DMP or IVA?

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ian439
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by ian439 » Mon Jan 21, 2019 7:32 am
Should I take a debt management plan or an IVA?
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Foggy
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by Foggy » Mon Jan 21, 2019 7:53 am
It is impossible to say without looking at your full circumstances -- a chat with a few providers will give you a better idea. A lot depends on the amount you owe and the amount you can afford to pay. In an IVA you are time limited, interest is frozen and anything unpaid at the end is written off -- they typically last 5 or 6 years. In a DMP you might still pay interest and you pay until the debt is settled in full --- which can take a lot longer than 6 years.
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Lisa Thomas
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by Lisa Thomas » Mon Jan 21, 2019 10:11 am
It really depends on your circumstances. We need much more information to advise.

My short videos here explain the differences between the procedures:

options:

https://youtu.be/TgalT1vhn6M

DMP:

https://youtu.be/8mZ17eJeFlQ

IVA:

https://youtu.be/zrQruCDiw5w
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