzelgirl

thanx ras for the advice,was just wondering,in the past tho o/h tells me he was offered the chance to pay a 1 off of about 12 thousand instead of the full amount,if offered again is it worth trying to get a loan to do that or is it just replacing 1 debt with another??also sorry to be a nag...but in about 2 yrs time my o/h is due his share of the house he owned with his ex wife,this will more than enough cover the debts,but will the people owed money wait whilst just accepting,the minimum repayments???,can they insist he sells the house we now live in 2 pay them as i believe there is enough equity in the house,i dont really want to move as i have lupus,and am stressed enough already by things lately.....thanx in advance.

RAS

pretzelgirl wrote: »

in the past tho o/h tells me he was offered the chance to pay a 1 off of about 12 thousand instead of the full amount,if offered again is it worth trying to get a loan to do that or is it just replacing 1 debt with another??

It seems that he has a Debt Management Plan already in place with CCCS? If so he cannot make individual arrangments that favour one debtor at the moment. As and when he gets the capital, then you could negoitiate full and final settlements.

also sorry to be a nag...but in about 2 yrs time my o/h is due his share of the house he owned with his ex wife,this will more than enough cover the debts,but will the people owed money wait whilst just accepting,the minimum repayments???,

Payments are based on his current income, so they will wait as long as he keeps to the deal agreed with the CCCS. What he needs to be careful about is getting this revised if his circumstances change either way.

can they insist he sells the house we now live in 2 pay them as i believe there is enough equity in the house,i dont really want to move as i have lupus,and am stressed enough already by things lately.

Phew. Glad you told us that. This is why people are recommending caution with IVAs. If you do an IVA, then you will have to release any equity in the house in year 3 or 4 and you would find it hard to pull out when he gets the capital. On the DMP, the equity in the house is safe and you can use the capital to make full and final offers, settle the debts when it comes in.

Hope that helps a bit.

pretzelgirl

thanx ras u are a wonderful person and a genius..

RAS

[EMAIL="B@@L@@ks"]B@@L@@ks[/EMAIL] love

just someone who learns fast and hates to see people being made miserable by situations not of their making.

Now it is the weekend and you should be tucked up with BF, not on here.

Tomorrow, he can go through the SOA and post it up. it is time he took the strain on this. You stop worrying.