Will I be refused a DMP? :(

lisa-r_4

Hi guys,

I have my interview with CCCS in a couple of days so thought I would prepare everything today for them. Problem is, i've just been "enlightened" to the fact that I owe even more than I thought! I had an all out panic attack when I realised I owe around £20k MORE! My £80k+ debt is due to my business and huge interest rates, but I feel so ashamed that I let myself get into this mess. Being self-employed I wanted to go on a DMP in the hope that my current financial position would improve, but am now worried they'll turn me down. Please help - and sorry for bothering you all again. You've been a great support to me and I don't want to be a pain.

peb

Did you try the online Debt Remedy? As I understand it so long as you have some disposable income to distribute towards the different lenders you will not be refused.

poppyg_2

Could you not give CCCS a call and explain that you got the initial figures wrong, if you've already provided some rough figures?

Or try filling out their online debt remedy and see if that still suggests a DMP for you? Surely that will give you an idea of whether you will still be ok going down that route

lisa-r_4

I did that pretending I wasn't self-employed, (it won't allow you to do it if you're self-employed) and it only suggested an IVA as I only had £300 spare, but I don't want to go insolvent.

CCCS_Matthew

Hi Lisa,

There is no minimum or maximum amount of debt that we can deal with on a DMP. That said, there is no guarantee that a DMP would be offered as best advice for your situation, but I can assure you your counsellor will go through all of the options you have, despite the amount you owe!

Hope this helps,
CCCS

lisa-r_4

Hi Matthew,

So I will be forced into an IVA? I just didn't want that as i'm hoping i'll be able to up my disposable income soon.

poppyg_2

Lisa, I don't think that's what matthew is suggesting. As long as you have some income leftover to throw at your debts i think that's all you need. Try the online debt remedy with the new figures and see what comes up with

Gemmzie

The CCCS will make a suggestion, but you don't have to go onto an IVA even if they suggest it.

lisa-r_4

But if I refuse what they suggest what happens then?

I'm sorry everyone, I know i'm going on and on but I feel like i'm at my lowest point right now and the only thing that's been keeping me going is the fact that i'd be able to go on a DMP.

Gemmzie

You can contact Payplan and see if they'll help. If not, you can run your own DMP. I do for my dad

onamission_2

as you have business debts have you tried the businessdebtline? they are the national debt line but for those in business. www.bdl.org.uk