I just a quick question i have send in my paper work for my credits they have not set this up yet can i cancel my iva and go on a dmp. My wife will not remortgage this is joined mortgage many thanks.
There shoiuld be no problem cancelling if the IVA is not in place and without your wife's consent it would be wrong to proceed so I can only assume it is not set up yet.
A DMP may be the right option but it would depend on the level of debt and if this is only going to lead to CCJs, charging orders etc it may be better if the IVA was properly explained to your wife and she understood the equity release conditions.
It is also possible to propose a six year IVA at the beginning and completely exclude the property if your wife is adamant she will not agree. This may depend on who the creditors are and the current level of equity.
You could continue with the IVA application on the understanding that the house is excluded and suggest a six year IVA from the start, if creditors do not agree you can withdraw the IVA and look at a DMP instead