You might, but it would not necessarily be the correct solution. At £250 a month it would take around 2 years to pay off that debt in a DMP, assuming interest was frozen and you were with a no fee provider like StepChange. In an IVA, allowing for fees, it would take around twice that. Depending on the accuracy of your figures, you might even be looking at a DRO, which would be a year with no payments required from you.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I don't think you would with those figures. The larger IVA firms wouldn't do it because they know creditors wouldn't accept it because, as Foggy has said, you don't need one.
