Sorry to hear the creditors wouldn't accept your offer as proposed. The increase they requested seems extremely high, where do they think you can find that additional from. If you had it, you would have proposed it in the 1st place.
Good luck with the Debt Management Plan, it is a lot more flexible with additional payments being made as and when you have the extra funds.
Although, like on previous post, it may be worth putting any extra aside for any emergencies that may take place. You just never know when you may need some additional cash at short notice.
Good luck with the DMP and the future of possibly an IVA.
When IVAs are proposed under IVA Protocol, using either CCCS or CFS guidelines with regard to expenditure, requests for additional payments are rare and usually fairly modest.
Something clearly appears to have gone wrong with this application!
Getting off the subject a little here, but I have been on a number of cricket tours to Abergavenny, and have some very, very fond memories of it and Crickhowell as well.
Lovely part of the world, but was never a real fan of Flowers bitter though which was all you seemed to be able to get at that time.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
The reason they wanted more is because we have been paying (without realising) 2 lots of mortgage protection. The creditors (quite rightly) said we didnt need 2 and that is where the extra money came from. Unfortunately between submitting the original income and expenditure forms and the meeting, hubby had very little cash coming in (self employed in IT as an accredited microsoft trainer) and in order for him to even pay the mortgage the protections had to go. (along a few other things).
Which is why I said about a DMP for 6 months - hoepfully we will be in a better position and will know exactly how much income we have together. Does that make sense?
Yes it does make sense 1 step closer, and is a common enough scenario. I would encourage you to look at your budget as closely as you can over the next few months as well, and if there is something that you need to account for regularly that either hasn't already been allowed for, or not enough has been allowed, then inform your provider before you proceed again.
As for Mel, I haven't forgotten, it really is a case of finding the time, but more especially finding tickets!!
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
An IVA sometime in the future will be appropriate but only based on a realistic and affordable contribution taking into account mortgage protection whcich is important and should not cost you the earth. Look at the possibility of another firm of IVA providers next time - you can choose by looking at reviews of them on www.iva.com. Good luck with your DMP.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
awww 1 step how are you ?
listen hun like the others said stay positive. if the creditors are being greedy at the mo it sounds better that you are doing the DMP-their loss !
like i said before you do try your best always-theyre just to silly to see that at the mo.
please keep feeling positive and please keep posting. you have a lot of new friends now you know ! and we care about you and always want to know youre ok luv FD X [:o)]
Last edited by flumpy dog on Tue Jan 06, 2009 9:35 pm, edited 1 time in total.
Been watching NCIS to unwind.............thank you all so much for your kind words and ideas and suggestions. Hopefully in 6 months things will be much more stable!
Oddly enough when I first started tackling my debt problems a DMP was what I was looking for! Perhaps an IVA is not for me right now.
I spent some time sorting out a couple of savings accounts so that I could budget for Christmas and any unexpected bills and the yearly bills like car tax and mot and insurance. So this 6 months will be good experience I think.
Anyway thank you all again, I am off to bed now. probably wont be on here tomorrow, youngest dog has trip to the vet for his boosters tomorrow........and the way the cat is behaving she'll be going to have her vocal cords removed......
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Pets - don't you just love 'em! Hope the dog gets on ok!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
