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Friend is offering to settle my IVA - what is the procedure?
:j Long and short of it is, a good friend of mine is willing to settle my IVA for me. Great im thinking, but I dont know the best way to go about this. * IVA balance £6000 Maximum * Mortgage balance £94'000 (possibly a little more due to missed payments) * House valued by Indepandant Surveyer at £110'000 Am i right in…
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We have signed a Trust Deed
Hello and thanks to all who contribute to these forums. Cutting a v long story short, a combination of placing £60k of our home equity on a house in Spain (hoping to live there),followed by recession hitting the building trade (hubby in construction), me getting ill and needing surgery/treatment (and ongoing monitoring),…
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DRO and Self Employment question
Hi Hoping someone can help. Hubby is applying for a DRO he is currently Self Employed and his van is essential to his work as he is a mobile valeter. His van was an insurance 'write off' a year or so ago. But they gave the van back to hubby and he managed to use some of the claim money to repair it and it's been back on…
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Spare Money
Im seeing CAB tomorrow to see the best course of action. I have lots of info on IVA's and know its one of my options. Does anyone who has an IVA have any spare money left over? I know that all your budgeted costs should be a true reflection and these can be checked at anytime but lets say you were a family of two adults…
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In an IVA and have had car stolen and being charged recovery
Long story short; *vehicle stolen 3 am this morning (unaware of this) *woke up to find a note from police with incident no at 6.45 am *told vehicle was stolen and 'used in a serious crime' *found out where vehicle was and rang to arrange collection. . . .told £150 min charge. . . BUT we cant get car as SOCO havent even…
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First step taken..need advice re getting bank account
I've finally lifted my head out of the murky mud and taken my first step in taking full responsibility for my debt problem and completed the Debt Remedy form with CCCS. Balancing 17+ years on DMP or 5 or 6 years on IVA, I think my best option is an IVA - if its possible. Having been told to get a safe bank account, I've…
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Re mortgaging house after iva
Hi, I've got a question - my friend and his wife owed over 50,000, and took out a five year iva, paying approx 380 a month between them, they've been told that at the end of the five years they have to remortgage their house for 15000 to pay rest of iva money. But if the Bank check their credit surely they will not let…
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DRO dishcharged and trying to open new Bank account
I obtained a DRO last year and it ended in July of this year. Just before I obtained the DRO I was advised to open a basic bank account which I did with the Coop. When I opened the account I was told that the debit card I would receive would be a normal debit card...although on the surface it looks like a normal debit…
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IVA vs bankruptcy
Please help If we were to go bankrupt my assetts would be an 8 year old astra (which has hit the side of a bridge - i joke not) a 42inch plasma, surround sound, a three seater leather recliner, a desktop pc and peripherals. Thats all i can think of that could sell. If creditors accept an iva on the basis that they will get…
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Mortgage after IVA
I finish my IVA next July, and currently rent a house for £600 a month. The person we rent from is a close friend of the family and they are keen for us to buy the house from them, as am I. However, I'm reading all kinds of stories that I won't be able to get a decent mortgage without a substantial deposit. 15% is…
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1yr into IVA - new addition to family?
Hi, I wonder if anyone could offer any advice or help please. We're just approaching our 1st year in our IVA - all has gone very very well so far. However, our situation has changed slightly, in the last 2 months, my young sister (18) failed to get a university place despite excellent results and due to an extremely bad…
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IVA and Inheritance windfall
Hi, I am hoping to get a little advice on behalf of my sister who has an existing IVA and is about to receive some inheritance. Some background: My sister is 26, she got herself into debt living off of credit cards, which obviously became unsustainable. Owing her creditors a total of approx £27k, she arranged an IVA which…
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Mortgage deal coming to an end
Hi Our fixed rate mortgage is near the end, has anyone managed to get another deal or re mortgage during an iva , and should we declare it to them when we call Thanks
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IVA Budget Guide
Hello, I am in a IVA with Payplan and use their online facility to check details occasionally etc. Recently found they had put a budget guide on the site so downloaded it. If any one wants a copy please let me know. Thanks
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Purchasing a shared ownership flat with an IVA?
Hi I currently live at home with my parents but would really like my own place. I have found that purchasing a 1 bed flat under a shared ownership scheme would be cheaper than renting but am not sure if I would be able to get a mortgage? Does anyone know if it is possible to get a mortgage whilst in an IVA? Thanks in…
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Help
Hi I have been looking at this forum for a while and found it really useful so finally decided to ask a question. I currently have several loans and credit cards that up until now I have managed to pay (only min payments though). However this is through robbing Peter to pay Paul. Due to my my good credit file (at the…
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F&F how does this work?
Hi all, I would really appreciate your help on this. Basically my oh and myself have a joint iva and we have 11 months to go. We pay £400 a month so £4400 left to pay. If we did a F&F does this mean that we just offer this amount? I was thinking of asking a family member to take a loan out for this amount and then we would…
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Equity Release
Just wondered if anyone is going through the 4th year equity release at the moment?. Has anyone been able to remortgage?
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give up buy to let and keep my home (iva)
hi all,here goes........ split with my partner so now live alone in my own home worth 160,000 (mortgage 145,000/equity 15,000),also massive income drop due to short time at work,also got a flat in my name worth 115,000(mortgage 110,000/equity 5,000 at best),im 35,000 in debt (cc cards,loans)......flat is tenanted but…
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CCCS and IVA's- help please
Hi My husband has debts of £23,000 on credit cards from before we married. I have always been the major wage earner and pay most bills and we keep all of our finances seperate. DH has only been able to help with our household expenses to the tune of £150 a month as he has been paying nearly all his wages to pay off the…
