hi kallis3 i will try this for a few months and c how mine business fairs in this recession its getting harder to make a living this goverment is living in cloud cuckoo land
Don't forget that if you have problems with this company, there is nothing stopping you from trying a different one.
Any questions or support, we are here for you.
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 Arrows. As you are self employed you need to be careful that the DMP company has taken your HMRC payments into account when calculating your surplus. Ensure that you are putting aside sufficient monies each month to pay all the liabilities to HMRC or when the payments on account fall due you will not have the money or the ability to borrow that money. This could lead to bankruptcy which I am sure you are trying to avoid if you are entering an DMP.
If in any doubt seek a second opinion from an IP as the advice is free.
i filled a form on the net next hour got a call from smooth saying to list all my debts i give them all my accounts numbers and they took it from there my debts are 83.000thousand pounds with 21 creditors did not say anything about a iva do not know alot about iva
Hi Arrows. You should contact an IP company for free advice. If this company did not explain an IVA to you then any advice given is clearly not complete. It may be that bankruptcy is also a suitable option for you but unless you speak to an IP you will not receive all the correct advice.
Any expert on here will always say the same thing as regards to this, and that is that you should try and speak to at least 2 or 3 firms before making your decision. That way you get a balanced view as to what all your options are and whilst there may be other valid reasons why an IVA is not a viable option for you, £500 per month would certainly produce a very reasonable dividend for your creditors whilst also giving the full legal protection that a DMP unfortunately cannot guarantee.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
Hi Arrows and welcome to the forum, that does seem a lot of money to be paying out, have you any idea as to how long it will take you to pay off your creditors by this means? Good luck with whatever path you choose to take in becoming debt free but please make sure it isn't to your detriment.
Om shanti, namesté, good luck to all who are embarking on the IVA journey, it isn't always an easy one but the outcome is the best.
IVA COMPLETED August 2012, received Completion certificate 18.4.13.
I agree - visit www.iva.com for a list of companies and reviews. Give one or two a call and the advice will be free and impartial, but you will be told of all the options available to you and the best one for your circumstances.
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
If they did not explain to you the full range of options at the time you first approached them, you may well decide that your interests are better served by a firm who is not motivated to offer just one service.
