should I stop paying my bills?

[nic_23]

Ive been speaking to Debt Free Direct, has anybody had any dealings with them? What they are saying makes it sound too good to be true!

[aguise]

Hi Nic I would still ring another couple and see their opinions, as said the companies on here have good feedback and iva.com gives reviews on all the companys.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[sonyse2t5]

This is BIG debt for a 23 yuear old....I won't ask you how you spend your money....most big debts here with 60k - 90k have been accumulated by people in the 30s -50s and maybe with kids and mortages over a 10 - 20 year period.

You are breaking records

You need to speak to several IVA firms to find one that can put you through an IVA. You certainly need one as you could be in debt pay till 60!

[PastHope]

I have seen Debt Free Direct advertising like 100 times a day where I live, so have considered contacting them.

Also I have been advised with regards to "bills" that utility companies, council tax, tv licence etc are all payments you should make.

As you say you live with parents, it seems most of these you may not be liable for anyway.

[Skippy]

I would recommend contacting a smalled firm of IPs rather than one of the IVA factories - I feel you get a better level of service rather than being just a number.

BTW Sony - I ran up most of my £65k debt whilst living at home. I had no kids and no bills but I still managed to live beyond my means - it's easily done.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[Adam Davies]

Hi
Lets remember that we do not judge people on this forum.I,m sure that there are many people in their early twenties with far more debt than 50k.
regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[BECKY]

I was 24 when i started the ball rolling for my iva £46000 in debt still at home no kids and couldn't drive at the time so no car!!! when a credit card co gives an 18 yr old earning £55 a wk apprenticeship a £6000 limit there gonna spend it. Then u end up with one card to pay another to pay another , least u can see the problem and a dealing with it.
Good luck

[nic_23]

I have spoke to several companies today and all have suggested that I go into an iva, all of them have said that with my creditors agreement they could reduce my monthly payments to around £300 a month.

Having actually spent an hour on the phone to Debt Free Direct, I have decided to go with this company, for the simple reason that the guy on the phone actually spoke to me like a person, where as the others I was just giving answers to their questions!

Obviously Im not the only person out there who has this much debt, and its nice to recieve feedback from thos who have been through similar experiences.

Still, after having gone through all the questions with the guy from DFD, I was suprised to hear that they are going to charge me £900 a year to actually set this up.

[OPTIMIST12]

Hi nic_23

I am currently in an IVA (debts are much higher than yours I am afraid) and I think you will find that the £900 per year fees are fairly standard. There will also be the Nominees fee which is actually the "set-up" fee and again - I think - is pretty standard. These fees will be taken from your overall monthly payments and you will not have to pay them as an "extra". Your creditors will be aware of the level of the fees when they consider your proposal before the creditors meeting.

[Adam Davies]

Hi nic 23
Remember that it,s your creditors that pay the fees,not you,so do not get pre occupied with costs.Quality of service from your IVA provider is paramount.
regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[lizziej]

Hi - first time to write! I have just had my creditors meeting agreed for the 17th September - I used Debt Free Direct for the same reasons - they spoke to you like a human being, with respect and made you feel positive and not embarrassed about the situation - like they said - ok you have got yourself into the mess, however you are now doing something about it!
Just hope the 17th September comes and goes and I can get a good night sleep!

[nic_23]

Thanks Lizziej, I hope all goes well for you and that by then I have some dates for mine!

[lizziej]

Thanks Nic - just one more hurdle I seem to now have to cross - I have already moved bank accounts once from Natwest to First Direct, but reading the forum looks like when the IVA is approved (note my positivity)I will have to swap accounts again as HSBC don't do people on IVA's - nice people! Think about this - looks like the Co-Op are a friendly organisation!

[nic_23]

*lizziej

Yes, I have been advised my dfd to withdraw my wages and open a new 'step' account with natwest, they are supposed to be good. But I suppose if you have cresit with them... Never mind. There is a company called 'think banking' who offer services to people who have had debt problems. You get a meastro/switch card from them. There website is www.thinkbanking.co.uk but make sure u read all the small print. They charge £12.50 a month to operate your account, and theres a one off start up charge of £25!! So really I think just benifiting from us. So Im not even sure.... lol

Good Luck xx

[aguise]

Hi Nic
I am with thinkban king it is a good account and in my opinion worth the money a few on here have this account . If you have a lot of dbits going at different times it is great as they hold the money for these when you get paid and put the rest into the b account and that is what you have to live on. I always know how much money I have and no risk of spending the bill money. You can look at it theta if you ahd a prepaid debit card you may pay as much for that a month dependiing on your use. They will accept all and can be opened over the phone.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/