Why didnt they offer an IVA

funkyfish586

Hi all, we have been in a dmp for a year & we are still struggling on it we had £38k now down to 34k. the dmp has been estimated at 10 more years we are paying £320 a month & i just cant face this for another 10 years

Do we not qualify for an IVA? x

RAS

Who are you with?

funkyfish586

RAS wrote: »

Who are you with?

sorry that would help:o payplan x

Tixy

Hi FF

Worth speaking to Payplan (?) to ask them why they felt a DMP wasn't not be right for you. Also have a read of the guide here - IVAs are they worth it?: to see if you feel an IVA might be suitable for you.

It can often be if a person's income isn't secure or it might be because they felt it wouldn't be accepted by the creditors (because you wouldn't end up paying a high enough percentage back).

You could still speak to them about it at this stage, or even speak to one of the charities for their advice about whether it would be suitable for you.

Payplan_company_representative

Hi funkyfish586,

If you would like to look into an IVA contact your case officer and they will be happy to go through all of the details with you to make sure that it is something that you can look at. We do always offer this at the very beginning if it is an option, but it is always worth asking as things may have changed.

Thanks
Lizzy.