Hi and welcome to the forum. You say a debt plan...do you mean a DMP, debt management? If so yes you can investigate the possibility of an IVA. however if already in an IVA then it's about impossible to swap companies.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
You can enter into a formal agreement with creditors if your informal arrangement of a debt management plan is not working for you. Speak to two or three insolvency firms to establish your best way forward before agreeing to one. Best of luck and let us know how you get on.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
The downside of DMP's, although a valuable tool in the fight against debt, is that you simply cannot give anyone an end date with any certainty, as creditors can still take further action, add interest etc.
Whilst an IVA has much more certainty built in, it doesn't follow that an IVA is the right way either as there is too little info in the original question to be able to comment further.
That said, if the conditions are right, and an IVA is appropriate, then it may well be the best road to take. Don't forget that Bankruptcy, or a Debt Relief Order, may be appropriate as well, so having an open mind as to the pros and cons of all solutions is a must I reckon.
Best to get 2 or 3 impartial opinions, as suggested, and then make your own mind up from there.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
