Help please just don't know what to do

trundles

hello again!

Just checked my credit report with experian and the figures are totally different to what my debt management company have there seems to be about a £5000 (in my favour) difference and some of the debts aren't even listed??

Any suggestions please?

thank you

Richard_S

Toots wrote: »

A totally morally bankrupt suggestion!

A totally nonsensical statement.

By definition morality has nothing to do with rules, regulations and laws; it is a subjective concept with no strict definitions.

Walter's suggestions have been fairly roundly condemned on here because they break rules, regulations and laws; morally, it's a valid suggestion.

rog2

Hi trundles - I think that a 'Full and Final' IVA is an EXCELLENT idea. I have read, on these boards, of other people having been in the fortunate position of being able to go down this road, thus avoiding bankruptcy.
If you can 'write off' up to £16k of debt, then I would certainly consider this.
My only word of caution, though, would be in the choice of Insolvency Practitioner. If yourcurrent Debt Management Company is a private company, and are 'offering' to provide this service, you must be aware that they are looking at a fee (admittedly paid for by your creditors, but in practice reducing the amount that the creditor will receive, thereby making your F&F less attractive to some of your creditors).
It may well be that your DMP company is totally trustworthy, but I would have a word with CCCS http://www.cccs.co.uk before you comit yourself.

NekoZombie

ummm, a quick question, but if the money is already lodged with a debt management company for an IVA company then hasn't the OP lost all access to those funds already? I doubt they'd refund that money back easily if the OP decided to go BR instead. Surely they would at least deduct some fees...

sounds to me like the OP's hands are tied in favour of an IVA or a full and final settlement IVA.

EDIT: Rog2, you and I think alike

rog2

NekoZombie wrote: »

EDIT: Rog2, you and I think alike

Probably because we've both been through the same 'brown stuff' NZ. :beer:

Richard_S

Toots wrote: »

In a bit of a nit-picking mood aren't you Richard?

My dictionary defines morality as 'principles concerning the distinction between right and wrong or good and bad behaviour' or 'the extent to which an action is right or wrong'.

What I was trying to say was that I totally disagree with Walter's suggestion to take out the cash, stash it somewhere safe and file for bankruptcy precisely because it does flout the rules and regulations and he is clearly aware of this. I think his suggestion is outrageous and it is encouraging people to abdicate responsibility and take the pee out of the system for going BR.

However I clearly phrased my comment poorly - I'm obviously just not articulate enough for the people who usually post on these threads. Or is it that I've intruded and it's only the usual handful of posters on here that are allowed to respond?

Well articulated Toots,

Don't you think the sentence "A totally morally bankrupt suggestion" was something of a barbed comment? Don't you think that somebody facing the prospect of bankruptcy,and reading these boards for the first time, would find a sentence like that unhelpful at best.

Having said that Toots, there's no need to berate yourself; you may be not be fluently articulate, but your message always comes across loud and clear.:D

Richard

staffssandra

Hi,

My advice (if you haven`t already done it) is get down to your local Citizen advice bureau. All the advice that they offer is free, impartial and confidential. Alot of CABS employ people who specialise in debt, but all of the advisors including the volunteers receive alot of training so will be able to help you. They can negotiate with creditors, make phone calls, write letters etc, in fact they do all the work that Debt Management Companies do but for no charge, what a bargain. It could well be that an IVA is not the best solution for you, but the CAB will be able to tell you.

For anyone out there with debt problems go to the CAB as your first point of call, before talking to any debt management companies. They may be a charitable organisation but they are brilliant, even if you might have to wait a while before you see someone

rog2

Toots wrote: »

So whilst I do think that following the rules and going BR is fine and is the only way out for many, I don't think Walter encouraging someone to break or bypass the rules is.

Hi Toots - I think that you will find that most of us agree with your comment, and, to be honest, I don't think I've ever seen Richard encourage anyone to actually break any rules. I think that he, and I, are just as disappointed with Walter's comments as you. :beer:

Richard_S

Toots wrote: »

TBH Richard I'm not sure quite what message you receive but I think you have the wrong impression of me.

Just in case you think I have anything against people going BR I want to assure you that is most definitely not the case.
I dealt with my pensioner Dad's BR last year and I consider it was the best thing for him as he couldn't cope with the stress of being hassled by credit card companies for the rest of his life.

Because of having to deal with my dad's BR I started to read this forum and have a great deal of sympathy for a lot of people who in many cases may go BR through a combination of unfortunate circumstances.

I think a lot of people are forced into debt by being bombarded with offers of credit by banks and credit card companies who then treat people badly when they can't afford to meet repayments. I am actually pleased in one way that these companies are having to write off debts when people go BR because it might make them not offer people debt that they cannot afford to take on.

TBH I often think when I read people's stories on here that it could so easily have been me in earlier years.

So whilst I do think that following the rules and going BR is fine and is the only way out for many, I don't think Walter encouraging someone to break or bypass the rules is.

Toots,

In that case I owe you an unreserved apology. I do recall you posting some time ago about helping your father with his bankruptcy but I have to confess I'd forgotten. I couldn't agree more with everything you've written on this post.

Regards

Richard