If I am on an IVA, can I transfer to a DMP ?

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Bernard.d

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Post by Bernard.d » Sat Jun 11, 2016 9:01 pm
If I am on an iva can I transfer to a debt management plan
 
 

relieved33

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Post by relieved33 » Sat Jun 11, 2016 9:18 pm
Why do you think a dmp would be better? Your credit rating is screwed, interest can be added etc. At least the iva is legally binding so offers some protection.

Think seriously and get professional advice from someone who has the benefit of your overall financial position.
 
 

kallis3

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Post by kallis3 » Sat Jun 11, 2016 10:23 pm
Hi and welcome,

Why would you want to do that? Can you give us some more details please.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

Shining

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Post by Shining » Sun Jun 12, 2016 3:59 am
Hi and welcome, in answer to your question, yes you can but it's not always advisable. Have a chat with your IP if you're experiencing difficulties and see if you can iron these out first.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Foggy

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Post by Foggy » Sun Jun 12, 2016 10:04 am
You can, by allowing the IVA to fail. However, you have no guarantee that all of your creditors ( or any of them) will agree to a DMP, or what conditions they might attach.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Lisa Thomas

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Post by Lisa Thomas » Mon Jun 13, 2016 10:38 am
and your assets will be at risk and risk of Bankruptcy etc ensuing. What is the reason you want to get out of your IVA? Suggest this is resolved instead.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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