Hi, they also issue the same documents for an IVA. They require you to sign the restriction form, and this gets sent to the land registry. It is just so you do not sell your home without letting the OR know first x

I agree with the above, the bank may use the right to offset and freeze any monies in the accounts you have with them to clear your debts. I would suggest you look into transferring this money out of the Natwest ISA and move it to your new safe account, along with all other income, so it is all safe. x

Hi Technically the DMP is informal, and you do not have to send any information in to back up your income and expenditure, so although it would be courteous and improve your offer to your creditors, your DMP and creditors are not going to know any different about your increase in wage if you do not tell them. You are not obliged to send your creditors payslips or bank statements - now that you are with payplan, sort everything through them. I would suggest contacting payplan to explain these creditrors are asking for information from you, and payplan can tell you best how to deal with these. Because it is an informal arrangement, the crediors sometimes want to get you on their side for you to make arrangements with them (where the charges will not be frozen). I hope this helps x

Hi I am glad to hear that you managed to get in touch with someone. Although they are free, and busy, this is no excuse for them to lose their client care and should make the time.

I know that sometmes you can fall liable for a lump sum payment depending on how many payments you have already made. Therefore, have a look into this in more detail x

Yes, they have gone ahead and ruled against you. Usually they would have a hearing, which is very unfair. However, I would suggest that you contact them in writing to have this set aside before it goes any further. Is this for a CCJ, charge or stat demand? Have you had any previous claim forms?

Hi I am sure that anyone who originally signs as a personal guarantor for any business debts, may be chased and liable after the company has gone into liquidation

Hi I know that you should receive a letter of assignment from the original creditor, and the new creditor

Yes, what made you not take up the bankruptcy option in the end, was it anything in particular? x

Hi MBNA usually get Apex to chase debts on behalf of them, if you have any MBNA debts? Otherwise they may have purchased or taken the debt from someone else. If you write to them, asking for the original creditor and account details, they will give them to you. Otherwise in the meantime, find out what the total balance is, and see if it is similar to another debt of yours, which could mean it is the same account. You would need to explain to them when they call that you do not know who they aer dealing on behalf of, and see if they can confirm over the phone, otherwise, I would send a written token payment of at least £1 x

Thanks for clarifying that stewpots, I knew you had to prove a certain amount of months x

Hi Stewpots If you cannot afford what your IVA company is proposing then the first thing to do is contact them to inform them of this. Nothing is set in stone until the approval of your IVA. Up until this point, you can amend any offers put forward and cancel at anytime (mostly without charges, depending on which company you are with). If you contact them, and explain you do not feel able to afford the payment put forward, they will arrange a new payment with you that you feel more comfortable with. I know that a lot of creditors are now accepting as low as 10p in the £, and IVA companies are trying this offer. If you find you are going overdrawn each month, you need to look into the reasons why. When you are setting up an IVA or a debt management plan, you will be advised to change accounts, or clear and cancel your current overdraft to start afresh. You need to go through an income and expenditure in detail to find out exactly how much you can afford to propose. If you do have less than needed for the IVA, then you could go into a debt management plan and pay, for example, £50 a month between all creditors until your surplus income increases for an IVA. Regards to your credit rating, it is affected by the IVA, but it is only on your credit rating 6 years from the date when your IVA is approved, and then it is wiped clean again. The advantage with IVA over bankruptcy is that your assets are safe. x

Thats good then, glad you've got it sorted x

Hi there For the IVA, I am sure that you must show that you have not gambled for 6 months before trying this. However it is a good arrangement for some. You can propose a surplus that you can afford to pay, and then if your creditors accept your offer, you can pay this each month for 5 years and then be debt free. In the bankruptcy, this would take 12 months, however if you would not adversely lose your job in bankruptcy, you would need to pay into an income payment order for 3 years. You would need to take into account that bankruptcy does carry a stigma attached to it, such as it may be advertised in the local newspaper, it can affect certain professions and promotions, and it can affect future credit. Also, if you have any assets, these will be at risk, whereas in the IVA all assets are protected. xx

I think it is if you have high luxury expenses that you pay for that you may be asked to cancel these, especially if you are paying into an income payment order. However, with the items you mention above, you should be fine x

Hi, with you saying you have no case worker at the moment, your case should be and will be dealt with by someone within that company/department in their absence, who will be able to help and advise you the same as your case worker did. Call the company back who are dealing with your debt problems, and insist that you speak with someone who can help with your case. If worse comes to worse and you really have no case worker. It may be worth looking to go with a different debt management company who would be able to work on your case for you x

Hi Siza I agree with the above, if you are out of work, you need to draw up a list of your outgoings, and debts. I would then suggest you see if you are entitled to any benefits to boost your income such as job seekers. If you have no where to live, have you called the council to see if they could get you on their list? A site that may help is www.entitledto.co.uk

We need to see if the agreement is enforceable or not before going any further x

Is the staff loan a seperate loan, or one thats payments is deducted from your wages? I would suggest if it is a seperate loan to contact whoever deals with the staff loans to arrange a payment with them to suspend further legal action. The CCJ letter could have been a threat to try to scare you, but probably best off making a pro rata payment to them in meantime. With regards to the housing benefit, if your income has nto changed, i dont know why you would now be entitled. However, as you say there is no harm completing this just to see. Just be careful of a possible overpyament. Have a look on www.entitledto.co.uk to see what you are entitled to xx

I would suggest that if this is the minimum you can afford, to continue making the payments, although they say they will not accept them (they will cash them). they may default your account and pass this onto a dca, who you can then arrange a repayment with.

If your vehicle is worth less than £2K, the official receiver would let you keep this. Also, if you need the vehicle for good reasons, then the OR would also look favourably on this.

Hi, as Martin has said it would be good to see how much you owe, and how much surplus you have as to what arrangement, or route is best for you. If you are not in stable employment, a debt management plan may be an option for you, so that you can make a monthly payment into this until your debt is cleared. A lot of companies have good success rates with getting the charges frozen too.

May I ask if you have received a lump sum from your redundancy? If you have, depending on how much you owe, you could offer this as a full and final settlement to your creditors to clear the debt in full. You could write to all creditors asking what the minimum is that they would accept, and then make an offer with this lump sum. Alternatively, you could make monthly payments to them out of this amount x

Hi, I have just read your posts and it may be best to contact them and offer some kind of monthly payment to them.

With it being an unsecured debt, and not council tax, the bailiffs may agree to an extension of time. A lot of the time with these debts, the bailiffs try to get some kind of arrangement in place with you before having to come into your property and take your goods. It may be worth drawing up an incoem and expenditure for yourself to see what you have left at the end of the month, and just agreeing to pay this full surplus amount to the bailiffs say for the next few month until cleared. If you do this before you call them, you will know exactly how much you can afford x