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Hi, I have been on a debt management plan with Chiltern; now called Moneyplus, for the past eight years, paying £70 a month for debts which now stand at £14k. They have been a lifesaver for me, but, to become completely debt free, it will take 26 years; as I'm 60, basically it'll take the rest of my life-or possibly not! I have a house with a small mortgage on it, but with quite a bit of equity in it, which is my prized possession. Should I change to an IVA, as has been suggested, which would seem to see me clear within six years? I've made bad decisions before-hence the debt-and I don't want to make another. Advice, please?
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