good information

[razamataz_]

[:p]I came across an interesting site namely Insolvencyhelpline.co.uk
they have some very good stuff on there for debt advice and sample letters including token offers of £1 to do in negotiating for six months- there can sometimes be a willingness to write off debts later on but it also gives you time to play with to try to improve your situation.

I am amazed halifax cc have just offered this to me and i shall ask that if i do this that Interest be frozen for it to be workable and this may start the ball rolling with others this would be per month but you could do it per week like that.[:x)]
hope it helps
raza

[kezza]

Would creditors actually accept that??? That would be great to keep them off yor back [:u]

Can you do it while in the process of iva application or instead of?

[sammarchant]

just checked out the insolvencyhelpline.co.uk site, its really good. loads of interesting stuff for me to read about winding up a business.

[razamataz_]

just checked out the insolvencyhelpline.co.uk site, its really good. loads of interesting stuff for me to read about winding up a business.

[(#)] Hi Sammarchment,
Sorry I haven't used my PC for awhile but glad you found the website useful as above. And the Token Offer payment would be instead of IVA.

Actually I wrote back to the Senior Manager who suggested this and await his reply as he did not say how long for, it's usually each month!! Or how long for again usually six months. I think anyone who might need some time to find a way of making extra money during that time and could find a way to pay back at the end of it, say due to a website idea or something like that.

Anyhow some other clever dick has now written to me, another Senior Manager who obviously knows nothing about the past couple months and my having almost set up a negotiation,and is more aggressive, so i will bide my time. I have since spoken with Nationaldebtline too as i had my phones damaged by lightning!! the one i have left is an old corded so i leave it unplugged, due to no caller number facility on it, which is a pain and yet creditors still want me to phone them to discuss despite i've told them my preference and why.

I was considering WestLondonLaw and ADR but you have to pay for that service, but if creditors don't accept the Offer payments then it can waive any bankruptcy apparently. They use Psychology to weigh up creditors. Might be worth asking how much they charge it's such a pain trying to deal with creditors alone and stressful, and they know they have you under a barrel with their scare tactics of trying to break you down, which is powerful stuff.

Do you have a Community Law Centre near you it could be worth having a talk but usually debt adviser.
Anyway glad it was a help to you keep me posted as to how you plan to proceed and outcomes.
take care
razamataz_

[razamataz_]

Would creditors actually accept that??? That would be great to keep them off yor back [:u]

Can you do it while in the process of iva application or instead of?

[88]Hi Kezza,
It has been known for creditors to accept through CAB but if you have an idea for money raising like with an idea for a website or even ebay during next six months and could say you would like the chance to repay in the future and show you are genuine there is always a chance. Have a look at the Insolvencyhelpline.co.uk i came across the other week it might be helpful to you if you wanted to explore other avenues first if not at least it's a learning curve.
cheers[8~2]
razamataz_

[MelanieGiles]

Don't be fooled by the "£1 per month token payment and we not pursue you any more" arguement, the creditors will continue to add interest to these debts and you will end up owing more in the long run. My advice to all of you is - if you can afford to propose an IVA, do so, as it is the only certain method to become debt free other than bankruptcy.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk