What absolutely appalling advice! How on earth did they expect you to hide the expenditure that you incur in looking after your horse - whether you do a DMP or an IVA?
They were my exact thoughts Melanie. They got an IVA firm to contact me and I had a chat with them but I havent taken it any further at the moment. I am trying to get to the end of April when I will get a bonus (didnt get one last year) as I would like to clear some debt with that. Is that the right thing to do? Would like to clear my overdraft and outstanding solicitors fees (from my divorce) and also give my parents back some money I owe them.
Once you have determined that you are insolvent, you should not pick and choose which creditors to repay.
I would suggest that you seek advice from a mor reputable firm than you have experienced so far, so that you can see what all of the options available to you are. This will cost you nothing, and even if you decide not to proceed with an IVA you at least have had the opportunity to get best advice on the options available to you.
Mel is right - you do need to speak to more companies than the one you have done.
Either click on the expert link on the left hand side of the page and contact a couple of the experts who post on here, or visit www.iva.com for a list of companies and reviews. The advice is 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 can understand your wanting to wait until you get your bonus as this would prevent your parents having to become a creditor during the IVA,and only getting back a dividend rather than the full amount you owe them.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
