www.iva.co.uk

Hi
Firstly i would like to say that i found this site a couple of weeks ago and have been an avid visitor since, i cannot believe how much support is offered from you all to people in despair, it really is quite amazing! I wish i had found it a year ago.
For myself, i have been in a DMP for the last 10 months,having decided that an IVA wasnt for me, i didnt like the rigidity that IVA's offered, although that was before i found this site! I now understand them far better and feel that almost certainly we will be going down that route before long, especially if 2 of my creditors insist on charging interest at the rate they are. I am currently with Payplan and they have been great so far and of course they dont charge, but does anyone know if they charge for IVA's and if so roughly how much? It was partly to do with these fees why i decided against the IVA in the first place as i felt that i wanted all the money to got to my creditors first.
Has anyone successfully finished a DMP without creditors adding interest?

hi and welcome to the forum.. not sure of any answers to your questions re DMP, we are in IVA and opted for this for the security and it be paid in 5 year.. everybody has different ideas. i'm sure somebody will be able to offer some DMP advise

Hi Angela
Thanks for replying, i know what you mean about being paid sooner, my DMP will be for 10 years which is such a long time which is why im considering IVA now. I just have control issues going on in my head.

Hi
Payplan will charge for an IVA,it will be similar to the fees that someone like Melanie will charge.
Remember in an IVA you will pay the same amount each month regardless of the fee charged by your provider as payments are based on your disposible income
Regards

We opted for IVA as the stress of DMP would do me no good. I would be a wreck in a couple of months. I like the fact that it is legally binding for all concerned even us! I like that it also pays as much as we can to the creditors and I am hoping it will be approved - not yet put any proposals forward Melanie is drafting them for us so I know if they are not approved there will be a reasonable solution for us.

Good luck. XX

You should only really be concerned about the fees payable to an IP in an IVA if you are going to repay your debts in full over a five year period - and if you are then an IVA probably isn't the right solution for you in the first place! IP fees are largely standardised across the industry now, and are completely dictated by creditors rather than the IP firm themselves. At least an IVA will bring you certainty of and end point and the knowledge that interest has to cease from the date of the creditors meeting.

I have always been of the mind that it is well worth paying a professsional to help you when you are out of your depths ... I think that IPs are worth every penny of their fees. It would be a minefield without them.

Debbie

I agree with Debbie..............just wish i was an IP [:D]

[:D]
Mrs Skint

Mind you the amount of hours Melanie works do you REALLY want to be an IP? X

All them hours wouldnt so for me. Melanie is so dedicated and caring.

I get enough satisfaction just posting on here to people that join the forum in the same state i was when i joined.

I think if i can make as much of a difference to just one person as i got from everybody on here when i joined then its all worthwhile.

Well I can vouch for the fact that you have [:D]

[:I] thank you [:I]

xx Lisa xx