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IVA & DRO

Archives for April 2009

Car on HP and IVA
Hi All, Hope you can help, I'm about to embark on an IVA and have a car worth £14k with £18.5k o/s. I don't want or need the car anymore and the monthly payment is £400.00 Can I just give it back? Will the shortfall be included in my IVA?
Dro
Has anyone actually got a DRO yet?
Pre-DRO discounts offered by DCAs
Not sure if anyone else has noticed a rather interesting side effect of the recently introduced DRO, namely DCAs (Debt Vultures) are starting to offer discounts on debts owed. In the last week two debt collectors have phoned me, both offering a 50% discount on monies owed. So, even if you either don’t quality or don’t wish…
Pre-DRO discounts offered by DCAs
Not sure if anyone else has noticed a rather interesting side effect of the recently introduced DRO, namely DCAs (Debt Vultures) are starting to offer discounts on debts owed. In the last week two debt collectors have phoned me, both offering a 50% discount on monies owed. So, even if you either don’t quality or don’t wish…
Don't mean to be flippant but what's the point / benefit of IVA
Clause to the above ;) If the following apply to an individual (see below bullet points) can anyone give me a good arguement / case in favour of IVA over Bankruptcy --> Total combined unsecured / non-priority debt of £32,000 and not being able to meet minimum repayments taking into account reasonable living expenses as…
First steps
Hi there, I have just come off the phone to the CCCS and they have suggested a IVA. We owe £82,000. I have a couple of questions. The nice lady on the phone told me that I need a basic bank account. Can anyone recommend a bank that would offer an account specifically for doing IVA's or do all banks allow you to open an…
Maternity payment break & new partner earnings
Hi all I have a couple of questions I hope you can help me with. Firstly I am due my first IVA annual review this month - 6 months ago I moved in with new bf (I did notify cccs of this and send a new SOA and they were happy to leave my payments as is until my review). I don't want my bfs earnings to be taken into account…
Dro - 'normal household expenses???'
Hiya, can somebody help me please - I'm going round in circles. Want to apply for DRO's (1 for myself and 1 for my husband) but can not afford to loose the £90's if the OR deems we have more than £50 a mth left after 'normal household expenses'. Does anyone know what normal household expenses are? We have 3 children and I…
IVAs and Personal Gaurantees
Hello, I hope that someone can help me with this question. My business went bust last September leaving me with some quite considerable debt. Included in the overall debt is around £35K owing to two banks for which myself and my former business partner signed a personal gaurantee. The PGs are "joint and several" meaning…
DRO: Your Experiences With Debt Relief Orders
After so long trying I finally managed to get through to the national debtline and talked to a lovely man about my circumstances and one of the thigns he mentioned was a DRO. He said there was a backlog and a few teething problems with them and I was wondering if anyone could please give us their experiences so far - if…
IVAand reclaiming charges from RBS
Has anyone who is in an IVA managed to claim back from Royal Bank of Scotland? I have requested the refund but they have refused as I am in a live IVA, and suggestions? Thans
is iva an option?
hi, im 27 and thinking of goingto unniversity in september as i am stuck in a dead-end job and need a change of career. the only problem is that i owe around £13,000 on a loan, £2,000 on a credit card, and £750 in my overdraft and am paying a mortgage. I am going to move back into my parents house while i study the 3 year…
advice please with house buying after iva is settled (completion certifcate pending)
Hello there, im a new one here but could do with some advice, i have last month settled my iva with a full and final offer to the ip, this went to the creditors meeting and was accepted, i am yet to receive my completion certifcate, this is where i get concerned though, my nan has now offered to buy me and my brother…
IVA & BR request
Can I request my IVA administarotrs to make my wife and I bankrupt? (Other than default the monthly payments) It has been running for a year so provision for BR will have already been taken out of this.. :o
Anyone already have a Debt relief Order form?
If you have had one (to save me a lot of time and messing about) what things do they ask for i.e. reciepts, statements etc, etc.? So then i can get these things prior to going to the debt counsellor. Cheers :beer:
IVA Review - 2 years on
I've been on an IVA for the past 2 years and my arrangement is currently up for annual review. In the last year I increased my payments from £400 to £500 per month, and since this increase I have received another payrise giving me an extra £240 per month. Despite the budget the IVA allows me I am still finding things…
IVA advice
I owe 60k on credit cards and now am struggling a bit due to phone not ringing like it used to. Thinking of going down the IVA route only if things don't improve in the next 9 months. Question Wife and I both need cars for work, mine is not worth that much as it is definitely a work car, wife's is newer but she needs for…
DRO Pack Question
I recieved my DRO pack from NDL this morning, lots of things for me to fill out, however I am uncertain as to whether I need to send in a bank statement?? It doesnt mention that I need to do so in the accompaning letter, but does mention it in a seperate checklist. I dont have a bank statement to hand at the mo, so I would…
How will my IVA affect my ability to rent?
I'm about to apply for a rented property: I have an IVA.. I have Default notices.. I have Mortgage arrears.. (I've stopped paying the latter, it is about to be repossessed) They want £230 for the Credit check/suitability which is almost certain to fail.. Should I just pay for a guarantor check instead? :confused:
Debt Free Direct dilemma
I went to the CAB website and seamlessly linked to the Debt Free Direct site and thinking they are a trustworthy Company, contacted them on the phone. I found them very helpful and they sent me a package which I duly filled in, returning it with as much information as possible including last Bank statements and signed an…

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IVA & DRO

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