Right to get straight to the point my mother in law is in about £7,000 worth of debt to one creditor, being a bank account & credit card, she's got herself into trouble & stopped paying & changed bank accounts about 2/3 months ago, can't afford the repayments or to pay off in full. Moved house about 2 weeks so no longer getting any letters, but not opened any letters that she has had & saving them for me to open. Which I'm not going to get to do till at least after Christmas.
Being away from the forum for so long (which I miss) I'm stuck where to start as to what to do to help her. I remember debt relief orders & Debt management plans may be suitable but I'm out of touch & could really do with being pointed in the right direction of anything that could help.
So any help at all would be really greatful.
Many thanks Lyns X
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
Hi Lyns ..good to hear from you although not necessarily in these circumstances.
Your right that a DMP or debt relief order maybe appropriate route. She needs to speak to couple of experts for guidance as without knowing her full income and expenditure details forum advice is limited. It might be worth looking at profiles of the experts on the page and contacting two or three of them.
The local CAB may also be of use for more local advice
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
I also think the CAB may be a good starting point, taking all her expenditure and income details along to her appointment. As you know there will be a solution but finding the best one is key here.
x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
failing which, as its only one creditor, she could contact them and get some time to pay and see if they will freeze interest, basically a debt management plan but cut out the middle man. This will mean she will need to pay the debt back.
3rd alternative will be to get a third party to offer a F&F settlement.
This depends on your mums financial situation - disposable income and assets etc.
Hi - thank you for all the replies, all have helped me feel I can help her better. I roughly know her income but her expenditure I don't know, I know she has no assests or savings or means of getting hold of any money.
My MIL works right through Christmas & im not going to get the time to go through her I&e till after the Christmas period.
I'm glad she told me n she knew of our previous IVA & time I spent on the forum, which I'm still forever grateful too for getting us through a IVA.
I will chat with MIL n let her know all the above & be back in touch to get the help she needs. Thank you x
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
It is good that she has stopped paying and once she gets Christmas over I would be tempted to take Mike up on his offer of help with a DRO. £90 to get rid of £7,000 seems a pretty good deal to me!
With regards to a DRO, Viki who posted on here and now posts on the sister forum has just been appointed an intermediary for DRO's and can be contacted via Vincent Bond.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
