www.iva.co.uk

I am currently looking into an IVA and I have been advised by a debt management company to sign up to a debt management plan first as they will then put it forward for a IVA however if the IVA is not accepted I will then be signed onto a debt management plan which I do not want, please can someone advise if this is correct or can I go straight onto an IVA without a debt management plan first ??

Welcome to the forum. Yes you can go into an IVA first ....www.iva.com will give you a number of recommended firms to discuss your circumstances. It is advisable that you contact two or three before deciding on which one you want to represent you.

Hi money1968, yes you can agree with above post, just wanted to say hello and welcome.

Hi money. The two things are mutually exclusive. The provider should have made this clear in explanation of your options. We never signed up for a contingency when submitting for an IVA - it hardly inspires confidence if it`s your preferred route.
I would say it`s a case of "crossing that bridge when we come to it" scenario, and I`m a bit surprised with the request.

Hi

There is no need to first go into a DMP in order to then switch to an IVA so do look at other companies. However there are circumstances where a short term DMP followed by an IVA is the right advice, example would be someone looking to move within the next year and is unsure of costs or someone in a temp contract hoping for a permanent contract etc etc

Regards

Hi and welcome to the forum. Using the link above supplied by luluj is a good starting point to find 2 or 3 companies to have a chat to. When you ring, all debt solutions can be discussed and the one that is right for you found. Always worth a chat with more than one just to gain impartial individual advice.

Any other questions we're here and will always try to help or support. x

Thank you to everyone for all of the advise it was very helpful

Which firm is giving you this advice money1968?

was just thinking that mel???

could this be an attempt to keep people paying out for longer than need be?!?!?

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles

Which firm is giving you this advice money1968?

It was moneyexpert.com, I have ceased dealing with them now as I realized it was not good advise once they had sent me the forms to sign their fees over the course of the DMP came to £7,500 and even though they were advising an IVA the documents were for a DMP to start with, it was then going onto an IVA once (if) accepted.
I then realized that if the IVA was not accepted they would have my signature on a DMP that I didnt want.

Worth shopping around for a while until you find someone you're comfie working with as 5 years is a long time x