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DMP or IVA?

sammyjo1979 · 2018-08-06 20:31:07

Hi, I was wondering if someone would be able to offer any advise. I added up all my debts today and they totalled just under £22k I have rang MBNA who have put me on some sort of plan where they have set the payment at £190 per month which I'm assuming I need to default on? Barclaycard have frozen the interest for a couple…

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Chandelier. Posts: 933 Forumite

13 August 2018 at 4:00PM

Also, whilst you have the breathing space I would also start building up an emergency fund. A lot of people recommend £1000, but even if it is just £500, it may cover you for things that may breakdown or need replacing and you won't have to worry about using credit to cover it as you already have the emergency fund there as a back up.

Chandelier.
Current Debt Repaid:
£104/£619.

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DMP or IVA?

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