Hi again ggr
The thing to bear in mind about a DMP is that is is not regulated at all, so some creditors may well decide that they are better off pursuing you at Court for attachment of earnings orders, charging orders or CCJs.
My advice, as one of the experts on this forum, is to stick with the advice and support you are being given by your own IP. They would not put a case forward that they did not think would be acceptable.
An IVA can be put together in 24 hours if necessary, or can take over one year - I have experience of both timescales, albeit both were extreme cases. The usual time period from instructing your IP is between four to six weeks, althought this can be much shorter if all of your paperwork is presented quickly.
Personally, I can see no benefit of entering into a DMP now, but I am just one of the experts on this forum and others may have alternative views.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at
http://www.melaniegiles.com and view my IVA blog at:
http://melaniegiles.blogs.iva.co.uk