Getting There :)

[look_divine]

how exactly do DMPs work?

[Lisa2009]

Your creditors agree to reduced payments over a longer period of time.
Most will freeze interest, however, they do have the right to start adding it again if they choose.
In a DMP you would eventually pay the WHOLE debt.

[kallis3]

Hi look devine,

You make an informal arrangement with your creditor to pay less per month than you should be.

They may, or may not, freeze interest and charges, and it takes much longer than an IVA to pay off.

You can still be subject to letters and phone calls and the creditors will usually review your payments every 6 months or so.

[look_divine]

ok thankyou dont think thats an option then

[kallis3]

Have you phoned anyone yet?

The advice is free, and they will tell you all your options and exactly what they entail.

[Lisa2009]

For you and your circumstances at the minute it may work untill you are secured in a new home. It may just keep the wolves from the door for a little while and give you a bit of breathing space. Theres nothing stopping you from then proposing an IVA once things have settled down xxx

[look_divine]

you know im scared, and i know you hear this all the time
no i havent rang anyone yet, i dont know how long i will have to wait for housing
life sucks

[kallis3]

As Mrs Skint says, a DMP might be good in the short term. It will give you breathing space whilst you sort the rest of your life out.

Melanie recommends Brightoak, who post on here for DMP. This is their website
http://www.brightoak.co.uk/

Check it out, you don't have to speak to anyone and it will give you some idea of what it involves.

[Lisa2009]

It's understandable that you are scared. You have so much going on in your life right now.

Dont feel bad because you have said it more than once. We are all here to give you emotional support xxx

[look_divine]

cannot help but feel bad

[plasticdaft]

The feeling bad thing is natural,and soon goes when you start to make positive steps to sort your debt out,either through BR,IVA or DMP.

Oh or by winning the lottery!!!

[kallis3]

I think the sorting the debt problems out will happen before the lottery win plastic!!!!!!

[look_divine]

one lucky star on the euro poverty for me still LOL

[look_divine]

had a call from melanie today, as im still here with hubby and dont know when im moving she recomended a DMP till i move,
also got a interview with housing officer on fri morn so at least im getting sorted
thanks to everyone on here you have helped me through some dark times
XXX

[size5]

Keep your chin up, DMP's are relatively easy to arrange and really quite cost effective as well. There is also nothing to stop you looking at an IVA again once your situation has become that bit more stable.

Regards.