please help!

gawebb99

thank you

i am actually crying now! lovely people you all are

my worry is, can we do a dmp on so much debt? and will they leave us enough to live on

fermi

Any debt solution or strategy should ALWAYS leave you enough to reasonably live on. If it can't, then the free debt help organisations will not suggest that option, and will instead look at another.

As said, there is ALWAYS a way to get through these things in a way that, while perhaps not ideal, is manageable and will work through in the end.

gawebb99

thank you

we have two young children so still need to live - not lavishly, but we cant sit inside forever and christmas and birthdays still need to happen

has anyone done a DMP on £30k?

what kind of repayments do you have to make?

sourcrates

gawebb99 wrote: »

thank you

we have two young children so still need to live - not lavishly, but we cant sit inside forever and christmas and birthdays still need to happen

has anyone done a DMP on £30k?

what kind of repayments do you have to make?

You pay what you can afford, they will go though a budget with you, and whatever is left, after all your essential payments, is what the creditors get, it's that simple.

There are 3 possible solutions for you, they are :

Bankrupcy

Individual voluntery arrangement

Debt management plan

One of those will be the right option for you, depends on your curcumstances.

gawebb99

one of our children gets DLA- can this be counted in the budget? the money is for the child, not us- so im thinking it cant be counted?

fermi

Is the £30K all in one name, or is it split?

gawebb99

its split, some in my name, some in his.

we have a joint bank account.

but also one each.

fermi

Then could be a split solution if that works out best. DMP for one and DRO for the other, or something else. DRO limit is now £20K.

That is something for Stepchange, National Debtline, CAB to say for sure though. Can make suggestions at what to look at on a forum thread, but not decisions.

gawebb99

thank you. i will definitely call stepchange

in the mean time , would love to hear of people who have been in similar situations- and what they did

thanks all again so much

sourcrates

gawebb99 wrote: »

thank you. i will definitely call stepchange

in the mean time , would love to hear of people who have been in similar situations- and what they did

thanks all again so much

My debt was 57k.

I did a 6 year IVA to get rid of it.

Most important thing to remember, whatever you choose to do, is budget correctly.
Don't leave yourself short for essentials !!!