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IVA & DRO

Archives for January 2010

Child Benefit/DLA exclusion
Hi, Was wondering whether anyone had any knowledge on this..... recently the law changed when calculating housing benefit\council tax entitlement and now all child benefit and DLA is excluded an income for calculation purposes. Previously i believe that ALL household income was counted and this meant that some people…
preferential payment on the DRO
Okay, I've decided to go ahead with the DRO, and I'm currently in the process of selling my car to replace it with a cheap motorbike worth under £1000. That part I'm sorting out.. At first I thought I owe'd just 7000 to companys, but my mother quickly reminded me that I owe her about 5000 as she's been paying my bills for…
IVA First yr check coming up, advise needed.
Hi there people I'm after some advise if at all possible. My yearly meeting is about to come up for the first time and I have a few questions regarding it. My situation had changed, when I first went into my IVA I was sharing with freind and as such my rent was only at £320 per mnth. However he has now moved out and hasn't…
Big Thank Yous
:AHuge big thanks to everyone on this board who got us over our LBM and phone terror, finding out iva wasn't going to work for us at the moment...we are going with the dmp, its a low start one so worried how it'll be accepted but its all we can do. Feel so much better from just facing it properly! :TThank you:T and hope…
Few questions
Does anyone know which proffesions bankruptcy does affect? Do IVAs take into account your car as an asset? Do IVAs take into account joint accounts if one is going down the IVA route and the other not? Thanks guys just want to make the decision and go for it! xx
thinking of a IVA, first time poster...help!
hi, im thinking about getting a IVA, im really struggling with money and i feel a IVA is the only option i want to take (in oppose to BR) Ive managed to get myself into a pickle with money through years of being stupid with my money and racking up a lot of debt. Now im currently owing about 40k, this is to a credit card…
iva accepted in dec 2009 advice please
Hi i have been following you all for about a year now,its such a relief to read about other people in the same situation as myself. I have had my iva agreed in dec o9:jmy debt was £41,000 :( i had the famous lightbulb moment,trying to cash out on credit card to put in the bank,so my direct debits wouldn't be returned!!!…
Credit file confusion (Post IVA)
Hi all, Have just received my credit file and am going through it, post IVA, to try and get this sorted out. I have to say that the whole thing seems a little bit daunting! This "clean up" is something I never would have known about if it hadn't have been for this forum :T I have printed off the sticky with all the info on…
DRO and Car asset.
Hello all, I'm just researching in applying for a DRO or other debt relief. I currently have a car on what I was thought HP but it turns out its a Fixed Sum arrangement which has ~£6000 left to pay on it, and a credit card maxed out at £989. I've recently gone back into full time education in college (so I'm not eligible…
Letter to creditors
Hi, sorry I have another question. I have an appointment with CCCSVA next thursday but in the meantime I was going to send a letter to all of our creditors explaining that we are in financial difficulty etc and send another token payment by internet banking. However, after staring at the screen for an hour I can't work out…
Angry IP!
Hello and good afternoon, I am in the 5th year of my IVA which has been extended by another year after a variation meeting last year! I was paying £814 a month..........to cut a long story short, my marriage broke down leaving me with no place to live and no assests. After being in debt for most of my working life I had…
Debt relief order advice please !!
Hello i currently owe around 14k in bank loans, to 2 different banks. After my income less all my expenses i do have less than £50 so i would be eligible for a dro. This iswere the problem lies. Due to several family issues, i rent the house were i am living off my mam because she is backwards and forwards between our…
IVA query
Hi, My wife and I had our "lightbulb" moment just after Xmas and have been in contact with CCCS, who who recommended that we take out an IVA. My wife was a self-employed childminder but the family she worked for could no longer afford a childminder so she's been out of work since October. We were just about keeping our…
1yr in to my IVA - still confused and angry
Hi, I had an IVA approved in Feb 2009 , but i am 1 year into it and feeling very frustrated and confused. I had a 100% mortgage with 20% unsecured loan (£35k) tagged onto the mortgage + a further £50k on loans and credit cards. I had a hard divorce in 2004 and took on all the debt from my marriage, plus released all the…
New Bank Account
Hi, I have just sent through my details to CCCSVA for getting started on an IVA and I need to get a new bank account set up asap. I am now worried as I have missed payments etc that a new bank won't let me set up a bank account due to poor credit history etc and was wondering whether there are any banks that are good to go…
Should I go on a DMP?
Hi, I currently owe approx £40k in debt. I am struggling with it and its causing me alot of sleepless nights etc. It has been suggested to me to go on a DMP, but I am unsure. I intend to speak to the CCCS tomorrow to get more information. I arent a home owner and currently live in a private rented house with my girlfriend.…
IVA complete today!
Hi all, Need a bit of advice. I have had my completion certificate for my IVA today:T after settling this 2 months early out of my redundancy payment (my IP contacted my main creditor who were happy for me to keep the remainder to live on as I don't have a job:(). Anyhow to the point... The letter from my IP advises me to…
was thinking of an iva
Hiya hope someone canoffer some advice as i seem to going around umming and arrggghhhing. (confused!!) Myself and my husband have debts totalling 33k, none of these are joint debts. I am currently on maternity leave due to go back to work in march but theres a problem......my husband is in the forces and whilst me being on…
IVA Failure
Hey Everyone Well got my certificate of failure today - seems I have paid £11,860.57 and Payplan have kept half of it and are saying that there is insufficient funds available following the part payment of the Nominees fees and the supervisors disbursements with which to present a petition for bankruptcy. Payplan have also…
IVA or DMP
I have read the great advice coming from others for similar things on here. I have been in touch with Payplan to discuss the options and they have suggested I take a DMP at 405pm to pay toward my outstanding debt of 75k for 19 years. They have also offered the option of IVA but have suggested my circumstances would make it…

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IVA & DRO

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