I've just spoken to employee accounts (for anyone that has read my previous post, I work for a financial institution in IT).
They can't advise me what route to take, but in terms of my relationship with them from a banking point of view they have stated the following:
DMP - I can probably keep my cheque account and have SO and DD's
IVA - I have to have my salary paid to them, so they would allow a savings account with one monthly SO to take the money out of the account.
I really don't know what route to take, I felt an IVA was for me because of the fact its a contract - but the impression I get is that my future credit worthiness (mortgage, bank account etc) will be very bad post settling the IVA.I was fearful of a DMP as Ive read about CCJ's, debts being sold on to other company's, etc.
Im still making all my monthly payments a will be able to do so for the near future, but the debt is rising slowly.
I think the fact that I am not worhty for abanking facilites by my employees had made me realise just how bad people are going to view me.
Payplan have assigned me an IP, but I havent progressed down that route yet, so I could still try out a DMP and see whether all my creditors go for it... I have 3 MBNA cards (tesco, mbna, virgin) and I belive these can be really awkward.
I would really appreciate some advice... I'm getting bogged down with so much information..