currently in a DMP, should we go for an IVA ?

[Andrew Graveson]

Hi Carl,

So it was the Court that ordered the payment rather than the creditor?

[carlmcmullen]

Yes - i suppose it was, but it is normally the creditor who proposes the amount, the court just agrees it.

[annie.m]

crickey!! a lot to think about there, i was under the impression that the creditors would be happy to get what they do, i didnt realise they can suddenly change thier mind and i cant do anything about it! although they have all been ok with the payments for the last 2 yr, fingers crossed i get the other job so the payment increase, i just want to see the end of the debt so we can start living again, they were uccured from mine and my husbands previous marriages, which seems pretty common now!

[go_4_broke]

Hi Annie

In most cases your creditors will be happy to get what they do.

Once regular payments are being made a lot of them will just doze off and lose interest, sometimes for years. A common reason for one suddenly waking up is if the debt is sold off to a 3rd party.

It's always good to have a plan 'B' tho. For instance, if you decided from the above posts that you were best off sticking with your DMP, then do any necessary groundwork to enter an IVA should you need to do so at a future date if one of your creditors gets lairy and threatens your property.

Best Regards