www.iva.co.uk

If i was to commence in an dmp and some creditors handed the debt to collection companies, ie sold them on, is is still possible to consider a Iva at this point or is it too late.

You can still propose an IVA at this point.

You can choose to go down the IVA route at anytime.

You need to speak to an IP and they will tell you how best to go about things from your perspective.

Only you can make the decision as to which is the right path for you, and whilst we can give advice on here the end decision is yours.

Why would the fact that your debts might be sold affect your decision to continue with the DMP as a matter of interest?

I mean in the debt has been sold from say sainsburys to some small collections firm will they still condiser an iva

All creditors will consider an IVA, doesn't matter who they are.

Id the debts are sold on the company buying them will consider an IVA, and in some cases they are more likely to accept.

Most of ours had been sold on and we had our IVA approved no problem.

if they sell them on for say 10p in the £ and your IVA proposal is for say 25p in the £ then it is a good return for the company that has purchased the debt.

Hi
Good points made above, a debt collection company are probably more likely toaccept an IVA as they will be making a profit on their purchase.#
I some case a short DMP and then going into an IVA is a good route to take, especially if you are waiting for income or expenditure to settle down.

Regards