DMP Options

[batchy_21]

Re: DMP Options

Hi thanks for your help. I dont think they are un-enforcable the loans were 2010 and 2011 credit card 2013. Im not a homeowner and have no assets apart from my car £500 quids worth !! I havent defaulted. I dont want to completly destroy my credit rating but i think i will anyway. Not sure about BR but an IVA may work. Hope that helps thanks

[odetter]

Re: DMP Options

I meant to ask whether you are a homeowner?
Have any of your debts been defaulted?
Sounds like BR/IVA is not an option?

[odetter]

Re: DMP Options

How old are the debts, they may be unenforceable.
Not a great lover of DMP s, with a small number of creditors it's better to self manage.
Suggest you research around UE it may be appropriate to your circumstances.
More experienced members will be along later to advise.
Welcome anyway.

[batchy_21]

Hi All

Im after a bit of advice. I have just come through a divorce and didnt do well. I have £20000 of un-secured debt and i cannot afford to repay it as well as have a normal life.

I also now pay maintenance for my two kids. The debt are two loans, credit card, overdraft and my parents. The overdraft is 0% so is the credit card until july 2014.

One of the loans is in joint names with my ex wife, the court ordered me to pay £8000 and she pays the rest she paid her side but i cannot borrow the funds to clear it and now im concerned im going to get in trouble for breaching a consent order ! This also means we are financially linked.

I have done some research and thought a DMP would probably be the best idea. I am still in the process of looking through the pages on here but its quite confusing can i do a DMP and not effect the ex wifes rating ?? can i disassociate from her in another way ?

I thought stepchange looked okay until they recommended i still paid only £50 less then what im paying now !! Im probably going to give it ago myself. If anyone could post up any template letters and financial calculators that might help i would be really grateful.

Thanks guys all the best