As Melanie says, please try and focus on the positives rather than the negatives.
My own opinion, and it is only a gut feeling, is that we will see an initial rise in creditor requests for DMP's rather than IVA's. As both systems are based on affordability, then really there should be very little difference in payment, if anything, so the fear that you can't afford it should be groundless.
Also, as DMP doesn't guarantee interest frozen, though to be fair most creditors are very good at doing so for genuine cases, and as you tend to get creditor hassle for longer under DMP (again in fairness it doesn't last for ever) the failure rate for DMP's tends to be higher than it should be in the first 3 or 4 months.
My own feeling, therefore, is that creditors cannot have it both ways. If they reject IVA in favour of DMP then they are going to have to demonstrate fairness in being co-operative to DMP re interest frozen, reduction or cessation of hassle. If not, then I personally would have no problem in going to another IVA proposal very quickly on the basis that the informal arrangement that was encouraged is not working.
Hope this makes sense to you.
Regards.
