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Posted: Sat Feb 27, 2010 1:16 pm
by jim_h
my total debt is 15400 pounds have been asked to pay 285 a month which would mean a total off 17600 over 5 years is this correct any alternatives am now back on full pay but no o/t at moment
Posted: Sat Feb 27, 2010 1:38 pm
by hoobily
Hi I'm sure one of the experts will be on here shortly to help but I thik that sounds about right as you will have IP fees to pay for the 5 years. And your total debt will be paid off.
Hope this helps but like I say I'm sure someone will be on soon
Posted: Sat Feb 27, 2010 1:45 pm
by kallis3
You will never pay back more than you originally owed, plus IP fees, so this is probably what has been factored in.
Posted: Sat Feb 27, 2010 2:23 pm
by Adam Davies
Hi Jim
Are you actually in an IVA yet or just considering one ?
You may be better looking at a debt management plan, has this been discussed with you ?
Regards
Posted: Sat Feb 27, 2010 2:31 pm
by kallis3
Having checked through previous posts, it would appear that Jim isn't in an IVA.
In that case, I do agree that a DMP might be better for him.