I've just replied on your other thread - it's better to do it through a company and then you know the creditors will leave you alone and no interest will be added.
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
You could do a DIY DMP (Debt Management Plan), but there is no real point as, if it is the right course, Payplan will do it for you at no charge ( they get funded by the creditors ). Their weight makes it more likely that interest will be frozen, although this is never certain.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I haven't come across pay plan were only really at the start of our journey and feeling somewhat intimidated by the restrictions of the iva. It sounds ideal but the tight restrictions frighten me and with 3 kids it worries me how well pay for Christmas, birthdays, uniforms etc.
Payplan is one of the two main "charity" debt solution providers. Personally I wouldn't recommend them for an IVA .. they charge the same as everyone else for those. But for a DMP at least all of your payments make it to the creditors. Stepchange is the other main contender in the charity status stakes.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Have to say Foggy that we used Payplan and therey were good for our IVA.
It is each to his own though.
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
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by kallis3
Have to say Foggy that we used Payplan and therey were good for our IVA.
It is each to his own though.
I have to say that, for the number of cases they handle, there are relatively few complaints about them. They seem to be OK, as long as things run smoothly. I just have issues with the fact that the IP is overloaded and never available and the way they calculate disposable income where one partner is solvent.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
It would apply equally to other IVA companies offering this type of product and I can see why certain claim companies jumped on the bandwagon.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
The only time I had a problem with them was one Christmas when I needed to speak (the usual - letter arrived at the weekend!) and they were shut for two weeks! Otherwise they were fine and I did like Payplan Plus so you could keep an eye on your account.
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
Do you have any lump sums available? I helped a couple negotiate last year - it was hard but we managed to agree creditors to write off £70k and accept £6k in f&f!
It's always worth asking and exploring all options.
New to this and so much to learn!
We have about 10 creditors - all credit cards. Don't have any lump sums at the minute but could potentially in about 6 months to offer some settlements.
It's a full and final offer in which you offer your creditors a certain amount to complete your IVA and then you are debt free.
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
I think that by exploring all of your options and recognising early on an IVA may not be the ideal solution for you, shows that you are certainly thorough in doing your homework.
I'm sure you'll find the right solution and so glad you found us and any questions you know we'll do our best. With experts posting too, you can be reassured of the correct up to date information.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hi if that's the case then I would contact them and ask them to freeze interest etc/pay the minimum sums you can whilst you get back on your feet then try and settle in 6 months time. If this is then not possible explore other options like a Debt Management Plan ("DMP") or an IVA (or possibly Bankruptcy depending on your circumstances).
