www.iva.co.uk

currently on a dept managment scheme would i be more suited to go for an iva?

Hi and andaz and welcome to the forum! It would be difficult to say whether an iva is suitable without knowing your personal circumstances. An iva is generally worth investigating if your DMP is set to run longer than five years and/or if your creditors have not stopped interest and charges.

If you can give us a few details, we might be able to help. Ultimately though, it is a personal decision.

Hi andaz35 i was on a DMP for over 8 years and wasnt getting that much forward really had at least another 8 yrs left just cudnt see an end in sight as creditors had started added interest. I carn't speak for you but think its the best thing i ever did, although i have a long road ahead i can see a light at the end. speak to a few different ip's im sure they would be the best people to ask. Good luck with what ever you decide.

Hi and welcome. Both are good debt solutions in their own right. An IVA offers more security in my opinion. Why not talk to 2 or 3 professionals about the possibility of an IVA. www.iva.com is a comparison site that list companies. Always best to talk to 2 or 3 and gain some impartial advice.

Why not have a chat with the providor of your debt management plan about IVA's too. x

It was the legal protection from creditors that swung it for me. I would only have been about six years on a DMP but all I wanted was for the letters to stop and have a confirmed end date to work towards.

I agree with Lesley that you should speak to a few companies via the link she posted above - we were on a DMP which would have taken 19 years to pay off. We're now over four years into our IVA and can see the light at the end of the tunnel.

Hi

Sometimes an IVA is not possible for a number of reasons, equity level, debt level, disposable income level etc etc.

As others have said chat your situation through with a number of companies/experts

Regards