Hi my debt totals around 53k and im in a dbet management plan with gregory penningtons, my parents are offering a lump sum to try and pay everything off for me but how much do you think would be acceptable?? There looking at max 20k do you think thats unrealistic?? My debt management polan would continue for about 25 years to clear at rate of pay at present? Thanks x
I think you may have to run this past your company - I've no idea whether or not this sum would be acceptable. One of the experts can hopefully advise.
If it isn't acceptable have you thought about doing an IVA?
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
A one off IVA may be a better option because it would be dealt with there and then. To try a settlement needs all creditors to agree and this can take a long time whereas an IVA proposal needs a meeting of creditors and majority rules.
