www.iva.co.uk

can the experts tell me if and when the siva comes into place will this force out the dmp program as on the dmp program creditors can go in for the full amount if money at anytime that suits them and will it force dmp companys to shut down

JOHNPAUL

Hi John

I don't think it will have such a drastic effect as that, but undoubtedly more people who are currently ineligible for an IVA and therefore enter a DMP will be able to propose a SIVA. So DMP numbers are expected to reduce.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hi
This should mean extra business for IPs as DMPs are set up and administrated without the need for an IP wheras a SIVA will need to be proposed and administrated by an IP.
I wonder how DMP companies will fill the void in their business ?
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

hi there andy i agree can i say something andy can the creditor still say no when the sivas come out and if somebody who is in a iva can they go into a siva

JOHNPAUL

I think there will always be a need for the dmp some people just need it for the short term maybe due to time off sick and reducing payments for a few months, in that situation I think it is ideal and fits a gap wher an iva, siva or bankrupcy would be too drastic.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

i wish they would review dmp plans and change them and make then legal binding as this stops people who are in so much debt either killing them selfs or going bankrupt any thoughts anybody

JOHNPAUL

I agree with Ang - there will always be a need for a DMP. An IVA will work for a lot of people, but BR is another option. In my case it was my only option - I couldn't afford my IVA payments and I had to much debt for a DMP.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/