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DMP and earnings arrestment
JB32
Posts: 15 Forumite
Good morning, can someone please help me. I started a DMP through Stepchange at the end of last year. I owe circa £70,000 to eight creditors. I have been off work over 2 years with mental health issues and receive half pay.
This morning I received an Earnings Arrestment Schedule from a credit Union whom I owe money to.
I am absolutely terrified now, I work in finance and fear the arrestment could cause me to lose my job, I am already on the breadline and fear any arrestment from my earnings will not allow me to pay my other creditors and essential bills. Can anybody please advise what my options are?
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Comments
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Are you still based in Scotland?If you've have not made a mistake, you've made nothing0
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Hi RAS, yes. It has come as a massive shock. Last year, they served an inhibition order on me saying ai could not sell my property. I have heard nothing from them in respect of the arrestment until this morning0
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They must already have a decree against you then, there is a formula they use to decide how much to deduct from wages, some details here -
What is diligence? | Accountant in Bankruptcy (aib.gov.uk)
70K is a lot of money, is a DMP a reasonable solution here, are you a homeowner for example ?I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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