Have you done a lot of shopping around or just tried one or two? And have you now found a firm that you are comfortable with? And importantly a level of disposable income that you beleive is affordable - taking account of the exceptional items you need to provide for during the year as well?
Not really melanie i think i am panicing a bit i get so many phone calls promising better deals. My pay is high but my debts higher. If you can put money aside in my plan for professional fees/contingence thats great.
My latest problem is i am with hsbc and i was yestreday refused a coop basic acount with no reason given! Am i a lost cause? Pay 2100 debt 4800
Definately not a lost cause! And it is best to take your time to find the right solution, than jumping up and down and choosing the first thing that springs up and appears to offer you the perfect solution.
Is the £4,800 the figure you have to pay to your creditors each month?
Last edited by MelanieGiles on Mon May 25, 2009 1:33 am, edited 1 time in total.
WinTheRace wrote:
If I am to enter into a dmp for a debt of approx 48000, initially paying 280 per month then perhaps increasing this by 100 per year, do any experts know what the likelihood/percentage chance of a firm issuing me a CCJ is if I keep up payments.
Thanks
Melanie the debt is £48,000 by the way.
If in a DMP I have not known any creditor to break ranks and attempt to to get a CCJ. Once the DMP programme is set up and agreed with creditors it will continue and as long as the monthly payments are made then no problem.
WinTheRace had special reasons for wanting to do a DMP as he did not want anyone to know about his financial position which by doing an IVA would be published on the IVA Register.
An IVA can be tailored to cover any contingency for large payments outside normal monthly expenditure.
I suggest you re-discuss these matters with your Abacus Advisor if you believe your circumstances are not what you initially discussed to see if any changes to the advice tendered should be changed.
Last edited by David Mond on Mon May 25, 2009 6:33 am, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
