www.iva.co.uk

I have debts of 45,000 and got in touch with debt management company and have been paying £400.00 A MONTH and the company are taking £75.00 for themselves. I am still getting demanding letters from some of my debtors. i thought it would be less stressful, but i am know getting irrated with the company as they are not sending monthly details that they promised. Can I still arrange my debt another way

Hey w.m, welcome to the forum. Was there a particular reason for choosing a debt management plan in the first place? Unfortunately there is no protection from creditors but your company should be handling this for you. You could always change companies or speak to an Insolvency Practitioner who could go over all of your options. This forum is great for advice and support so please hang on for a technical expert and if you could post a few more details, then that will help. X

Were you advised to do a DMP over an IVA as a matter of interest, or did you freely choose this route?

With the amount that you are paying compared to the amount you owe, an IVA would be finalised much quicker for you and you would get full legal protection against any ongoing legal action being taken by your creditors or continued demands for payment.

With that level of debt and contribution it will pay you to look into whether an IVA is a more suitable option. Speak to an IP to investigate it.