www.iva.co.uk

I'm with a debt management company called Harrington Brook. Me and my husband pay them a set amount each month to pay all our creditors. And one of those is Monument. For the last 2 or 3 weeks they've been calling me every single day, including weekends, asking for more money. They say that Harrington Brooks isn't paying them enough. Sometimes this can be twice a day. We are getting really hacked off about this. Harrington Brooks has told us to tell Monument to get in touch with them and to put the phone down. I have done this on a number of occasions, but they're STILL calling!

I feel like I'm going crazy! What can I do?

Louise
[:(]

Hi Louise

How much are you paying the debt management company, and how much do you owe in total to creditors? Do you feel that you could afford to pay any more money to creditors?

Well, our total debts are about £20,000, and pay them £100 a month. That's not a lot I know but don't have much of an income at the moment, although they have rang up today (Harrington) asking us if we want to go into an IVA for £140 a month. We're considering this (which is why I'm here really lol.) I owe monument about £3,000. One company we owe £8,000 and they never phone.

If you can only afford £100 per month, how do they expect you to pay £140. That £40 increase can be the difference between having a reasonable lifestyle or a very miserable one. Do tread carefully before accepting such a jump in payments just to get an IVA.

I agree with Melanie.

Don't agree to anything that you cannot afford. £140 a month is a low figure for an IVA anyway. Remember that an IVA is a legal agreement and you would have to keep up these payments for five years.

Thanks for your comments. 5 years sounds tempting though to the many years I *will* be paying my debts for. I haven't gone ahead with it yet anyway.

Monument have just phoned me up AGAIN. I've done what Harrington Brooks have told me to do, told them a financial statement is on the way & hung up.

I hope you get it sorted Louise.

If you do get more disposable income, then an IVA is a possibility.

Think long and hard before committing yourself to five years of a very miserable existence.

Hi Louise. If both or either of you have individual debts of less than £15k and a DI of £50 or less a debt relief order may be the appropriate option for you. Your local CAB could advise further.

Thanks Michael. I've never heard of a debt relief order before. I'll look into that.