As Andy says it may well be but you would need to discuss your situation in full with a professional to understand if it is a better option for you.
It is best to give a couple of Insolvency companies a call for a free advice chat - you will see recommendations on here from other forum posters and you could also try visiting www.iva.com to have a look at the reviews about the companies mentioned.
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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If your DMP is going to take more than five years to pay creditors in full, an IVA may well be a better solution for you - why not ask if you can speak to the CCCS IP to see if she feels an IVA would be sensible for you, or alternative take advice from another insolvency practitioner.