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Posted by princessjess : October 5th, 2007

DMP

One thing I don't understand about debt management plans is what kind of time length is the average person in a debt management plan? I know that will largely depend on my debt and income, but wanted to know in general if they take longer than an IVA.
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Mostly yes, debt management

Mostly yes, debt management plans do not have a fixed period of time unlike an IVA (5 years), Because DMP's do not freeze or stop interest it will always take longer to repay the debt unlike an IVA in which all interest and charges are stopped as soon as the proposal is agreed by your creditors.
Posted by: DMURRAY