with a dmp do the creditors get payed monthly

[pnn]

with a dmp do the creditors get payed monthly or in one lump sum . just wondering as were are at present on a dmp and hopfully getting a iva soon.
so im wondering if for the last 3months if the monthly payment we make go straight to creditors or is it the same as a iva when the get payed at the end of 5 yrs
thanks

[scaredkez]

i have a dmp with myvesta, what i pay them each month gets apportioned to the creditors on a monthly basis.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[neverending]

Hi
In an IVA your creditors will normally get paid at the end of each year starting from the end of year two.It will depend on your IP but they will almost certainly not have to wait until the end of the IVA.

[freelili]

hello paul

just wondering, why did you not go straight into an IVA? was this what the company suggested to you? I am asking because I am concerned that you might not be getting the best advice. I cannot see why you should pay money over on a DMP when you could be starting your 5 year count down, or is there a good reason for this?

LILY

I asked God for a solution and have to live with his reply.