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Being in debt and in a plan such as a Debt Management Plan (DMP) or an Individual Voluntary Arrangement (IVA) can mean that many will have to change the way in which they spend and make cut backs. Many of these cut backs will come from areas of your budget which may be deemed as a luxury or non-essential.

Holidays are seen as a luxury to your creditors who will want to see that you are paying all that you can into your plan. For this reason we are unable to allow an expense in your budget to save for a holiday.

With this being said, people in a plan with us do still go on holiday.

If you want to look at the possibility of going on holiday whilst in a plan then you could consider one of the following:

*Collect vouchers from newspapers, magazines or the internet that offer discounts or cheap holidays to bring the cost down.

*book self-catering holidays

*set yourself a daily spend limit so that you do not live beyond your means whilst on holiday

Remember it is extremely important that you maintain payments into your plan at all times. Failure to do so could result in your creditors rejecting your repayment plan for a DMP or can lead to the failure of your IVA.