Hi, wait and see how long a DMP will take to pay off your debts before jumping to any conclusions. If you use it as a temporary solution while you pay off your dad, BR will be inevitable but you will have achieved the aim which is to clear your dad's debt without him knowing anything. I recently told my mum and she was fantastic. You never do know how they will react! He may be able to wait three years while you're in BR. x
Thank you for your kind words and it really does help hearing from you guys, I know my Dad can't wait as he has kinda have a word with me via email (he lives in Australia) asking if I could increase the payments and make them more regular than I have been....
With A DMP, in my thinking and please correct me if I am worng, but this could go on for years couldnt it? I will give a couple of the experts on here and ring, possibly Friday night as I am home alone in the evening.
Yes, a DMP could go on for years. However, once you have paid your dad back you could consider an IVA again or BR.
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 - how much do you owe and how much can you afford to pay to your creditors each month? Someone might be able to guesstimate the amount of time it would take in a DMP. But also remembering you can step up your payments once your Dad has been paid off. If it's a reasonable amount of time you may avoid BR or going back into an iva. X
