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IVA & DRO

Archives for February 2010

IVA's and Mortgages
I'm hoping someone can give me some advice. My husband and I are seriously considering going into an IVA however I have concerns over the impact this will have on our mortgage. I had heard before that when entering into an IVA it is usual practice to switch to an interest only mortgage - is this actually the case? I really…
IVA and my mortgage - will it be worth it if I have equity in 54 months time?
Hi I am brand new to forums so please let me know if I am doing it right! I have £37 K debt (on credit cards and including my £2500 overdraft) - just opened a new bank account (Nationwide) and got paperwork to start an IVA - this would mean a payment of £165 per month into IVA but my concern is that my mortgage may have…
cccs iva
hi, basically my girlfriend has been dealing with the cccs regarding an iva and just recieved her proposal. However i feel there are a few things on there that doesn't seem right. 1, her current debts are around £26k credit cards, loans the usual things. She also has a joint morgage with a friend that they took out a fews…
Withdrawal of IVA
Hi this is my 1st time so not sure what i am doing but lets hope... I am in my final year of my IVA and have been sent a letter saying they cancelling my IVA as i have not provided wage information. I have never provided wage information before so why are they requesting this now in my final year. They have never…
Full and Final IVA
Really dumb question but what is a full and final IVA? Can you make a big payment to your creditors during your IVA to end it? Do you have to pay the total amount or is it a percentage of what you owe? Thanks, Jx ps have finally decided to go with the IVA rather than BR so will no doubt be around here a bit more now…
Its my first time - help please
:( hi everyone out there. This is my first posting. I have just sought help from CCCS and am considering an IVA. What does anyone out there really think? I am interested to know what people who are actually in the same place as me have experienced. I'm really scared n upset. Not like me!
budget for an IVA
Hi thanks to all the people who post the help on here helped me lots in the last few days. Me and my partner have debts totalling about 35k and have been missing payments left right and centre:embarasse we need to do something about this as soon as possible to stop getting into a further mess. Have just been on the CCCS…
Blair Endersby
Am I the ONLY person on the planet who is having a positive experience with them ???? !!!!!!
Equifax query (post IVA)
Hi All, Have just got my Experian report all sorted out, so I though I'd start with Equifax. I have a few queries:- On my report all entries are 'status satisfied' The 'date satisfied' on each entry varies from before my IVA start date to the end of last year. NONE of these dates are after my IVA completion date is this…
IVA uncertainty
Hi guys - I'm new to this forum, and to the website (so please be nice) I'm currently halfway through an IVA with Paypal and of late, I'm beginning to wonder if it was the right decision or if indeed I'm being treated fairly. My total debts amounted to, well I'm not sure as looking back I've had figures ranging from…
Tax Refund during IVA
I am registered self employed, and so have to submit a tax return. In the tax year 2008-9, I also worked a few months under PAYE. We started an IVA in about August last year, and when I submitted my tax return last month, it said I was due a refund of around £500 for the tax taken from my wages. I had heard no more, so I…
IVA had creditors meeting....now freaking out!!!
Hi, I have around 46K of unsecured debt on credit cards and a loan & student loan. 12K of it is student loans (which has to be paid back anyway) so were really talking about 34K...Yes I've been stupid, living beyond my means for 10 years, and drinking myself into a depressed state thinking it will all go away...well this…
One-Off IVA - How much to offer ??
Hi, I've been paying into a DMP arranged via CCCS for just over a year. I've come to the conclusion that this will take more than 5 years to settle therefore an IVA would be a better approach (in fact an IVA would have been a better option initially). The money paid into the DMP (£4k) has to an extent been wasted as it…
spending savings prior to IVA.
Hi All, I am considering entering into an IVA and have a few questions that I haven't seen discussed anywhere. 1. I have £1000 in savings. I know once I enter the IVA these have to be used to pay off creditors. I also have some items I need to buy for work (laptop and some essential software). If I spend the savings to buy…
Allowed costs for IVA
I've had another go at a budget for my IVA, using the CCCS Debt Remedy values so hopefully someone can provide additional input as to what I'd be allowed, as obviously I want the lowest payment possible. Monthly Expense Details Mortgage................................ 0 Secured/HP loan repayments.............. 0…
How do you improve your credit rating after an IVA?
With huge relief, I am about to complete my IVA. However, I'm not really sure what to do now. I know my credit rating is trashed, but how do I go about rebuilding it? I understand that being rejected for credit will worsen my rating and applying for a lot of credit will affect my rating too. Are there any companies who are…
IVA Questions!
Hi All, Been reading through loads of the threads on here, and some fantastic help and advice. I have a couple of questions though, if I may: My partner and I are financially linked, as we have a joint bank account and also a mortgage in both names. While she has debt, it's nothing in comparison to mine. We have no arrears…
and another question.....payments in arrears
Hi, sorry for asking yet another question but I am behind on all of my credit cards repayments now and I have written to them explaining that we are in contact with CCCS and have made a token payment of £1 (as we simply cannot pay them all). Is this going to affect my IVA application (if we finally decide this is the way…
IVA fail - Do not pass GO - Go straight to BR
Hi all. Firstly thanks to everyone who has contributed countless hours of posts to this forum. The information is invaluable and gratefully received. My question: If the creditors (by value) decline to accept your IVA proposal, would they immediately move to make you bankrupt? I'm in a situation where I have been…
Partner's income & IVA
Hi I have a DMP with CCCS and have been with them since Sept 09. Following a review I was referred for and IVA recently. I had my first telephone application with CCCVA re this yesterday. The debts are all in my name following the breakdown of a previous relationship where I foolishly took on a lot of debt in my sole name…

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