DMP no thank you, I'd still be paying it now and most likely for another 5 years at least. That is if they froze the interest for the entire duration.
I too had the same ambulance chancer letter that this company sent out at the start of my IVA. They knew nothing of my circumstances other than what is published in the public domain, and did not clear their mailing list against the mailing preference service.
For me I'm relieved to have chosen the IVA route to clearing my debt in a reasonable timeframe, yes as I had no assets going BR would have been the cheaper option, paying back effectly nothing - well maybe a IPO for 3 years. However some of us do feel morally obliged to pay back as much as we can over a realistic period of time. I borrowed the money, I have no one else to blame except myself.
My IVA has tought me to manage my money better. I've paid back just over 42K of a 70K debt in 5 years, yes that is more than I planned to do at the start after gaining a promotion within the first year of my IVA.
Now I'm effectly debt free, I'm just waiting for that certificate to arrive. So yes IVA's do work, but you have to work with them to make them a success.
As for credit ratings, IVA, BR and Debt Management are all fround upon when it comes to getting credit. They are all recorded on your credit file. So if you think going into a DMP will help your credit rating, think again.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
