Not so sure about iva now thinking a dmp would be the best option in a dmp do you have to do yearly reviews etc I am aware this could be a longer process but the whole iva scares me plus hubbie has been offered a job with the prison. service which is an excellent job for future prospects etc but does mean a slight drop in money which will only give us about £100 to pay towards iva a month x
I was in a DMP for 18 months prior to doing my IVA and our creditors used to ring up every six months to check that nothing had changed but other than that, nothing.
There are a few prison officers who are in IVA's but £100 per month is probably a little too low for an IVA.
Have you actually spoken to anyone?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Yes already started the ball rolling and paperwork is with ip just really scared if something gies wrong in an iva what will happen to our house and if we are forced to go br he will lose his job as a prison officer !
We could prob afford £150 a month for the first year. As fuel will go down due to the job being closer to home and next year one of our cars is paid off so that would mean we could pay £300 a month I'm so torn do we get it over with in 5/6 years or take the long road of dmp but not risk our home
Any advise would be great
If you can afford the £150 then great, but don't leave yourself struggling just to make things worse.
You could carry on paying the DMP until you get the extra cash available.
However, be guided by your prospective IP - if they think this is achievable then go for it.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
When I was in DMP I only had annual reviews. I can only speak for myself, but you need to balance how long you'd be in a DMP,against the 5 years of an IVA, although I know it isn't an ideal solution for everyone because of house ownership/jobs etc. But I really do understand that you are nervous about the IVA, the legalities of it freaked me out for a long while, which is why I didn't do it earlier. Take Care xx
Last edited by Skeef143 on Fri Aug 26, 2011 9:52 am, edited 1 time in total.
Final payment 1st April 2016.
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