Just need to get some of your thoughts as yesterday I was in a bsolute state, cried so much that today I am dehydrated...lol
Anyway I got in such a state as me and my husband have built up 40k of debt mainly due to what we pay on cards is working out to be the same as the interest and we have go no where. Tried sorting out a IVA but it was getting so complicated due to me being self employed and as I cannot afford to buy stock, well everything is just going wrong. Anyway as soon as I hung up from the IVA company after getting so peed off with them I decided in a flash to do a DMP and do it myself. So i picked up the phone to MBNA which are my worst ones and the biggest debt to to sort it out. I have to say all the horror stories that I have heard I was really pleasantly surprised and he did try to set up a DD there and then but I refused to give him details as they still need to get my account authorised. Any way sorry I am waffleing.
Right well he took my details in betwen me crying my head off and workewd out that they wanted basically half they payment I pay now and month and that I will need to go in front of a board to authorise it and to freeze interest.
Now what do I do if MBNA come back with a NO and they wont agree to this, des any one have any ideas.....Or have a i waffled so much none of it makes sense.[:I]
Don't forget that you will need to do this with all your creditors. You might find it easier to let a DMP company do this for you, or there is a site which can help you to do it yourself:
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
Hi Thunder - you certainly need professional advice from a firm experienced in doing IVA's for the self - employed (if that is the right option for you.
It is never wise just to negotiate with one creditor on their own.
You need to have a chat with an IP and give him/her details of all your personal and financial circumstances and particulars.
Visit www.iva.com for reviews on firms and practitioners and select one or two to have a chat with.
They will give you the appropriate advice and it is free.
So do this now.
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.
