Repayment Comparison - £140,000
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If you have debts totalling approximately £140,000 these are your main options in dealing with the debt:
| Options | Total Cost (approx) | Period | Monthly repayment (approx) |
| Typical Consolidation Loan* | £166,726 | 60 months | £2,778 |
| Debt Management Plan (DMP)** | £140,000 | 152 months | £922 |
| IVA (5 years) | £55,296 | 60 months | £922 |
| IVA (Lump Sum) | £52,796 | 12 months | n/a – assumes lump sum |
* The figures quoted for the consolidation loan are based on APR of 7.1%. The total cost does not include any completion fee or arrangement fee. ** Figures assume that the DMP is administered by a 'not for profit' organisation and that all creditors agree to freeze all charges and interest for the duration of the arrangement.
