Contacts Help Please

[Soulgrowth]

Hi debtcrunch ... just putting my two penneth in not as an 'expert' but as someone who has had to deal with their debt problem. By borrowing from a relative is it not just a case of robbing Peter to pay Paul. Would bankruptcy be such a bad option for you? It would certainly give you a real fresh start and some peace of mind.

All the best

Debbie

[debtcrunch]

Yeh that would be easier option but hopefully later on this year going to be trying getting back to work self employed. So bankruptcy could be a problem

Money from relative is not to be paid back over a certain time. No pressure there, some people might say go bankrupt for £500 but would honestly like to give something back given the option.

[ladyc]

Have you tried ringing the creditors and telling them you have sent this offer and have received no reply.
I did this with some of my creditors and arranged a Short Settlement, some of which had to consider things and get back to me which they did.

[debtcrunch]

LadyC, will try that today.

Looks like going down route of a IP, if i do will i have to show them copies of letters i have sent.

Halifax are the worst with there computerised letters theres not even a contact person to get in touch with on these letters.

Im sure they want people to go bankrupt.

I feel like i may as well been burying my head in the sand.

As all my correspondance has gone unheard.

[carlmcmullen]

Debtcrunch,

Ignoring your letters will not solve you situation as you probaly know, you have attempted to deal with you situation yourself and it is not unusal for creditors to ignore your requests first time.

I would suggest that you spoke with an IP or debt advice company who can take a look at your circumstances and offer you impartial advice, and will be able to identify the best way to deal with your debts and offer you very valuable support and experience.

I admire that you have attempted to deal with your debts before contacting and IP, but sadly creditors can be difficult 'people' to please.

If you do intend to go down the route of an IVA then it would be to your advantage to provide the IP with a copy of the letters you have sent your creditors and there responses.

Good luck

[debtcrunch]

going to arrange a meeting with a IP in 2 weeks time.

Will gather all letters previously sent.

What documentation will a IP require so i can start gathering info now

[carlmcmullen]

They are going to require the letters you have sent your creidtors, 3 months bank statements, proof of any income you are in receipt of, any proof of debt (statements & Loan agreements etc etc)

They will also need to go through your income and expenditure so it is a good idea to make a list of all your outgoings.

At some point they will need to see some evidence that a third party will be introducing funds, but this can be requested at later date, this could be simply a letter from the family member stating they are perpared to give you the money.

Good luck debtcrunch

[MelanieGiles]

I regularly propose IVAs on terms such as those you are suggesting, and creditors on the whole tend to be fairly amenable to them. The numbers you are quoting ought to make a very viable proposal.

Interesting that Payplan have said that you would not be eligible. Do you know on what grounds? It may be better to discuss this with an alternative IP who is experienced in putting forward such offers.

Alternatively you could consider proposing a final settlement via a Debt Management Company. Andrew Graveson of Brightoak, who regularly posts on the forum has experience in this area, and this could avoid you having a formal insolvency on your record. Might be worth giving him a call.

[debtcrunch]

thanks melanie will look at brightoak, with regards to not having a foermal in solvency record is the benefit of that not being public knowledge then

[MelanieGiles]

Absolutely - your credit records will still be marked, but you will not appear on the Insolvency Register.