@Andyorch forgive my lack of knowledge but what will that do?

Barclaycard £12800 Defaulted 26/06/20 (currently with moorcroft chasing me, although I have made no contact with them) Taken out approx 16 years ago. Not paying anything now. Natwest CC1 £3560 (Currently 9 months into an 18 month payment plan to get my account back on track, now £300 below credit limit, paying £80 per month) Taken out approx 7 years ago. Natwest CC2 £3271 (Currently 9 months into an 18 month payment plan to get my account back on track, now £390 below credit limit, paying £80 per month)Taken out approx 7 years ago. Capital One £3341 (currently being chased for arrears) Taken out approx 12 years ago. Have stopped paying and am being chased for arrears. Next £945 (currently being chased for arrears) Taken out approx 10 years ago. Have stopped paying and am being chased for arrears. Paypal Credit £6060 (plodding along ok) Taken out approx 8 years ago

Thanks @andyorch. This is the process I want to go down but my wife (understandably so) is insisting that I get some professional advice. I'm going to mock up the letters and send them out as there is no downside (that I can see) to doing this. My only concern is that my left over disposable income would be too high for them to accept. I suppose that will require some discussion. As I'm new around here, would you be able to point me in the right direction of some of the successful cases? Thanks

Thanks for the advice. I'm on hold to citzens advice at the minute. Not sure how long I'll be on for. I have always made sure that BYOB debt is paid on time every time. The only debts that are racking up are the unsecured.

Hi, I've managed to get myself in a lot of debt. Around 30k. I've sat down this morning and worked out my income and outgoings etc and as it stands at the minute (with paying the minimum payments) I have around £50 disposable income per month. I've put together a spreadsheet that assumes the creditors would freeze interest and then divide the current balance over 6 years. This would leave me with £450 disposable income (going into savings as much as can for the first time in my life). The debts are :- Barclaycard £12800 Defaulted (currently with moorcroft chasing me, although I have made no contact with them) Natwest CC1 £3560 (Currently 9 months into an 18 month payment plan to get my account back on track, now £300 below credit limit) Natwest CC2 £3271 (Currently 9 months into an 18 month payment plan to get my account back on track, now £390 below credit limit) Capital One £3341 (currently being chased for arrears) Next £945 (currently being chased for arrears) Paypal Credit £6060 (plodding along ok) Would a plan of such be acceptable to my creditors using the Pro Rata letter template? Or would they want paying more over a shorter period to squeeze down on disposable income? Can I "hide" some of my disposable income on the expenditure template? With 2 small children to buy clothes and go on small UK holidays I need some form of disposable income? Even if most of it is going into savings. My credit rating is already trashed but after reading the IVA horror stories on here, I really dont want to go down that route. Throughout this week I wil speaking to mortgage advisors and explaining my situation and seeing if there is anything that can be done. I will also be speaking CAB and Stepchange to take advice from them. i'm trying to attack it from various different angles. I had been hiding it from my wife but was forced to come clean over the weekend. She is devastated as its all new to her. I'm partly scared to death but also partly excited to some light at the end of an already 7 year long tunnel that has played havoc withmy health (depression etc). Any advice is much appreciated. Thanks