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getting a Basic Bank Account with low credit score
I have managed to get myself into a financial mess due to a combination of house moves, child illnesses and lack of postal deliveries. I have to admit I am not the greatest with my finances but am now trying to sort myself out. I work full time and have a wife and three young children. I did have a bank account with…
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DRO and change of circumstances
Hi, I am sorry, I have searched the forum and I found one post that doesn't fully confirm my question. I hope somebody can help me to understand the statue of limitations. I was accepted for a DRO in November last year and I have been offered a promotion. If I take this job offer, I could be earning more and my DRO will be…
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DRO Accounts still open
Hi all, My DRO was approved in July 2021 and I was discharged in July 2022. Majority of the accounts are still showing as ‘active’ and ‘open’ on my credit files. I know they will show for 6 years but i thought they would show as closed or settled? I am trying to build my credit after the DRO but I am struggling to be…
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Panorama programme on IVAs today 8pm BBC1
As the cost of living crisis deepens, figures suggest almost 13 million people in the UK are falling behind on their bills and struggling with their debts. Panorama investigates the booming debt management industry and the companies signing up people for Individual Voluntary Arrangements. IVAs allow clients to pay off…
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Debt Payment Plan
I am currently in a payment plan (not an IVA or DRO, I don’t think) and I’m making regular monthly payments. I have recently become a director of a small limited company and want to know whether my personal debt could impact being able to open a company business account although I am not the owner and not a shareholder?
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IVA company not taken payment
My husband has been part of an IVA arrangement, set up by Hanover Insolvency since 2020. He recently had his annual review in March, and they have always taken the agreed payment on the 1st or 2nd of each month. This month they haven't taken a payment, he has tried e-mailing and ringing the number listed on the website…
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Equity Release IVA
I'm into a sixth year of my IVA The sixth year was written in from the start and it cannot be extended due to a lack of equity release (I have this in writing) But with nine months left the IP have asked me to attempt a remortgage? Firstly, is this not too late to do this? Secondly am In obligated to use their provider?…
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IVA early settlement with mortgage
I was wondering if someone on here has successfully settled an IVA early with property with over 5k equity?. I have been accepted a Sprout loan for £8000 in May, by the time the variation meeting has concluded early next month, I will also have paid an additional £700 since putting the offer over. I have seeked to obtain a…
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IVA Variation
IVA variation approved at meeting of creditors, now in dispute by one of the creditors, can they recind the agreement?
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Paying off an IVA
Hi I am new here and somewhat distress to be honest! I have an IVA (I am 30 months into a 60 month plan) I have been paying £172 all this time and now after my review they want me to pay £555 per month. I cannot afford this - it seems to be based on my partners income. Which isn’t going down well at home as you can…
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Mis-sold an IVA
I got with my ex 3 years ago. And till about 1 year into the relationship, more till I met him my life was the best it’s ever been. Happy. On top of my bills and had money to live a good life. I only took out credit cards because I was o Wessex with having a hood or perfect score but not having a credit card meant it…
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Payplan being vague
Hi. Finally tackling my debt situation so I called Payplan at the weekend. I went through my debts , income and expenditure with them. Some of the figures seem generous in my favour and looking at figures they have sent I’m sure that some figures have been duplicated on my expenditure. Seems odd . Due to my over 60k debt ,…
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DRO - is this a preferential payment? + other questions.
So I'm in a situation where it looks to me like a DRO is my most sensible course of action. I'm self-employed sole trader and I have a Bounce Back Loan (£19k), 2 credit cards (£3k and £2k) and an overdraft (£1k). I have less than £2k in assets (how is this verified btw do they do a home visit to check how nice your TV is..…
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Stepchange have suggested a IVA?
Hello, I have posted previously about DRO's, I was in contact with Stepchange back in January and they recommended a DRO, I (stupidly!!) stopped the process when I found it difficult to get all of the info about my debts and had a bereavement at the same time. I contacted them again today in the hope of starting the…
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Completed IVA
I completed my IVA last August got the completion certificate however today I got a text and email saying I need to complete an annual review is this normal
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IVA help!
Hi, I need some advice please 🙏 I'm around half way through my current IVA and have a problem. Firstly I'm completely up to date with all my payments and haven't missed any at all. As part of my IVA they have requested recent payslips and p60s which I sent over . Since 2020 my income has increased but not by much. So they…
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Lost IVA letter of completion
Full and final IVA 15 years ago. Sold our house and solicitor has informed us there is a charge on our deeds from the iva company we used. We have lost our letter of completion and company we dealt with have gone through. How can I get a copy of the letter to send to land registry to get charge remove?
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Pay increase help!
So I have had a pay increase which I obviously need to inform my IVA about. It is about £70 a month. That being said, I have experienced pay rises like everyone else with council tax, phone bill, car insurance etc. will they just expect me to pay the extra or will the extra amounts be considered too? I could really do with…
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Debt Relief Order and O2
Hi - currently having a nightmare getting consistent advice from O2. If anyone can help, that would be really appreciated. I am now in a Debt Relief Order (DRO) and the handset loan part of my contract has been included in the DRO. I am up to date with payments and have never missed a payment to O2. I have heard that O2…
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DRO Next Step
Hi all, I'm a big worrier! I have had my interview with Wellness today, gone through my debts, answered their questions about bank statement entries etc. She accepted everything and another appointment has been booked for tomorrow. Does anyone know what this would be for? Would it be just to pay the fee?