Yearly Archives: 2018

Why is your credit rating important? DMP or IVA – which has a worse affect on my credit rating? Can debt be managed with no affect on my credit rating?

Are you allowed to reduce your IVA payments? When is this possible? What is the likely impact? What can you do if your payments cannot be reduced?

Can you stop paying an IVA and go Bankrupt? When is bankruptcy a better option? Will you lose the IVA payments you have already made?

When is it possible to get a mortgage after your IVA? What will the mortgage cost? How much can you borrow? Can you get a mortgage during an IVA?

IVA v DMP – Which is the best debt solution? Which debts can be included? How long do they last? How is your home affected? Which is more flexible?

How is a windfall treated in an IVA? Can you keep any of the windfall? Exceptions where an IVA is settled early. The benefits if you settle your IVA.

Is it possible to move house in an IVA? Moving to a new rented property. Can you sell your house and buy a new one? Could you buy your first home?

What happens if you get a redundancy payment in an IVA. Is it possible settle an IVA early? Could you hide the funds? Using an IVA if facing redundancy

How a Debt Management Plan (DMP) works. Main differences to formal solutions. What situations are best suited with a DMP. How does a DMP effect my home.