We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Can't decide - DMP or IVA???
Comments
-
The other thing to note about an IVA is that if you have any equity in your house, not now but later, you have to realease this in year 3 or 4 of the IVA. If you go for the DMP, you do not have to release the equity.
Please get proper advice from Payplan or CCCS before you decide.If you've have not made a mistake, you've made nothing0 -
one thing to point out with a dmp is that theres no garrentee that your creditors will except the payments and also they may not except them for ever, although i have been on a dmp for 2yrs and others longer than that i should think. but at my current payment it will take about 9yrs to pay off so they could turn nasty at any time.
with an iva once its setup they cant go back on it unless you stop making payments, ive also herd theres a way to avoid having to realease your equity..that said im not sure i would want to go down that road though unless it was a last resort...0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards