www.iva.co.uk

I have begun a debt management plan (DMP) but might want to review whether this is the right option for me in say 6 months. Is it possible to switch from a DMP to an IVA later down the road?

Hi yvette and welcome to the forum

It is entirely possible to revert from a DMP to an IVA, but can I ask why you feel a DMP is a better option? Also can you confirm how much you are paying into the DMP and how much you owe in total to your creditors please.

Hello Yvette,

One the advantages of a DMP is the flexibility that it offers.

Many people use DMP's on a temporary basis in the expectation that other debt solutions (such as IVA's or remortgaging) will become viable in the future.

The answers to the questions that Melanie has asked will be really useful in assessing whether you would be better served by an IVA.