Welcome. The bottom line is that you should not switch to an IVA unless you are absolutely sure that you can maintain the payments. Having said that, no-one can be 100% certain in life. If you do go into an IVA and subsequently your circumstances change and it fails, then you always have the option to go back into a Debt Management Plan. After all, you will still owe your debt. The bottom line is that you either have the choice of Debt management or Bankruptcy. Your creditors would definitly prefer DMP payments than potentially getting nothing with the bankruptcy option.