Income + Bonus

[indebtforever]

so have you managed to get creditors to agree to freeze the interest?

[CJ08]

yes i have as they finally got passed out to collection agencies.... its was nationwide that wouldnt freeze the interest until that passed out to a collection agency... so i guess i have been lucky.... but if it passes to another agency again like one of them did they added their £25 fee as they do and that was it!

[indebtforever]

good news

good luck which ever way you choose[:)]

[CJ08]

thank you for the advice ill let ya know what i decide!!

[MelanieGiles]

It is always dangerous to count uncertain income as part of your salary for an IVA, as employers have a habit of withdrawing bonus schemes when the going gets tough. Certainly revisit this again when your payrise is determined.

[CJ08]

Hi all... I have decided to move my DMP from churchwood and increase my payments and go to payplan! so much easier no fees and about an extra bit more going to the creditors! Makes more sense considering my circumstances may change for the better in a few months and then do an IVA! Fingers crossed in about 4 weeks its would be transferred over!!

[Viki.W]

Glad you got it all sorted. Good luck with your DMP, please keep posting, lots of advice and support here. X

[CJ08]

I will do viki thank you! works out with the extra bit for now if i stayed on the DMP i would be paying an extra £85pm will shave off about 3 years of the debt should i pay it all in full woohoo!!

[Viki.W]

Wow CJ08, good choice then. Hope you pay it off quickly. [:)] X

[CJ08]

Hey i thought i should update you.... I finally got my proposal thru the post today just to see what this lovely company wanted to do! So i read thru it said my rent was £150 less than i stipulated ok.... then i see travel - public transport £300 ok i live in london but my public transport costs are £60 pm So after reading this thru i got advice to see if things were right what they were doing so if i was to do it and then send me statement off would be comepletely different!! So anyway they charge £2500 fee during the plan and each creditor meeting £500 no way am i going to do that as i felt they wanted to find away to sting me and leave me back on square one.... so.... For that when i get the chance over the weekend ill view my info with payplan and stick to my original idea!!! I had to let you guys know so cant believe this company can charge fee that way!

[Soulgrowth]

Just wanted to say good luck CJ08 ... you seem to be on top of things, make sure to let us know how you get on.

Debbie

[MelanieGiles]

Why not get a second opinon from another IP firm? Maniplulating your expenditure is not going to do anyone any favours, least of all you. Why do some firms seem intent on continuing to give this product a bad name???

[CJ08]

Yeah i spoke to your colleague melanie yesterday and it is best for me to stay on a DMP and go onto a firm that doesnt charge thats payplan! coz then an extra £85 is being paid out a montha dn reducing the debt so maybe in 6months to a year i would be more suitable for for one.... I think some of these firms are out there to make money and not really care for their clients esp these fees i was quoted and not once during the call were they mentioned! This product i do see as my solution eventually and this forum has helped me on my decision....

[MelanieGiles]

Keep those payments going in the meantime and those balances will continue to come down. You can always revisit the IVA if your circumstances change in the future.

[CJ08]

Yeah that seems my action plan for now my circumstances pay wise may change in 6 months but being well this time next year my gf may of moved in so she'll be contributing to the bills etc and i know next year for sure ill qualify but that plan may change! so ill keep on posting am finding this forum very very useful!