will I still be able to keep my bank accounts?

[Skippy]

If I can help in any way I will.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[Emily]

Sorry Laura.W, SP13 is right. I will del the other post.

[pbeck]

Emily

Yes, I think you can be missold a DMP if it takes you 22 years to clear the debt.

The DMP company must be paid somehow, even if by the creditors. Creditors like DMPs because it doesn't involve debt write off, and keeps the debt alive, they're not so keen on IVAs as these are limited to 5 years and can involve a write off up to 75% for the creditor, the only thing that makes them vote in favour of IVAs is the threat they'll get diddly squat in bankruptcy.

Philip Beck - www.freeivaadvice.co.uk

Licensed Insolvency Practitioner and IVA specialist

[MelanieGiles]

You can't be mis-sold something if the person who advised you simply explained the options available to you, and you then made a reasoned choice as to which route to take. Sadly there are many in my profession, and the debt industry as a whole, who seem to merely offer one-solution based advice.

A DMP which takes 22 years to repay is crazy, and is quite probably going to fail within its first two years - because statistically that is when most DMPs fail.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[laura.w]

Hello. I had my review which was not at all as bad as I thought, I had ideas they would cancel the DMP as I couldnt afford to pay as much as previous months. I am now paying £124pm. I definitely think that Bankruptcy is something I should investigate and am going to look for 'Guides to Bankruptcy'.

[Adam Davies]

Hi
Have a read of both Scaredkez's blog and Skippy13's,this will give you a good idea of what to expect

Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp