DMP vs IVA

kirks21

thanks again all for your advice yesterday

th CCCS remedy is stating that a DMP is my best option, although its says that i would need to be paying £526 a month and this would clear my debt in 3 years one month.

will try and telephone them today, but am still waiting for my current DM company to give me the exact amount i still owe to my creditors

RAS

hi

You do need to make sure that your SOA includes all your expenses and that you make reasonable allowances for them.
if you post it up here, we can tell you if there are things you have omitted or have not set at the right level.

You also need to find your agreement with the DM company or ask them directly how much they are charging you each month.

And did they explain that an IVA costs £5000 or more to set up, so that your creditors would see nothing for the first year or more?

And that the only route out of an IVA is bankruptcy? Whilst the amount on a DMP can be varied if your circumstances change?

RAS

How goes?

Do you knwo yet what you are being charged?