Just wondering if anyone had heard of Debt Problems Managed Limited I am hoping to do a debt management plan with this company for 6 months and then try for another IVA
Sorry I have not heard of them so cannot comment on how effective they are. However,further to your previous post did you discuss the possiblity of a new IVA with another IP firm before trying a DMP? It would certainly be worth asking another IP to look over the original to see if the modifications proposed are standard or if it would be worthwhile drafting a new proposal. If creditors rejected an IVA at this time they may well do so in six months and also the DMP may not be accepted unless the payments are in line with CCCS guidelines.
yea they have the monthly figure is £202is this within cccs?
I am going to try an IVA in 6 months because my circumstances will have changed by then- Im moving out of home etc so expenditure will be different
I rejected my previous iva because with the modifications I wouldnt be able to afford the monthly payment
its weird because the payplan company also phoned me today- weird timing or what-! and when I asked them they said they get paid by the creditors so everything I pay back goes directly to the people I owe money to
however the debt managemet company I have today sent my paperwork off to say they will take their payment from the first monthly payment which leaves about 30 quid to go to my creditors
I also did recieve advice from the cccs who im now told can also help set me up with a debt management plan- so again I am confused as to what to do!
The CCCS and Payplan do not charge you but are in effect funded by the banks so if interest and charges are stopped the plan would be shorter than using a feepaying service.
I understand why the temporary DMP given that you are moving out and this will greatly impact on your expenditure. The figure of £202 is less than half of what creditors demanded at your meeting but as the DMP is a non binding agreement it is possible it will be accepted.
Finally, I wonder why you are not petitioning for bankruptcy. You had an IVA rejected and are now entering a DMP for a while until you can propose a new IVA. It may make more sense to bankrupt as it only lasts a year and advise the OR that you will be moving out of your family home in the near future which would impact on any incomepayments order/arrangement.
I'd also use one that is recommended on here - I've never heard of that company either.
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
Personally I would choose Payplan as I do my IVA through them and have never had any problems with them.
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
