www.iva.co.uk

Hi,I am confuse which is the best for me IVA or debt management these 5 years a long time and when I calculate how much I need to pay back whit IVA well is not big deference if I go on debt management.Please help I need to make choice ASAP

Hi Sisi78,

I am new to all this but i was just as confused a couple of month ago. Have a read through the forum. My advice would then be sit down with your figures, take a deep breath and call one of the professionals and talk through your circumstances. They are not judgemental at all, patient and from my experience really are there to help you make the right choice for you.

I hope that helps - and good luck

TulaC x

www.iva.com has a list of IVA providers and reviews on each.
Give 2 or 3 a call for some free advice on the best way forward for your individual circumstances.

Good luck

Please take Lisa's advice and you will receive the help you need.

An IVA will ensure that no interest is charged once the arrangment is in place, and will stop creditors from taking legal action against you or changing their minds. It is definately worth seriously considering the benefits of this over an unregulated debt management plan.

Hi
A friend of mine opted for a DMP a few years back. He completed this all and never missed a single payment. He was even saying to me before Christmas that it was a great weight off his mind. Then out the blue, he gets a letter off Barclays stating that he had paid the debt off but they have now decided to charge him interest. Which was originally frozen. He now has another £2K to pay out. Just something to bare in mind!

I think it sometimes depends on what firm you use.

Me and hubby were in a DMP with a firm to whom we paid fees. We had no problems at all, interest was frozen from day one and the only contact we had from creditors was to ask if anything had changed, and that was every six months or so.

The only reason we changed to an IVA was the fact that it would have taken about 20 years to clear our debts.