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IVA or DMP
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I meant as bad as in terms of credit rating / long term effects.
I don't think bankruptcy is that intrusive really from what I've read, but yes perhaps more involved than an iva.
I agree a lot of issues with ivas are to do with misselling, but I still think they are a rather blunt instrument and it's quite difficult for someone to commit to making a set payment for 5 or so years, with the risk that if it fails they're back to square one ( or worse with the added fees).
I'm really not a fan of ivas but they do work for some people. At the end of the day the OP has to read and research as much as possible as to what's the best for their situation.
Df
P.s I've not really heard anything good about ivas. Sourcrares you're probably the only person I've heard champion them. I don't know whether this is due to the misspelling aspect and people being desperate and jumping in without fully understanding or whether it's because people only come on here when they've got a problem and that there are people out there that have happily completed an iva with no problems?Making my money go further with MSE :j
How much can I save in 2012 challenge
75/1200 :eek:0 -
All I can say is mine ran like clockwork, maybe I was just lucky, or as you suggest, we only hear about the ones that went wrong !!!I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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Thank you everyone. I think we need to ask more questions and then decide, thanks again.0
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