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Hi everyone,
I am in a stressful situation and need some advice.
I have very old debts ( more then 12 years old ) totaling around £10K with various debt collector agencies ( Lowell, Capquest,Moorcroft, PRA ) where I am paying then £1 or £2 since 2012-2013.
some of them have F&F offer of 40% others are demanding payment in full or 90%.
Now I am married and have a joint mortgage with my wife, I am currently in debt of £37k with various credit cards and 1 unsecured loan, I am unable to keep up with payments and also some credit cards
interest free period is about to expire and I cannot get new card due to large debts.
I contacted the Stepchange and they suggested a DMP with current creditors of around £150 a month ( will take too long to clear, but I may clear this with F&F lower settlement and increase payments in few years ), my wife debts are under control and she will not be part of DMP, neither I want to tell her full picture about my debts, I am more worried about my house as I don't want to have any impact on my current mortgage, my fixed deal expires in Oct 25, and I am happy to stay with same lender when they offer new deal as I believe my credit file wont be matter then? kindly shed some light if my understanding is correct,and DMP is better option for me, I am scared of IVA as doesn't sound nice to me.
I have not informed Stepchange of my old debts, neither then are on my file, I want to close these off before I go in DMP, should I asked the debt agencies to send me CCA? do I have to include these in my DMP or I can keep it separate as these are not on my file ( I also pay them from separate account not from my main account )
I am in a stressful situation and need some advice.
I have very old debts ( more then 12 years old ) totaling around £10K with various debt collector agencies ( Lowell, Capquest,Moorcroft, PRA ) where I am paying then £1 or £2 since 2012-2013.
some of them have F&F offer of 40% others are demanding payment in full or 90%.
Now I am married and have a joint mortgage with my wife, I am currently in debt of £37k with various credit cards and 1 unsecured loan, I am unable to keep up with payments and also some credit cards
interest free period is about to expire and I cannot get new card due to large debts.
I contacted the Stepchange and they suggested a DMP with current creditors of around £150 a month ( will take too long to clear, but I may clear this with F&F lower settlement and increase payments in few years ), my wife debts are under control and she will not be part of DMP, neither I want to tell her full picture about my debts, I am more worried about my house as I don't want to have any impact on my current mortgage, my fixed deal expires in Oct 25, and I am happy to stay with same lender when they offer new deal as I believe my credit file wont be matter then? kindly shed some light if my understanding is correct,and DMP is better option for me, I am scared of IVA as doesn't sound nice to me.
I have not informed Stepchange of my old debts, neither then are on my file, I want to close these off before I go in DMP, should I asked the debt agencies to send me CCA? do I have to include these in my DMP or I can keep it separate as these are not on my file ( I also pay them from separate account not from my main account )
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