We're currently going through a DMP with Payplan. The dmp offer works out that we could pay all of our creditors back in 5 yrs (subject to them freezing interest). However, whilst most of them have accepted our offer, Barclays have refused. They say that the time it would take to pay back the overda...

vincent bond...it does seem a lot of money..but I have heard good things about them. I'm constantly changin my mind between payplan and vb.. i must make a deciison by the end of the weekend, as one of my creditors called me at work yesterday which was very scary!!

Hi..just a quick question for Melanie..does your firm arrange dmp's? Thanks

Hi..I've decided to go with a fee paying company to put forward my dmp. They've asked for 2 payments over the first 2 months of £750 (£1500) in total. The creditors wont receive any of this. The first payment to the creditors will be in the 3rd month. Is this noraml practice..as the initial fee seem...

good luck minime!

I have had dmp proposals from both payplan and vincent bond (they both advised that an IVA would likely be rejected). We've decided to go with VB as they were far more helpful and worked out our expenditure in such a way that allows for emergencies. Will be sending off paperwork in the next few days...

My partner and I have a similar level of debt and are able to offer a similar amount to creditors. We have been advised to do a debt management plan (which may take up to 7 years to pay back).

Yes..they have cut back allowances for house emergencies (repairs etc), entertainment, broadband and meals at work.

Hi...I've been speaking to Vincent Bond and Payplan and both have advised me to go with a DMP. Payplan have cut my expenditure back (from that advised by VB) by £150 (this includes an allowance for broadband which I need for work). This is alot of money. If I decide to go with VB, will the creditors...

Thanks everyone...I have a lot of decisions to make!!

Hi..I've been advised by Vincent Bond that DMP would be the best solution for me. They're preparing a summary for me to consider before I sign with them. However, I've just found CCCS's website and found that they provide DMP's with no fee. Has anybody else had experience of CCCS?

Hi. I've just been advised by Vincent Bond that a DMP would be my best option (rather than an IVA). I agree with this and am waiting to receive the application pack from them. However, I've just discovered CCCS's website (a registered charity) and found that they can adminster a DMP for free. They c...

Hi,

I've just been told by the National Debtline that I'm not eligible for an IVA becasue I have variable rate mortgage. Is this coorect? I can't switch to a fixed rate as my paymnets will go up from £435 to over £1000. Is this correct?

Hi Melanie..I'm already on an interest only so I feel I have no alternatives in terms of mortgages. Is it possible to adjust payments during the iva as interest rates change? Or is this too high risk for the creditors?

Hi Paul..I haven't had my house valued within the last couple of years, but I don't think there's much equity in it (if there is then it probably isn;t much more than 5-10,000). Thanks Deb