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IVA & DRO

Archives for January 2009

iva advice please
hi all!! my mum and dad got an iva last september. there agreed monthly installment is £270 a month for 5 years then £270 a month for the final year to the company Grant thorton for the fee. My dad is due to retire on 30 april. he is getting around £15000 but he wants to clear his secured loan which is £361 per month. he…
Equity release - 4th year
Hi, I've been on this site before and requested info. re: negative equity but have recently found out that there may be 'some' equity in the house. My husband needs to release £22,500 in year 4 (next Aug.). Current mort =£164,000. House has been valued at £185,000. Our joint earnings would meet the £185 BUT obvioulsy we…
Debt from before marriage
Hiya, If I go for IVA will my husbands assets come into it? My debts are from prior to us marrying. Also, is it true there must be more than 3 creditors? If so, will the fact that I have a loan and credit card debt with one provider classed as one or two? Thanks Rachael :confused:
Please someone advise if IVA is best for us
I am new to this website and hope there is someone here with the time and experience to advise me. We have a small business (not limited just me and the wife trading as...) that was doing well until the credit crunch started to kick in and since May 08 our sales have gone down and down. It is now at the stage that the wife…
Debt Relief Order
I made a post on Sunday mentioning the irony of the fact that I'd just gone BR and was about to go through the process again in assisting a friend who has psychiatric problems. I requested the post be deleted as I believed it might be miscontrued and I didn't really want to go into his problems. Anyways, last november, he…
Personal IVA - Joint current account
Hi, I'm planning on applying for an IVA once I manage to get a new job - I was made redundant back in November. My debt is all personal debt, unsecured loans, credit cards etc adding upto an embarassing £60k. My question is regarding a joint current account that I have with my wife, which has an overdraft facility of…
Debts what the best road to go down NEED HELP
This is my first posting after reading through as much as i possibly can. Need a bit of advice as getting confused. Firstly. We owe approx 58,000 in debts Owe 48,000 on own mortgage valued at 80,000 may have gone down now We pay our debts through payplan at the moment Have three debts linked to land registry and countless…
Insolvencey Practitioners (The Untouchables)
Just a few questions to ask to help me relieve the pain of being mis-led and ripped of . Lets see if anyone can come up With answers that don’t start with ………First of all you should contact your supervisor……….. 1. What is the difference between a). A Voluntary Arrangement b). An Individual Voluntary Arrangement? 2. Why…
IVA, and its effect on my house
Can anyone tell me if an IVA will mean i have to include my home in the IVA
Credit after an IVA
Hi please can anyone advise who has completed an IVA what happened after 6years is your credit file clean? I am going to enter into one but dont want to be stuck with the same mortgage comapany forever would I be in a position to apply to other lenders. Is there any trace of iva on the file i.e does it leave a footprint or…
Introuble
Can anyone give me some info on what its like to do an IVA?..........:confused:
IVA Completion & reclaiming credit card charges
Hi, I wondered if anyone could offer any advice on my situation: Over the last few months ive been in the process of claiming back credit card charges from Capital One. In June 05 i entered an IVA, which completed on 16/10/08 by way of an early settlement. On 30/10/08 Capital One offered me a full refund of charges and…
Land Registry
Not sure if I've got this right but it looks like a part of the contract of the IVA is for us to sign to agree for a charge to be put against the house on the land registry. (that fair enough I guess) - but told by CCCS today that a copy of the IVA (and everyone we owe money to) is also registered. Did I get confused with…
IVA to bankruptcy not sure if we can??
We had a phone call just before christmas from a guy from a insolvency company called uk restart, who has since tried hard to talk to us about our iva as he thinks we are in a position to go bankrupt....mentioning miss-selling etc We're with dept free direct which as a lot of you know isnt very good but at the time we…
What`s next?
I`m in need of help and advice. My 25 yr old still living at home took out loans when 18 ended up doing IVA paid for about 2yrs then lost job. Had a few letters but has heard nothing from any of companies since. Now wants to start own business. What`s the next thing to do?
Coming to the end of the IVA
We are finally coming to the end of our IVA after paying for 5 years and releasing equity from our home with a silly rate interest only mortgage to 75% of the value of the property. Does anyone know if this is likely to improve our situation? Our IVA is/was with Debt Free Direct and I feel that they are a little bit of a…
IVA and temporary contracts
Hi guys I was in the process of setting up an IVA but to double check this was the right option for me I called National Debt Line today. National Debt Line informed me that I cannot get an IVA due to the fact that I am only a temporary contract with work which finishes in July this year. When I mentioned this to my IVA…
IVA when in Business
Hi I have a shop, which is leased and a number of suppliers who I am paying for stock. I have just been informed that if I go on an IVA then all my creditors (including suppliers) will need to be informed - this may affect my business so not an option I want to take. DOes anyone know that if I go on a DPA, do my suppliers…
Please help - IVA review
Hi there I am hoping someone can help! we are due a IVA review soon and since we got the IVA our incomes have increased, I really don't want to have to pay in the extra as we are just about "making ends meet". Can someone post a list of all the I&E they look at and give me the maximum amounts I should claim, such as pets,…
I have an IVA but want to move in with OH whose only income is benefits...
As the rather long title suggests... I'm currently living with my parents in their house, which is paid for. I have an IVA for about £30,000. In March I will be entering into my 3rd year of the 5 years. I want to move in with my OH, whose only income is benefits (INCAP £102pw and DLA £250pcm) Should I contact my IVA…

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