www.iva.co.uk

Hi im currently setting up a DMP, just been thinking things over and was wondering if there is many problems going from a DMP to a IVA?
circumstances for the DMP are that im seperating from husband and untill im left and settled I cannot go with a IVA
Just wondered if there is any usual problems transferring from one to the other?
thanks

No there shouldnt be any problems and while you are in the DMP, you are already showing your creditors that you are trying to repay your debts. This should be looked upon favourably when the time comes for an IVA creditors meeting.

thanks mrs skint

Not at all - it is very sensible to do the DMP whilst things are uncertain for you, but once you get settled into a single mum routine and you know where you are with your finances (and child maintenance claim) then it may be sensible for you to change to an IVA.

i know that melanie just wondered if there is any problems switching or do the creditors usually feel its ok?

Generally, so long as the switch is for a good reason and represents a viable option for the creditors.

oh crikey that dont sound good

That's nothing to worry about. I swapped from a DMP to an IVA with no problems at all.

Your switch will be for a good reason (although I didn't have to give one other than the fact we had been told we couldn't have an IVA), and the creditors just need to know that they will be getting a good return.

i know im a worrier:)
hopefully all with chnge over ok, do you have to stay with the company your DMP is with or can you swap IPs for an IVA

You can swap, a DMP is only an informal arrangement.

I believe you are doing it through Melanie? I recommend that you stick with her for your IVA as well. You know where you are then.

no i got switched over to vincent bond so no im not with melanie although i did get in touch with them to sort it they recommended these for my DMP, my first correspondence was with andy davie with vincent bond

Sorry, didn't realise that.

There's nothing to stop you going back to Melanie for an IVA if you wanted to do that.

LD, I'm pretty sure you'll be referred back to Melanie when you can do an IVA. X

thanks everyone

LD

please dont worry about that now, you have enough to cope with, leave it until youre well and trully settled in your new life. Once the DMP is up and running for a few months you can take the breather (or the nervous breakdown) you deserve and need.

Good luck.