What is the difference between a debt management plan and an IVA?

Asked by stevensonbecca59

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Answered by Arthur Wang
You can read more about debt management plans (DMP) and individual voluntary agreements (IVA) on the site.

A debt management specialist can "negotiate with your creditors and put together a repayment plan for your debt" - http://www.simplyfinance.co.uk/debt/debt-management.html

While an IVA "is a legally binding alternative to bankruptcy...available to residents of England and Wales...the minimum debt amount accepted of £15,000" - http://www.simplyfinance.co.uk/debt/iva.html | 11.03.10 @ 23:23
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$commenter.renderDisplayableName() — {comment} | 08.17.17 @ 03:56
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Arthur Wang

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