Urgent Help Please

[muscles1976]

Hi guys, just joined and looking for some much needed advice.

I am on a DMP with cccs who have been really good to be fair. I owe just in excess of £40k [:(] and am looking to possibly go down the route of a IVA, depending on your advice and experience.

I currently pay £75 a month to these creditors who seem relatively ok with it. Never recieve phone calls hassling me or letters threatening me with court action. I have 3 defaults if I remember correct.

I am having a significant wage increase soon and am thinking whether to increase my payments on the DMP or go down the route of a IVA, I dont want to go down the route of bankruptcy however.

I would very much appreciate any advice and help, please guys.

[MelanieGiles]

Are you saying you pay £75 to each creditor or £75 in total? And what effect do you feel your salary increase will have on your ability to repay creditors - ie what do you feel your new disposable income level will be?

[LoneRanger]

Hi

Why dont you have a chat with an IP who will discuss all your options with you. Visit www.iva.com and have a look at the reviews there.

You would have to pay more than £75 into an IVA but how much will depend on your income and expenditure. This would be discussed in detail with you.

Melanie Giles who regulary posts on here is highly recommended.

Good luck.

[muscles1976]

Are you saying you pay £75 to each creditor or £75 in total? And what effect do you feel your salary increase will have on your ability to repay creditors - ie what do you feel your new disposable income level will be?

Hi, thanks for the reply [:)]

I pay £75 in total. I would be looking to be able to afford around the £250-300+ mark...

Can you help?

[MelanieGiles]

Then an IVA would certainly be worth looking at, as you would clear your debts at a much earlier stage.

[muscles1976]

Then an IVA would certainly be worth looking at, as you would clear your debts at a much earlier stage.

How would I go about it Melanie?

I am with the CCCS but wanted to get some info about the IVA before I take any action.

[maxdebt]

Follow the advice given by tryingtogethelp and visit www.iva.com. Take your time to read the reviews. Then choose Melanie Giles [;)]
Good luck

[MelanieGiles]

The CCCS also do IVAs, so it is worth having a chat with their insolvency practitioner as well!

[muscles1976]

The CCCS also do IVAs, so it is worth having a chat with their insolvency practitioner as well!

Will do, but will contact you also closer to the time if that is ok. Many thanks for your help so far [;)]

[MelanieGiles]

Happy to help where we can.