-
Trust Deed or DMP?
My wife and I are struggling to pay debt of around £35,000 owed to about 5 creditors. Currently our income varies enormously and is difficult to predict. We absolutely want to avoid sequestration/bankruptcy so we see our options are to enter a Trust Deed or Debt Management Plan. I need impartial advice about the likelihood…
-
Been/going through a Debt Relief Order?
Hi, newbie here so be gentle! I've currently booked an appointment with the CAB to dgetting a DRO. I have debts of £8000-9000 with 5-6 creditors. I have a permanent job that starts in around 4 weeks as I am waiting for a Criminal records check to go through. I will only be on £1200 a year and after a six month period of…
-
Will we be accepted???
Hello, I've been using this website for a while, and have finally plucked up the courage to post on the forum. There's always lots of helpful views and advice, so I wondered if you'd be kind enough to give me your thoughts on some of the niggling questions that keep me up at night! We are thinking of an iva, and I'm in the…
-
Shuffling ISA money
For the past few years I have been able to save my yearly ISA allowance. This year I am not in a position to do so. Since some of the highest earning rate ISA's don't allow transfer in of old ISA funds I am considering drawing out £5100 from an old ISA and using it as this years allowance in the highest rate I can . This…
-
What will happen when I have less incomings?
Hi, I have an IVA for £48,000, and have been making my repayments for 15months of £400 a month. I try to stay very close to the budget set me and I dont have that much left over. I have 3 children, my son who shall be 16 in the summer has decided to not go to college this year, but to go to live with his dad in Scotland…
-
IVA Complaint
Hi everyone, I wondered if anyone can offer me some advice? I've been doing an IVA and was due to finish in October this year, however in November 2009 my IVA was taken over by a new representative at the IVA company i use and at this point I was told that I have £5,000 of additional monies owing that will need to be paid…
-
Be-ri - Debt Relief Order
Hi all. I currently have around ~£10,500 worth of debt. My situation is such that I've lost my part time job, and have had to leave my current University course. I'm now on Income Based Job Seekers Allowance - since March - and have my CCCS Counselling interview in....4 hours time (They will call me). I'm going to see if…
-
Major change of circumstances - Move abroad. Please help!
Hi, I really hope that someone can help us. I am (if I can work out how) planning to declare myself bankrupt. My partner (who doesn't live with me) is just over a year into his IVA . My company have just offered (and really want me to take up) me a transfer to a job in Germany to start asap. There's a possibility that my…
-
IVA Bank Account help please
Hi - we have started the ball rolling with an IVA, opened cashminder accounts etc BUT we have an alliance and leicester joint account, DH has a santander cc that will be in with the IVA - will we need to close this account? Can i ask for his name to be taken off or will it mean, as its a joint IVA, that its a bad idea?…
-
Redundancy payment
My husband is being made redundant and he is currently 0n the 3 and a half year period of a 5 year iva. We understand that the iva has said they will take 50% of any windfall but we are not sure whether this is to cover original debt or to cover amount still on agreed iva. Roughly he owed 55000, iva was set to pay 20000…
-
Seriously considering DRO soon.
Have £9000 debt and seriously considering debt relief order as i meet criteria, does anyone have experience of this? i am in shared accomodation, would baliffs come around? thanks.
-
Council Housing on IVA
Hello, I hope someone can advise. I am two years into an IVA and all is going well so far, however my housing situation may have to change soon and I would appreciate some advice. I am currently lodging (rent-a-room) privately. Am I right that if I applied to be on a local authority council housing waiting list there would…
-
IVA Accepted - question about overtime?
My IVA was accepted on Wednesday. I wil pay back £222 a month on 24k. I am happy with this amount,but I was wondering what would happen if I needed to buy essential living items that break and need replacing like fridge etc? Will I have to work the overtime and pay the 50% as agreed or can I produce receipts on my review…
-
currently on a DMP, considering an IVA Advice needed please
Looking for some advice please. We sterted our DMP in June 2009, with the CCCS. We currently pay £300 a month which means we pay our creditors about 1/4 of them amount we use to pay each month & constanlty have them on our backs, especially LLoyds TSB. Ous debts are around the £50k mark (mine & hubbys combined) and if…
-
Increasing Debt - Should I risk IVA
Okay , first post on this board but starting to have some problems :( I took out a loan with lloyds about 2 years ago and have found that recently due to the ammount I am paying per month it is starting to cause me some problems as ther is nothing left over to pay for any extra's so they been going on my lloyds credit card…
-
Dro statistics
Hi all, just thought I would share this info with you following a FOI request to the IS from Citizens Advice specialist support............. For the period April 6th 2009 - 31st Dec 2009. 148 DRO 's declined with .... 124 exceeded 15k debts not included in application. 7 exceeded 15k within the application. 4 current…
-
IVA payments and emergency bills
My partner and I have been in an IVA since July 09 and after bills / food petrol etc. we have little or no cash spare each month and although this took us a while to adapt to, we coped over xmas / special birthdays etc. etc. The thing is now, our car is in desperate need for 2-new tyres and the rear brakes doing; We…
-
How creditors vote
Hi - not so much a question as a discussion. When I was starting out on the IVA process one of the nagging questions I had was how would my creditors vote - were then any patterns. I trawled through various forums looking for comments but they were few and far between. Browsing this board today I noticed on another thread…
-
Creditor meeting looming
Well, as the title said my creditor meeting is due to be booked today. Barclays & tesco finance are our biggest creditors so we really need them to agree. Has anyone had any experience of these lenders in an IVA- are they likely to accept or do they have a reputation for refusing proposals? Hope that makes sense! L xxx
-
Considering an IVA - advice pls
Hi all, Due to a business going to the wall last year and a serious injury to my partner we have found ourselves with approx 61k of debt, across cars, loans and CCs. In summary: CCs: total 23,680, paying 539 pcm Loans (unsecured): total 32,132, paying 929 pcm HP Car Loan: 4,700 (due Aug 2010, balloon payment or refinance),…
