A lot of people go straight into IVA's, but a lot of people also do a DMP first. Me and hubby did a DMP for 18 months as we were told we weren't suitable for an IVA.
We changed companies and got one no problem at all.
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
The original company we went to said we didn't have enough disposable income and we were actually told that we should go bankrupt!
We actually pay less to the IVA now than we did to the DMP.
I wish I had found this forum then, I would have rung someone else for a second opinion, and I might have been a lot further in than I am!
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
I am sure that everything will go ok. All of our creditors froze our interest and charges, so I hope yours will too.
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
we went straight into iva, we had large amount of debt , had never defaulted on any payments , just couldnt rob peter any longer . wish i had known about this forum back then too . hope it all goes well for you jan
Depends entirely on the market conditions that prevail at the time, trying to second guess now would be useless, although I will say that a DMP won't automatically rule it out.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
Had trouble posting recently but I have been reading the forum. This reply prob. covers a few other posts. Head still spinning and the more probs I have then the less I focus on solutions- then I leave it almost too late and grab any lifleine.
I chose this DMP or rather they chose me and I didn't shop around
Filled in a free/charity on line form at the beginning when I was fishing for an answer. They could not recommend a DMP as I had no disposable income at the time. Did not go into all the options but I would have been frightened of them. I think I went DMP as the other routes seemed to have legal implications although I have ended up with a CCJ. Then ,at this time Kensington were suggested by one of my creditors so I jumped at it. OK at first and gave me relief from the constant phone calls and hassle. I am going to seek advice this week of other companies as IVA or Bankruptcy may suit better.
Fashion world /fifty plus via Reliable Collections. They all belong to the same home shopping group. My account was passed to their collecting arm, Reliable Collections who included Kensington literature.I rang to negotiate payments, they recomended Kensington whom,I was told, they always dealt with.
Re CCJ -Can KFM negotiate a lower payment of the CCJ.I sent the papers off to them at the request of one of their operatives , when mine was unavaialble " to see if they can lower the payment" I have heard nothing back( not unusual) except during a subsequent T/C re transfer of procceedings re CCJ. I was told that they could not get invovled .
I also get the impression that someone highter might be or is dealing with Incasso but am not informed of where they are at. IE I asked why on the one hand I seemed to have CCJ completed but had received a request for authorisation for KFM to act, as if someone was only just starting to deal with this. 1st answer was akin to CCJ had to be got first so they could get a charging order and when I queried the authorisation letter,after I had been in dmp for months and already done this A= Oh yes X is talking to them ( I do understand that DMP does not mean they can stop all actions but I do think that some more attentive action might have done) at least 3 monthy payments had been made to Nat west prior to very out of the blue action from Incasso.Problem is that I want someone to control and manage the situation and not for both us. I need to know what is happening as it feels that they are doing a bit and I am now doing a bit.
? I was paying approx £50 to Nat West via DMP but CCJ/Incasso now want £110 so will the £ 50 still go to Natwest as well as £110 to Incasso or will Incasso accept £ 60. Will this result in Court again
Lower payments can be negotiated by your DMP company against a CCJ, but this would have to be via the Court which originally set the level of payments.
If you are not happy with the service being provided by your current DMP provider, you can always change to another company to see if this improves. There are a number of good companies who have excellent relationships with the majority of creditors.
