www.iva.co.uk

we have been with a dept managment for over two years can we ghange to a iva.

Hi
Yes you can and you do not have to stay with the same company dealing with your DMP.
It will depend on your circumstances as to whether or not an IVA is suitable
Regards

Welcome along, and Andy is indeed correct that switching from a DMP to an IVA is possible.

A good place to start is to go to www.iva.com and have a look round there, read a few reviews etc and take time to speak to 2 or 3 providers before making your decision, Andy is also correct in that it will depend entirely on your personal circumstances as to whether an IVA is viable for you or not.

Regards.

Hey nealbadcoe, just wanted to welcome you to the forum. Feel free to post some details so that the technical experts can help you. You'll get great advice and support here. X

Just one word of warning - your creditors by now will have got used to receiving regular payments from your DM company. What reasons will you give them for wanting to change - and why was an IVA not appropriate for you in the first place? Creditors may be reluctant to accept a write off, when their expectation is currently for you to carry on paying until their debts are fully paid.

I have to say Melanie, that we were in a DMP for 18 months before going for an IVA. We were initially told that we didn't have enough disposable income for an IVA (we ended up paying £648 per month into the DMP, which is more than we pay for the IVA!).

We decided to change companies to ones who didn't charge and it was them who suggested the IVA.

At no time during the setting up process were any questions asked by the creditors as to why we wanted to change, and we had stopped paying our DMP by that time. We also had no problems with the IVA's being accepted.

That's good to know Kallis - especially for anyone in a DMP who currently believes that an IVA represents a better option for them in the long term.