Another upset and confused newbie....

[Twaddle]

-edited-

[Viki.W]

Hey Twaddle, welcome to the forum. Glad you decided to post.[:)] I think, from what I've read on here, that MBNA will reject an IVA if they think that they will have their debt repaid over 10 years in a debt management plan. How much is your hubby offering per month? Keep posting and asking questions, everyone is here to help. X

[look_divine]

welcome im also a new bie tonight
lots of advise here
keep your chin up soeone will be able to help you

[look_divine]

i cant help you twaddle, i dont know how to sort myself hun

[Viki.W]

Twaddle, are you proposing a DMP or IVA? Are you with Melanie?

[look_divine]

viki whats a dmp?

[Viki.W]

Debt Management Plan, am informal arrangement you can make with your creditors to reduce payments but repay your debts in full. Depending on your debt, it can take many years and creditors may add interest and charges.

[look_divine]

oh right no good for me then
thankyou

[Viki.W]

Don't rule it out Look devine, it might be an option for you until you sort your new home and benefits etc out. If creditors do freeze the interest and charges it is good way to repay the debts, but not really a long term solution.

[look_divine]

yes i suppose it is, i want to be out of this house more than i want to be debt free is that mad?

[Viki.W]

Your sanity is more important than your debt. You need to put yourself first so no, you're not talking crazy! You need to take one step at a time.

[look_divine]

i have no sanity that went months ago, what i have at the moment is stil a sense of humour thankfully
otherwise id be shackled and locked up for life!!!

[Viki.W]

I think Philip Gill and co is Melanie. I may be wrong, so sorry if I am. Hang in there Twaddle and an Insolvency expert will advise you. I know that an IP should know about MBNAs rules so they wouldn't propose an IVA if they thought it would be rejected.

[look_divine]

i hope they are accepted
seems from what i have read more on here are accepted than rejected, but i havent read every single thread so dont quote me
I just hope when the time is right for me to proceed with a iva its accepted
good luck hun keep us posted, when do you find out if its been accepted?

[MelanieGiles]

Which company are you actually with? Self-employed cases always take a little longer to put together, expecially if historical financial accounts have to be prepared, so this is perhaps one of the causes of delay.