DMP or IVA with one person self employed?

fatbelly

sourcrates said:

Hummingbird0808 said:

My concern is the constant contact. The emails and phone calls and letters. I just want to make a plan and for them to leave me alone

The absolute worst that can happen with unsecured debt is that you get taken to court and are ordered to repay the debts at an affordable rate determined by your budget, if anything is not affordable, the court would not expect you to pay, its really is that simple, creditors can shout and howl as much as they want, in the end only a court has authority to make you pay, and affordability is paramount.

Honestly, what is there to worry about??

And that happens a lot less than you think, and not quickly. After all the creditor has 6 years to decide whether to throw money at a bad debt.

A court claim can only start after a standard preaction letter with 30-day reply form. You can ignore everything before that.

Hummingbird0808

My word, this is so lovely to hear. Thank you so so much for this. 

Hummingbird0808

I’m hoping they’ll allow me to set
up a plan. I don’t want to bail on the debt. Only to manage it 

sourcrates

Hummingbird0808 said:

I’m hoping they’ll allow me to set
up a plan. I don’t want to bail on the debt. Only to manage it 

There entire collection process is geared up to that end, they want you to set up a plan, as the alternative only costs them money.

Make no mistake, behind all the creditor bravado, you are in charge here, not them.

They are only too well aware how simple it is for the majority of folk to just walk away from unsecured, unaffordable debt and not pay it at all, with little or no consequences except a tarnished credit file.