Hi All
Long time no speak to, hope everyone is ok.
I am needing a little advice, we were in masses of debt a few years ago and was at the end of our tether, i got loads of advice from this site and you lot really helped me through. We applied for a IVA and it got refused and we ended up plodding along on an DMP this has been going on now for four years.
Either luckily or unluckily i really am not sure my partner had an heart attack two years ago and we had managed to keep up our critical illness payments which had nearly been cancelled a few times, we recieved a pay out and we managed to pay a lump sum of our mortgage (this was a big mistake) and most of our debt was cleared we left ourselves with four debts all adding up to still about 20k.
This is why i say paying a lump sum of the mortgage was a mistake we would have been far better of to pay the debt first but once again we learn and live our mistakes.
Problem now is i dont know what to do as we are still on a DMP with the debts and want to get of this we have contacted our mortgage company and asked for help and advice but unfortunately when we explained our mistake it is something they cant really help with.
Although the situation is not anything like or as as bad as it was a few years ago it is still stressfull and stasrting to pull us down again.
Any advice from anyone would be gratefully accepted.
Haven't spoken before as I am relatively new to the forum.
Sorry to hear of your probs.
If you cannot get any equity release from your house by re-mortgaging, why don't you try again for an IVA? There does not appear to be many rejections these days so might be worth speaking to your DMP company or other companies on www.iva.com to go through your options.
I never thought ours would be accepted due to the low dividend but it was.
Are both of you in work? Did your partner make a full recovery? I do hope so.
I would look into trying for another IVA as kazza has advised.
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
