www.iva.co.uk

Hi all, I'm hoping that someone out there will be able to explain a response from Cahoot that I don't understand.

My husband has just started a DMP - two payments in (I realise this is an IVA forum, but having followed the forum for some months, this seems to be the best place to get advice and answers!) and our DMP provider has had a response from Cahoot that I don't understand. They have said that they have closed the accounts as they are deemed uneconomic to pursue. They have previously gone to DCAs but have now been returned to Cahoot. I can't believe that they would just write off the debts! Any idea what may happen next?

Any help/ideas/advice gratefully received

Anna

That's a new one on me Anna. Did your DMP company not explain it to you?

One of the technical experts should be able to help you.

Hi

I've just picked up an email from our DMP provider with some updates from creditors and of course I can't contact them until Monday. I was really just wondering if anyone had any ideas as I do worry about things I don't know/understand - and waiting is just horrible! I guess patience is not my strong point

Anna

Wait until Monday to discuss with Simon (Andrew is on holiday!).

But it does seem likely that Cahoot have written off those debts.

Thanks Melanie - I do feel cheeky posting DMP queries on an IVA forum, but you're advice is always most valued. I just wanted a little peace of mind over the weekend.

Anna

how much was the debt to cahoot?
would be great if they have

Cahoot credit card was just over £5K and Cahoot overdraft was about £2K.

And yes, it would be fabulous - it might not seem much when the overall debt is over £100K, but in the immortal words of Tesco ... every little helps!

Anna

would be b***** marvelous for you wish they would pay all mine off LOL
think not woulodnt be so lucky
Hope they do keep us uptodate with it

thanks look divine

we're in it for the long haul (possibly up to 11 years) but I'll be sooooooo glad when he's finally debt free! Not that I'll ever let him borrow money again lol

Good luck to you too!

Anna

cant you do a iva? or is that not feasible

Wasn't viable unfortunately - we did look into it first of all, and OH really wants to avoid bankruptcy (works in finance) if he can, so next logical step was DMP - or running away to Brasil under an assumed name

lol wish i coulod do that to

Sounds like you have been lucky and they have written off what you owed them, good for you!!

lol I've think we've all contemplated that route and besides we don't have a canoe!

then again could pretend to be dead LOL
hence canoe