Advice please!

fatbelly

Stressedmummy wrote: »

What happens if I just stop paying for the time being? I am going to get the letters printed out today that you previously linked to. I'm just feeling very nervous right now, hate not paying things on time :eek:
Ahh also, I completed the "debt remedy tool" on stepchange, and the only solution they gave me was bankruptcy, with an activation fee of over £500 :undecided

Debt Remedy is a bit of a blunt tool and no replacement for the brain of a good adviser. I presume it's saying bankruptcy (£680 fee btw) because of the car. But you do have other options as I set out earlier.

Stressedmummy

Thank you, I’ll give them a call tomorrow if I can

DMP_Tiger

Stepchange calculator advised me bankruptcy. But as fatbelly says, it is a very blunt tool. It also said that a DMP would take 30 years but with salary increases, additional income, F & F's and my daughter getting older so my wife can work a part time job, I am looking at 7 years maximum - hopefully less.

But even at 30 years, SC didn't have a problem with me going ahead with a DMP. You do whatever works best for you.