www.iva.co.uk

I have decided in the short term to try to negotiate a DMP before going into a full IVA. hopefuuly to give me some briefing space and show creditors that Im not doing this on a whim. (also I have been told by my employer if I enter an IVA before my probation period ends I will face an internal misconduct tribunal ! I have another 6 months to go until my appointment is confirmed at which point it would be much harder for them to chuck me out and they will not check my credit history again!

Anybody out there with any experience of DMP's? How often to creditors go for CCJ? I have also been told that I face the above misconduct hearing if I have any CCJ'S registered in this time

Hi Anais,

I was in DMP for 18 months before I went down the IVA route. We let a firm sort it out for us and we had no problems at all with any of our creditors. We never had any CCJ's at all, nor any threat of any.

The firm we used charged a fee, but others, such as Payplan are free so all of your money goes towards your creditors.

One of the experts will probably advise you more, but I hope this helps.

Hi Anais,
We too were in a DMP for about 18months prior to our IVA. Like Kallis, we had a company do it all for us - they sorted out the payment plan, and anytime we had any letters, we just had to send to them, and they would sort out.
However a couple of our creditors did try it on a few times, and we ended up with some court threats - the reason we eneded up going down the IVA route, was becuase a couple stopped freezing the interest and were threatening us.
That said though, that was our situation - each one as you know is different.
Good luck.
k.

We never had any court threats, but, as you say, we sent all letters off to the company.

The only problems we had was with late payment sometimes (them, not us!) but we just explained that we had sent our payments off and they would be receiving them whenever the DMP company sent them off.

No other problems though