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!

Cccs Or Payplan......dmp, Iva Or Br

skibadee · 2008-04-20 11:00:17

I currently am in a DMP with Payplan.....May will be the 4th Month....not entirely convinced they were the right company to go with......I know doing DMP does not stop you getting hassle from creditors......Im getting hassle from 1st credit at moment..........I have considered entering a IVA or Banruptcy as under current…

Comments

fermi Posts: 40,542 Forumite

20 April 2008 at 7:05PM

Yep. Most IVA agreements need 3 months worth of missed payments before they will even consider failing the IVA.

TakeittotheLimit. wrote: »

Why do you lose your house if your in an IVA?
I thought the only way you could lose it was if you don`t keep up your payments and your creditors enforce bankrupcy on you.

You won't, although sometimes you may have to remortgage in later years to release equity. Even that depends on the agreement.

Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
0