Please help me - I'm desperate

Pixie5740

coolcait wrote: »

Well, I didn't mention everything to do with DAS .

If people want to know everything to do with DAS, reading this link will help them on that quest https://www.aib.gov.uk/debt-arrangement-scheme

Like the link shows, DAS is 'administered' by the Accountant in Bankruptcy. In the role of 'DAS Administrator'. Not in the role of 'Accountant in Bankruptcy'.

I can see why that might have confused you. But DAS is not a form of insolvency.

DAS doesn't cost you/the OP/anyone else an extra penny if you go with the likes of StepChange. The fees which are taken from the monthly payment are paid by the creditors. Not you. You just pay back what you owe.

There is a register. It's a register which has to be checked by anyone who wants to sequestrate you, and they have to confirm on an official court form that they have checked that register, and that you're not on it, before they can apply to have you sequestrated [N.B. this is not everything about sequestration - the Scottish Courts website will have more info for anyone who wants it].

I have no idea why StepChange told your friend that they couldn't keep their car. Was it very expensive? A high HP amount? Too much for the friend to keep paying alongside their debts?

You don't have to answer any of those questions, but they might be the reason why Step Change said that to your friend.

It's certainly not a DAS rule, in the way that the value of a car is a bankruptcy rule (but even then you could maybe keep a higher value car if you can show that it is needed).

Anyway. Back to where I started. You told the OP that DAS is a form of insolvency.

It isn't.

It's up to each person to decide if DAS is the right thing for them. They should at least make that decision knowing that DAS is not a form of insolvency

Fair enough, I was wrong, a DAS is not a form of insolvency. It is a formal debt solution and you do end up on a register, something the OP is keen to avoid, but it is not insolvency.

My friend's car isn't worth much more than the OP's but Step Change did suggest it should go. The only reason he is going down the DAS route is because his main creditor is HMRC and there was a strong possibility they would push him down sequestration route.

enthusiasticsaver

Can you cancel the cable/satellite tv and just keep broadband? £81 is a lot to fork out monthly. I would suggest you set something in emergency fund but holidays are not essential and you can cut entertainment down as you have in second soa but not sure nil is the way to go and you definitely need something in car maintenance. This is going to be a long journey and it needs to be bearable. I am not familiar with Scotland's debt solutions but in England I would have suggested a DMP as the second soa is too close to the bone. It also freezes the interest usually and stops the situation you now have with RBS and possibly other credit cards as recent changes mean they are targeting those who are making minimum payments only and asking them to increase payments. If the DAS is similar to the DMP in England it would not be bankruptcy and you would still be able to keep your car and house.

depressedatdebtdelilah

Thanks for all the suggestions and comments and general support guys.

Spoke to my fianc! and feel a lot lighter just from him knowing now and not running a mile, and we’re trying to figure out a solution together - he’s encouraged me to call StepChange about a DAS - DPP, which I’m hopeful about, though I’m really keen that my mortgage company aren’t notified about it, not sure if they would be? I don’t want anything to jeopardise my house 😢 I’ve done the online assessment and intend to call them over the weekend to talk things through. I’ve requested a current statement of my loan to check everything so I have the right info for when I call.

I’m not sure if this is the best solution or if paying everything myself is better long term? Presumably it would be if I could manage it in terms of credit ratings and stuff, just harder to do due to interest etc? I don’t want to rush into an arranged solution if the right thing to do is to try myself properly first, but equally if it’s the best thing maybe I should just get it going ASAP if accepted.

In terms of my partners payments - it’s our home, so he’s not just paying half the mortgage and utilities, he’s also paying half the phone and sat tv, half the insurance, half the pet insurance, etc etc. He didn’t want his name on the deeds at the time of purchase as he was worried about his own credit rating, but it is our home, and I feel what he’s paying is a fair estimate of half the running costs - he’s upping this to £500/month to reflect some rises since we last worked it out, but generally pays half of everything and I wouldn’t want him to pay an unfairly high amount (or unfairly low amount though!). He has said he’ll try and help me with extra as much as he can too.

Pet insurance wise I’m £33/month with petplan for our 2 cats...

Thanks again for all your contributions - I really appreciated every post x

sourcrates

OP, with regard to your mortgage company, the data protection act prevents things happening as you describe.

markin

If he was going to be on the mortgage, and you got it together i don't see why he should not be paying 50% of everything house related, which is £781 of £1562, what would he be paying if he was renting in your area?

If he wants cable and you could live without he should pay 100%

Did you get the cats together or were they yours?

Your either in it together or your not, i find it odd you don't even know how much disposable income he has.

35k of debt didn't come from nowhere and it was after you moved in together or you wouldn't have got a mortgage otherwise.

markin

sourcrates wrote: »

OP, with regard to your mortgage company, the data protection act prevents things happening as you describe.

They don't have to tell them, If you get on a list they will find out. Not that it will make any difference until you want a home improvement loan or remortgage.

Pixie5740

depressedatdebtdelilah wrote: »

In terms of my partners payments - it’s our home, so he’s not just paying half the mortgage and utilities, he’s also paying half the phone and sat tv, half the insurance, half the pet insurance, etc etc. He didn’t want his name on the deeds at the time of purchase as he was worried about his own credit rating, but it is our home, and I feel what he’s paying is a fair estimate of half the running costs - he’s upping this to £500/month to reflect some rises since we last worked it out, but generally pays half of everything and I wouldn’t want him to pay an unfairly high amount (or unfairly low amount though!). He has said he’ll try and help me with extra as much as he can too.

Pet insurance wise I’m £33/month with petplan for our 2 cats...

I was including the phone and satellite in with the utilities. If also you take into account the multi policy, which includes your car insurance, and the pet insurance then half would be £480 meaning £450 would be about right once you've discounted your car insurance. This was more in response to suggestions by others that your finacee is getting a bargain and ought to be paying more when in fact what he was paying was about right. You've had a discussion with him and he's decided to contribute more to the household finances, every little helps.

Pixie5740

sourcrates wrote: »

OP, with regard to your mortgage company, the data protection act prevents things happening as you describe.

Anyone can search the DAS register.