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Q's on IVA assets, payments, SOA
Some probably silly questions: When declaring any assets on entering an IVA, if you have any savings do they demand that you hand over the full amount? (Sounds odd even having any savings I know but it's not a huge amount...) Also, does this sound plausible? I was told by Moneyexpert (whom I've dropped as they wanted…
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IVA Moneyexpert.com?
Hi everyone This year has seen us in the situation that we can no longer afford to keep up minimum payments on our debts. I am looking at all avenues of advice initially have written to credit card companies to advise situation and offer reduced payment plan not accepted by any of them yet and have started getting letters…
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Mortgage Prospects Post-IVA
Hi My husband is just about to enter into the final year of his IVA - the debt is purely his, from before we met, and is not linked to me in anyway. Our house and mortgage are in my name only, from before our relationship, I have a very good credit rating, but am currently unemployed. I am seeking part time employment, but…
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IVA help wanted please
Hi all, Am new to this forum and would like to get some advice and help I need for my IVA. In July 2010 am going into my 4th year of my 5 year IVA. In the last year am running into problems paying my monthly payment of £339.00. I have not missed any payments but am getting loans from family and friends to make this…
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moving and renting
Hi, I have the very real possibility of being offered a better job 250 miles from my current location. We own our house and have an IVA. The new job is great for my future (IP told me those things are taken into consideration) but because of the additional cost of living near London and commuting, i would not be able to…
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Creditors Meeting Looming
Hi everyone, Just thought I'd update you on my situation. Went with Payplan for IVA. Unsecured debt approx 55k, proposed payment over 5 years £360pm. So roughly 29% being paid back as opposed to sweet fa in bankruptcy. Creditors meeting is set for April 12th so keep your fingers crossed. Cheers
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Ok here goes ......
I've been lurking on the forum for a few weeks now and think its fab, and have taken the plunge and joined. I've started the first steps towards an IVA today. I have over 20K on 2 cards and a loan and having investigated all the options available, this is the best route. Feel relieved that things are now in hand and that I…
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Iva i&e
Hello Was wondering what people in an IVA have been allowed under "housekeeping" on their I&E's. When i had my phone assessment with Payplan, they said a family of 5 could have £580 per month for housekeeping. Is this similar to others? To be honest- i actually spend £450ish but i'm not gonna turn my nose up at an extra…
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F & F Help Please
Hi All, I'm after some help please, myself and OH been in IVA since Aug08 paying £440 per month over 72months. when Its comes to August this year Im going to see if I can finish the IVA, Its a living nightmare, our marraige is suffering I have depression, I could go on but wont bore you all. I have never told anybody about…
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Question
Hello all, Just a quick question. Although I am currently in the middle of an IVA I still have my contract phone. Will the fact that I pay this every month help my credit file improve quicker once my IVA is complete? Also, off the subject but something I found very strange! I have an HSBC Solo card which I've had for some…
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Ex's IVA
My ex has entered into an IVA with PayPlan - I suspect he has not been totally honest with them about his earnings but that is nothing I can prove. My question is, we are finally in the process of sorting out our financial matters and our house is up for sale, so he will probably end up getting a figure of say between…
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allowances for living expenses?
Hi considering IVA- anyone have any idea of what living expenses are allowable? not talking extravagancies- is there a list of what is allowable and what is allowed in each category? Thanks
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iva rules
i hope this is the right place to ask,i have a relative who has a iva she is working but not declaring this,had a inheritance(bought a brand new car)and goes on lots of holidays abroad i dont want her to get into trouble but this is against the rules(gathered from reading on this site)what could happen to her if she is…
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Still Adding Charges etc after DRO
A quick question - Companies I included on my DRO in October 09 are still sending me statements which add charges and interest. Should this be happening? Obviously it will affect the final balances. I know they know I have a DRO but still they send me these letters.
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4th year equity release
hi sorry this has been asked before, but i could do with some clarification. I am onto my 4th year of my iva was with accuma, now with grant thornton, i am due shortly to look into equity release and was wondering if this could be an option for me. I really would like this, to hopefully finish the iva,my details are as…
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Another IVA question
Hello again Since the end of Jan i've been sending token payments to creditors as advised by Payplan- as a result we'd saved a couple of hundred pound. Are Payplan entitled to ask for this saved money? We'd intended it to be a contingency fund for when the IVA was in force (after all- disasters can't be sorted out with…
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IVA Monthly Repayments
Hi Everyone I'm after a bit of advice regarding IVA'S. I'm currently on a DMP and it's going ok apart from the odd couple of creditors playing silly !!!!!!s, if they continue to not accept my DMP and add interest and late payment charges then I may be forced to go down another route. I don't want to make myself bankrupt as…
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New Mobile Phone Contract...can he get one?
Hi All, My OH took out an IVA earlier this year and obviously he is now unable to get credit. His phone contract recently ran out and the phone company offered him a renewal. He accepted this and the phone arrived, then he cancelled it and sent it back because we realised it wasn't a very good deal. We've been looking…
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Any update of the DRO and possible pension pit increases?
Any update of the DRO and possible pension pit increases? Keep looking at the insolvency website but nothing yet. Just looked through that huge legal doc and cant see anything about pensions...grrrr. If the changes dont happen soon its BR for my BF.
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IVA self employed questions
Hello Still in the process of setting up an IVA with Payplan - very slow going- they're apparently very busy! Anyway, at the start we had to do a "cash flow" summary for my hubby's business. He doesn't use an accountant to do tax returns etc as its a new business & the money isn't there to pay accountancy fees. They said…
