Sorry - me again! I was considering going for a vol debt repayment plan through the Consumer Credit charity, but as stated in my previous post, the figure they came up with to offer my debtors would leave me with NO leeway in terms of what I can do if (as it will soon) my car packs up, or I need to pay unexpected costs etc for my son etc etc. I'm told I can't go for a IVA as a. my wife is unaware of my debts (I know, I know...) and b. we have a mortgage in joint names (all my other c£50k debts are unsecured and in my name only). However, I've seen some posts that suggest approaching debtors myself directly might be the better way to go.? By doing this I'm really worried that they might suddenly call in all my debts and I end up bankrupt. My biggest debt is to Northern Rock (£28 taken out recently as their rate was better than what I was paying to other lenders) and I've heard that they can be really heavy handed re payment problems.
SO (getting to the point), do I go for a payment plan or approach debtors myself?? PLEASE help as I'm getting really desperate!! Thank you.