Advised to go for a DMP - would I be better with an IVA?

dafadau

Have done another budget that I think is all I'd be allowed from collecting various advice - payments are close to £600 and I think that this means a DMP may be more suitable

Total monthly income 2566

Monthly Expense Details
Rent 1200
Council tax 128
Electricity 45
Gas 45
Water rates 35
Telephone (land line) 9
Mobile phone 20
TV Licence 11.88
Satellite/Cable TV 0
Internet Services 20
Groceries etc 210
Clothing 20
Petrol/diesel 0
meals at work 30
Car parking 0
Other travel 160
Medical (prescriptions, dentist etc) 7
Contents insurance 9
Other insurance 0
Presents (birthday, christmas etc) 0
Haircuts 7 Entertainment 0
Holiday 0
Emergency fund 10
Gym 0

Total monthly expenses 1966.88



Payment 599.12

Max_1066

Going back to switching banks you need to choose a bank where you don't have any debt ..... and that means the bank group as a whole. Its not happening so much now however banks were changing hands like crazy a year ago so I had to change accounts twice.

Halifax have a very easy online application process although it depends where your debts are.