IVA or Debt Management plan?? Help!!

jmolby69

Hi Guys,

Ive finally sorted in my head that i need help!! Ive managed to amass £16k of debt over a loan & 2 x credit cards, and am struggling!!

My wife has about £4k's worth of debt which she has on a debt management plan.

I dont no wether to set myself up on a debt management plan so that it is separate to my wife's details, or wether we should pool our debt and go with an IVA.

Ive spoken with payplan and have been given figures etc for my debt management plan, but havent given them the go ahead yet!

Im not sure which is the best route to go down! My wife is aware of all our debts etc, so im not trying to arrange it all behind her back! Just could do with some advice on which route to persue...

can anyone shine a light for me??

Many thanks

Simon

yellowmonkey

Well done on posting. Glad to see you have spoken with someone already. Post a SOA and the more wise will be along to advise.

Forgive me if i am wrong but if you are on a DMP an IVA is still an option however being on an IVA you cannot revert to a DMP. Take time to think things over and more advice will be along

good luck whatever road you chose

ym

jmolby69

thank you, what is an SOA? and how do i post one? lol!

yellowmonkey

Sorry . Statement of affairs. Click on the link below and all should be clear.

http://forums.moneysavingexpert.com/showthread.html?t=107280

ym