Advice on starting afresh

Unicorn_cottage

Surely your car would be exempt if you need it for work. Are you really contemplating paying for an IVA service?!

sourcrates

Unicorn_cottage wrote: »

Surely your car would be exempt if you need it for work. Are you really contemplating paying for an IVA service?!

All IVA’s attract fee’s, the IP does not work for free.
You cannot have a free one, fee’s differ company to company, so choosing the right IP is essential, the fee’s are paid as part of your monthly repayment.

The only completely free debt solution is a debt management plan, all other debt remedies have a fee attached to them.

Your car is not exempt in bankruptcy, unless it’s worth less than £1000, medical conditions do attract some leeway, but not much.

uknovaman

Hi
I wrote to all my creditors with an income/expenditure form, saying i admit to owing the money, wanted to pay it back but was unable to at that time. They were all understanding, accepted my offer of payments, i set up standing orders for all of them and that was it. They suggested that i let the accounts go into default, which i did, then they agreed to freeze all the interests.They never bothered me apart from the odd letter saying your plan is coming to an end - normally every 6-12 months ( I ignored these to be honest as i hadnt missed any payments) I was paying £5 a month on most of them - i had 9 in total - i only have two left now. Some were nearly £8K. i can probably pay one off now, its £1400, but as Im now paying £35 on that, and they are happy, i cannot see the point.
And it has cost me nothing