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Urgent advice required on IVA vs DMP - IVA suggested by Payplan but I believe DRP better
Hi, Newbie here , and want to say how grateful I am for finding this forum and advice. Apologies for the long post, but I feel a full picture always helps and time is short as I have a call tomorrow to discuss this. I am looking for advice on IVA vs DMP. I had a call with pay plan re. credit card debt which has spiralled…
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IVA - my story
Around three years ago, after experiencing some financial difficulties, I applied for an IVA. At the time, my debts totalled around £6,500. My monthly payments are £385. After three years, I had already repaid almost £7,000 to my IVA. I asked my IVA company - around 7 days ago - how much is left to pay. They replied: It…
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DRO pre application worry.
Hi, step change have recommended a DRO for 45k of mainly Ccard debt. i have an overdraft in a joint account, what should I do about this. How are mobile and device (in contract) handled, step change left it in my budget.? Also this is the first month my Ccards have come off 0% and I’ve never missed a payment (switching and…
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defaults and active IVA...
In an active IVA, is it normal for the creditor to still report defaults monthly and also should they still be showing as open accounts on a credit file?
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DRO with Nationwide Basic Flex account
Hi currently I am with NatWest silver account, solely my account with a £250 overdraft that I can use. I like my bank but have had issues. Basically because of my disabilities I cannot work. So, I have debts with credit cards, shopping catalogues, a small loan. I have only just stopped paying these companies, because I was…
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Acknowledging DRO
Hi i am having some difficulty getting some companies to acknowledge my DRO which was issued 7th October. Sky won’t acknowledge it, British Gas have only added my gas account, Klarna and capital one. I’ve also noticed I have recent defaults and missed payments still recorded. ive spent hours trying to get someone to speak…
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IVA for Twelve (12) YEARS????
Hi Everyone! I'm at a loss, you guys are my final hope. Is it normal/legal/ethical/OKAY to be trapped in an IVA for 12 years? Yes it is still on the register, but when I emailed the @insolvency email address no one could find it. The practitioner and the practitioner's business has also been out of sufficient communication…
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Credit Fix and Closure Certificate
so i finished my IVA with Credit fix in April 2024! i have tried to call them countless times about a Closure Certificate and just keep saying it can take up to 6 months! my issue is its been nearly 2 YEARS! and each time i call then don't understand and just say they will escalate this. i feel like each time i call they…
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Failed IVA from 2002 recently contacted by DCA chasing payment
Afternoon, Newbie here, am after some advice. I recently started receiving calls from a DCA, after a few attempts to ignore them I contacted them to enquire as to the nature of their repeated attempts to contact me. After (possibly stupidly) confirming my name and contact details so i could find out why, they informed me…
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IVA and ill health
Hello, I got myself into 22k of debt in the last couple of years, and I was paying it off successfully with a DMP through StepChange. However, I have a long term illness which means I had to recently reduce my hours. I applied for a DRO with Money Wellness, but they suggested an IVA, which I am now on. I am due to give up…
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Naively have landed myself in a pickle in relation to my IVA
13 months ago I was struggling to maintain payments whilst in a DMP and like many others was led into an IVA which in hindsight seems like a misjudgment. It was sold to me as if it was the cure to all my problems but of course things are never that simple. I moved back home in May due to declining mental health and have…
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default on my file from an account included in wife's IVA
Evening all, we had a joint bank account with Halifax and in September 2024 my wife started an IVA which included the Halifax account. On my own report I have a default registered against this Halifax account dated 19/11/24. I have 2 questions: 1. I understand that the account was joint, is it correct there's a default…
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default confusion after IVA completed
I finished my IVA in September by way of full and final settlement and I'm trying to clean up my report. Looking The screenshots attached, I see 3 closed accounts have been updated with "default satisfied" dates however I also see default dates showing September 2025 which is absolutely incorrect! they haven't registered…
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Miss sold iva
Hi everyone I entered into an iva about 4 years ago. I had my own business (butchers shop) from 2001 and for sixteen years it give me a reasonable living. But in 2018 the local bank and post office closed and my shop rapidly went down hill. I soon found my self struggling financially and mentally. Long story short I was…
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DRO credit file clean up after discharge.
Hello, My DRO ended in July and all my creditors have marked my credit file as settled and the balance is showing as zero apart from one. PayPal credit are refusing to mark the file as settled and change the balance to zero. They’re reporting the balance each month to my credit files. PayPal was included in my DRO but it’s…
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Current Iva payment problems due to change of circumstances
Hi I currently have an Iva, I’m two and a half years in. Six months ago my personal circumstances changed from married to separated. I am now living in a rented flat. I work 32 hours a week and am 60 years old. I carried on paying the same payment to my Iva after my separation and when I emailed to tell them of my…
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Credit Report post IVA
Hi Everyone, I completed my IVA at the start of the year and have been trying to clean up my credit file. I’ve hit a wall with Creation Finance/LaSer (Currys). They’re refusing to mark my account as defaulted at the start of the IVA. Instead, they’ve been reporting missed payments ever since I entered the arrangement. My…
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Removing defaults added once IVA was completed
I completed an IVA in September via full and final settlement and in the same month the credit accounts have all been updated with defaults on the same month! so this will damage my score even more now, is this normal? I can imagine that once an IVA is completed the credit reference agencies need time to adjust everything…
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Completion certificate timescale
Good morning, I made my full and final IVA payment back in early July, and I’m still waiting for my completion certificate to come through. I have contacted my IVA company, Creditfix, several times to chase it up and been told that they are still waiting for creditors to make their claim and final reports still have to be…
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Newbie here I’ve
I have an Iva and just started my last year(ends September 26) I have recently had a letter from HMRC saying I have a refund for Tax Credits from 2016/2017,it will be paid to me in the next 20 days. My Iva started in 2021( I’m with Payplan). Do I have to give it to them,it’s around £3000.i phoned them but they don’t know…
