DRO IVA question

Mrhuk

Hi again,

I am rethinking my situation, although I am going to see CAB I was wondering with DRO and IVA's can you choose certain debts to include, for example I have a credit union loan and if I am able to lower my weekly repayments then a DRO or IVA will definitely be better?

Thanks

Mrhuk

Sorry I mean DMP not DRO

Craig1981

insolvency will include ALL debts; you cannot pick and chose which ones you want to include or not, regardless if it is DRO, IVA or bankruptcy

same with a DMP - if you wish to exclude a debt, your other creditors my reject your proposals as you will be favouring one over the other

fatbelly

There's a big difference between a DMP and an IVA - and many people considering an IVA should really be considering DRO or Bankruptcy.

Maybe post again when you have spoken to CAB, or do a statement of affairs and post it here.

http://www.stoozing.com/calculator/soa.php