IVA / Debt Advice Please

ManyWays

A priority for me is that the house is secure and cannot be taken. Probably an impossible question to answer - but how likely is it one of the debtors would push for this during a dmp?
"Take the house" isn't going to happen. Orders for sale are very very rare. The worst that could happen is a CCJ and a charge over your house, 
The positive reason to go for an IVA rather a DMP has nothing to do with preserving your house, it would be to get the debts cleared faster. But IVAs are risky and uncertain, if your income drops an IVA may fail. If it goes up a lot, you will end up paying a LOT more to the IVA, when you could simply have cleared the debts a lot faster in a DMP.

After you took the admiral loan, how long until you started to use the cleared cards again? Was it very quick? or not until after the mortgage went up?

Grumpelstiltskin

Let me give you my experience of sensitive skin. I am 81 years of age and I have suffered from Eczema all my life.

Expensive doesn't always mean best, in fact I find expensive creams can be too strong for my skin.

Allergies and intolerances, have they been diagnosed and exactly what are they allergic to?

It is easy to fall into buying free from when there are cheaper alternatives.

SteadyEddy22

Thanks @ManyWays. That's good to know.

I would much rather do a DMP, i assumed i wouldn't be able to though due to the high amount and the length of time it would take to pay off. When i speak with Business Debtline i will ask them to talk me through a DMP to give me a better understanding.

The cards i paid off with that debt have never been touched since. But i was using the Barclaycard Credit Card whilst getting that loan, and continued to use throughout the year.

Am i better to let the accounts default before taking action? Or should i contact each company to advise them i am seeking debt advice as i can no longer make payments? From what i have read i am getting conflicting answer. But i can imagine Business Debtline will tell me to contact them now.

SteadyEddy22

Grumpelstiltskin said:

Let me give you my experience of sensitive skin. I am 81 years of age and I have suffered from Eczema all my life.

Expensive doesn't always mean best, in fact I find expensive creams can be too strong for my skin.

Allergies and intolerances, have they been diagnosed and exactly what are they allergic to?

It is easy to fall into buying free from when there are cheaper alternatives.

I completely agree. We spent the best part of the first year trying to find the right creams, shampoos etc. And very rarely the most expensive ones worked. But, the ones that did work for us are still of the higher price.

Similar situation with the food allergies/intolerances. Though that was actually a more drawn out process using a food diary with a nutritionist referred to by the doctor. So a lot of thought has gone into both.

With respect though, I do not really want to delve into that as i feel it is a bit off topic. Appreciate the comment though.

Grumpelstiltskin

OK I was just seeing if I could save you money, you know what Tesco says ' Every little helps'.

SteadyEddy22

Grumpelstiltskin said:

OK I was just seeing if I could save you money, you know what Tesco says ' Every little helps'.

That is very true!

ManyWays

I think you should talk to Business debtline first and work out a plan from there. It may not be exactly what BDL says, but there is no reason to ush into anything this instant.

jamesm5094

Hi how have you got on? 

I am in similar situation with about 50-60k worth of debt 

SteadyEddy22

Hi @jamesm5094

I have been trying since Monday to get hold of them but having no luck. Keeps saying they are experiencing a high number of calls so cannot take my call. The online chat is also saying the same.

I have spoken to Payplan just to give my figures and see what the said was the best route, and they have advised an IVA. Though i suspected they would say that anyway as they get paid fees from it.

Not entirely sure where to go from here, so will just keep trying Business Debtline. Will update you if i make any progress.

Stateofart

You're paying over £100 in just TV and broadband.  Try and get say Virgin fibre for £35 ish and your TV licence and save yourself £600 a year there.

£700 in food is way over the top, work out a way of halving this.

£60 mobile I know seems to be the norm now but my goodness, I've got an older Apple handset that's practically the say as the new ones and I pay £8 a month.

£90 a month on haircuts???