You really do need to take professional advice. All of your options will be discussed and explained and you will be advised as to what your best option will be.
Whilst the help you get from this forum is good, it does not replace speaking to an IP and going through everything.
Only by speaking to them will you find out whether you are suitable for an IVA or not.
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
Hi Kallis3, I got an opinion and they said there is a 50/50 chance it will be accepted or failing that a DMP was suggested, but I don't know too much about them and the implications that they may have on a re-mortgage for example, (which is what I've been trying to obtain since March without success?
I thanku for your advice and appreciate what you're saying x
A DMP will have the same effect on your credit rating as an IVA - it will be shot! If you are behind on payments you may find it hard to get a remortgage anyway as your credit score will reflect this.
With Debt Management, it will usually take you a lot longer to pay it off.
Why not go for an IVA, then if you are not approved, you can do the DMP? You have nothing to lose.
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
Hi Julia
I think that you need to take a second opinion direct from an IP,Melanie is the ideal person to do this for you and will give you an honest opinion on your chances of success.
Most companies will not take on a case unless they were more than 90% sure of success and for someone to quote 50/50 I would walk away
regards
In working out whether an IVA is an appropriate solution for you Julia, you need to forget making ongoing payments to your creditors for a bit, and work out how much you earn and how much you need to spend on the essential items, such as your rent/mortgage, utilities, food and clothing, running the car and contingencies. Whatever is left can then be used to make an offer of ongoing settlement with creditors.
An insolvency practitioner would be able to help you to work out these figures, and help is really just a phone call away.
I would be rich!! I made the mistake of including creditor payments in there (d'oh!) but taking them out, I would be about £800 per month better off. So I could give them anything up to that I guess?
The difficult area though is my hubby, he really will need some convincing?
But for now thank you Melanie for the advice and when (and I think it will be a 'when') I need an IVA, I will be in touch.
