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I suppose I am justing thinking about the worst outcome ie IVA does not go through - but once you are in a DMP surely creditors will stop any action as they are being paid?. Other question is why does'nt an IVA start with a DMP? - one of the hardest thing I am finding about this process is all of a sudden stop paying everybody for two months while this thing is being set up (afetr struggling for too long making all payents and avoiding at costs missing any!) This means if the IVA goes ahead OK - but if not you are already really on the back foot two months in arrears. Whereas if the process started with a DMP then you would stop if successful and if not carry on with DMP? - I am sure someone will tell me why this will not work!

Can I begin to set up a DMP while I am waiting for the iVA to go through? just in case or could this prejudice the IVA

How long will the IVA take? - taken three weeks already and not really got past the intermediary yet![?]

Hi again ggr

The thing to bear in mind about a DMP is that is is not regulated at all, so some creditors may well decide that they are better off pursuing you at Court for attachment of earnings orders, charging orders or CCJs.

My advice, as one of the experts on this forum, is to stick with the advice and support you are being given by your own IP. They would not put a case forward that they did not think would be acceptable.

An IVA can be put together in 24 hours if necessary, or can take over one year - I have experience of both timescales, albeit both were extreme cases. The usual time period from instructing your IP is between four to six weeks, althought this can be much shorter if all of your paperwork is presented quickly.

Personally, I can see no benefit of entering into a DMP now, but I am just one of the experts on this forum and others may have alternative views.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk