| T O P I C R E V I E W |
| luckyone |
Posted - 29 July 2009 : 15:39:30
Hi all again i am so mixed up and stressed just been to a friend who is on a DMP and only pays a pound a month i was told if i entered DMP i would pay £200 a month and was advised to go Bankrupt why can some peolpe have what they want . If i could pay a pound a month to my creditiors then i would |
| 4 L A T E S T R E P L I E S (Newest First) |
| sjbyron |
Posted - 29 July 2009 : 18:44:58
good point gettingoutofdebt, when wa in a dmp of 44k paying £150 months lasting 300 months that felt hurrendus, I Couldnt imagine just paying £1 for an extra long time
Stu J Byron |
| gettingoutofdebt |
Posted - 29 July 2009 : 18:13:41
In a DMP you are expected to pay the full amount to creditors so it would be interesting to know how long the payments were going to take if your friend is only paying £1 per month. |
| sjbyron |
Posted - 29 July 2009 : 16:42:43
Also Bankruptcy provdes protection from creditors, whereas a DMP wouldnt as some creditors can change their minds at any time in the DMP and demand more or pursue further legal action.
Bankruptcy is the line in the sand and can allow you to move forward
Stu J Byron |
| Reviva UK |
Posted - 29 July 2009 : 16:34:27
Hi
everyones situation is different. you can obviously try different debt management companies to review what they are likely to achieve for you.
However it is worth remembering that if you were to go Br then you will be debt free while your friend will be in debt for many years to come.
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
