I used templates and advice from the national debtline website to negotiate significantly reduced payments with my creditors. All agreed (and froze interest) quickly except one, who just ignored my letters. At this point I handed everything over to CCCS as I decided I wanted someone else to have the...

Thanks for your reply Michael. So I might be better using the money to offer informally as early settlements rather than the formal IVA route? How open to this are creditors usually? You also mentioned about additional equity, do you mean over and above the amount of my mortgage reserve? There is ab...

Hi I have been following the forum for some time, I would like to be able to have an IVA but my disposable income is low and, as I work in the voluntary sector, is also insecure because of the nature of the funding of my post. However, my mortgage comes with a reserve, up to the amount that has been...

Hi My situation is that I owe £60k and am currently on a dmp paying a token amount of £5 per creditor each month as my only income at present is statutory maternity pay. My partner is giving up work to care for the little one for her first year as this makes more financial sense than him working and...

Hi Are the creditors going to freeze interest and charges during these six months or are they just going to "consider" the freezing of all charges ? Good point Andy. The token repayment scheme also assumes that the person's situation would improve during the six months of paying £1 a month. I would...

I was very interested in this thread as it reiterates the question that I raised in a post a little while ago about whether there is likely to be any new debt solution brought in for people for whom none of the current solutions are suitable or desirable. I doubt that it is CCCS who are saying that ...

What a strange attitude to take, surely if someone has little or no disposable income then whoever they seek advice from will not be able to magic more income from somewhere? In addition, from my experience a lot of people who have little available income have experienced difficult times (relationsh...

I can't really comment on any of the commercial DMP companies, I am with CCCS and have felt very supported by them so far. All of my creditors have (so far) frozen the interest and accepted a low monthly payment from me. Prior to that, I negotiated with creditors myself and was successful with this ...

Thanks Melanie I found this link to the CAB's response to the plans:- http://www.citizensadvice.org.uk/moj_statutory_debt_management_plan_email_version_to_send.pdf and was hopeful that something like their recommendations might provide the way forward. Do you think then that this is unlikely and tha...

Hi Sarah I noticed on one of the other threads that you made reference to statutory debt management/repayment plans. This is an area that I am interested in as none of the debt solutions are really suitable for me at present (high level of debt, some equity in house so cant go bankrupt, insecure low...

Hi there Sorry to hi-jack your thread Goosed, I am also on a tracker mortgage and was wondering what happens with these in an IVA - mine dropped 200 from one year to the next but I am fully aware that it is likely to rise in future. Can something be built into the initial IVA proposal that recognise...

As those of you who have read my post and kindly offered advice and information, I am in the process of considering an IVA. There are a lot of factors that mean it isn't a simple decision for me at present but hopefully will become clearer over the coming months. One of the things that has become cl...

Hi I was interested in your post as am looking into an IVA myself but, following a breakdown last year, am concerned about committing to something for five years when a) my contract is renewned on a yearly basis so isn't secure and b) my mental health may go downhill again. I just wondered what expe...

Hi Michael My mortgage is a tracker, the reason it is so low at present is because it is reviewed annually and the changes in base rate applied at that point and on the last review I had overpaid last year so had my repayments cut this year to balance it out. The consultancy element of my work is on...

Hi Sarah Thanks for your post. I have found CCCS to be very supportive and have kept them informed of all changes in circumstances. As mentioned in my other posts, I am looking at ways of increasing my income, it is just that it is a very difficult climate to do that in! I am not normally a negative...