in dmp, am interested in an iva.

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J_S93

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Post by J_S93 » Tue Oct 07, 2008 6:12 pm
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i am currently on a dmp,i am interested in an iva.i have a couple of other debts that are not on my dmp which i do not want to put on an iva.will i be able to do this.
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Skippy

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Post by Skippy » Tue Oct 07, 2008 6:15 pm
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Hi J S93 and welcome to the forum.

Are the debts unsecured? If so they will have to be included in an IVA.
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MelanieGiles

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Post by MelanieGiles » Tue Oct 07, 2008 9:18 pm
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Skippy is right - all debts have to be included in an IVA. Why do you want to keep these outside as a matter of interest?
Regards, Melanie Giles, Insolvency Practitioner
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luluj

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Post by luluj » Wed Oct 08, 2008 8:16 am
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What is your level of debt and over how many creditors?? As previously said all debts have to be included in an IVA (without exception).

Why is your DMP not working for you ? Why do you want to change to an IVA ?

Consider the time you have already spent in a DMP - how much longer have you to go before it is cleared ?
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
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David Mond

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Post by David Mond » Wed Oct 08, 2008 9:27 am
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How long has your DMP been running? How much is being paid into it? How much are your debts that are not included in your DMP? Why were they excluded?

In an IVA all debts have to be included unless that specific creditor has agreed not to be and the IVA creditors agree to same. It all depends on the circumstances. Speak to an IP - find them on www.iva.com
Last edited by David Mond on Wed Oct 08, 2008 9:28 am, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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