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About to enter into IVA - Help!
Hello! I am looking for some answers, hope you chaps can help :) Background: My partner owes approx 26k of unsecured credit. He has been on a DMP with payplan since March 2008 and everything has been fine, all payments made on time and contact from creditors minimal. The DMP was taken out as a short term measure - I only…
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Rebuilding credit rating
I completed my one-time IVA a few weeks ago and have been advised that I should rebuild my credit rating now. Any advice appreciated! Should I get a credit card (to pay off in full obviously - I have learnt my hard lesson now) and which would be most likely to accept? Will my unbroken mortgage, energy, mobile, broadband…
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LLoyds links to HBOS
Hi, just posted this on the bankruptcy board but then thought this board may be helpful too! I'm hoping to go into a Scottish DAS or DMP, currently we have a joint a/c with RBS which we need to leave. And we have applied for a joint a/c with Co-op but i'm keen to have a current a/c in my own name for my salary. Clydesdale…
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What happens next after your DRO Moratoruim has ended
I Have a question what does it mean when its says Moratorium Period ended on 09 March 2011 for exmaple.? Second question if the moratorium peroid has ended how long before a person can get they life back . Do you still have a limit of £300 pounds for the next 3 months and when or if will you be allowed to start saviung for…
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New Bank Account for IVA
Good Afternoon All, After checking this site a few times and seeing what great helpful people they're on here I thought i'd ask a quick question Im looking at going for an IVA and have been reading elsewhere that I wont get a new bank account due to having an outstading loan with Lloyds (About 8.5K) this of course worries…
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mortgage after iva completed
Hi My Husband paid off his IVA around 3 years ago, and the 6 years anniversary is in May this year. We are hoping to be able to get a mortgage and have already found a house we want Do the banks still count IVA's after 6 years, does anyone know how difficult it may be to get a mortgage in May? The house we want is my…
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Debt Management Plan or DRO?
Hi. I have come to a crisis point with debt problems and talked to CCCS about it. They thought my best option would be a Debt Management Plan where I pay what I can afford towards my creditors. I am rebuilding my career after a couple of years of ill health and am currently working part-time. I was lucky to get a…
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Length of IVA??
Hi. Just received my proposal and it is a lot to take in:eek:. One thing I have noticed though is they seem to be suggesting 66 payments rather than the 60 at £215. Is this normal? Also, after 66 payments can they still extend for further 12mths due to equity clause? So, I could potentially be in this iva for 6 and a half…
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Safe business bank account pre IVA
We need to open a 'safe' business bank account. We are £8K in overdraft arrears with NatWest and have just successfully opened a new basic current bank account with Yorkshire. I have been told to apply to the Coop for the business account but am a bit afraid. I downloaded their application form and it asks if you have…
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Dro
Hello, I have just been advised to have/do a DRO, however before I actually get in contact with the relevant people I need to know where I stand with my kids savings, I have 2 kids and the eldest one has best part of 3k saved (towards his uni fees) it is a nationwide smart account and I opened if for him on his behalf some…
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IVA due to gambling
Hi again, you might have seen some of my other posts. My debt is due to gambling which is a separate issue, (now nearly 6 weeks clean). I was wondering if anyone else has experience of an IVA due to gambling and if creditors take a different view on this when looking at an IVA proposal? many thanks dan
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Mortgage help
Hi, ive been reading this forum for a while but never registered. Today I have had some news that I find a bit distressing and I wondered if anyone had been told the same. I am in a joint IVA with my husband (soon to be ex!). We have contributed to our IVA for 4 years and are completing our IVA with a lump sum payment from…
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Satified IVA NO RECORD ON EQUIFAX OR CREDIT EXPERT??? HELP
Hi, I've had a look through the forum and cant see anything that relates to the issues I'm having. As some background - 1. IVA was satisfied July of 2010 2. At that point I registered with both Equifax and Credit Expert 3. My credit rating on both sites was in the TOP Third of their rating system 4. There was and still is…
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Ways to improve Credit Rating after a Debt Relief Order?
I've just past the first 12 months so I now have no debt! :) Few questions: How do I now build up my credit for the next 5 years? What kind of things should I avoid applying for? Is there anything that I would not be granted now that I could be granted in 3 years if I did the right things building my credit? what are they?…
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Creditors Calling
Hi We are currently in the process of IVA application (just waiting for them to draft our proposal). We have stopped all payments at present and our main creditor (LLoyds tsb) keep calling. I feel to scared to speak to them. Am i required to speak to them or can I ignore them or should I write a letter? Any help would be…
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One of final settlement payment advice
Hi Folk new to forum and was hoping for some advice. We have been in our IVA for 14 months now paying £160 a month, and the last 15 payments due to go up to £245 a month. Situation is I am no longer working as my temp contracted ended so we are now down to one wage with no spare expenditure. Now my kind folks have offered…
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IVA? Bankrutpcy? On the edge...
I've made a few posts about my situation before, but thought I would try and provide a concise explanation of my situation. In essence, I have been able to manage my debt, but in the last month I've had a second baby (with partner on maternity) and now my company of which I am a director is very likely to fold. A perfect…
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How much is too much credit??
It's a very good point made, but as most card companies work off your credit rating - providing you keep up your monthly payments - then the card companies will keep throwing money at you. I remember when I first got my Capital One card it had a limit of £3k - by the time I went into the IVA they'd raised this to nearly…
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Completed IVA - My Experience
I have read a lot of concerned posts on here regarding IVAs so thought I would share my experience. Due to various reasons I had spiralling debt, I was (and still am!) married and a homeowner. I found myself swapping money around various credit cards to pay bills so that I never missed a payment. It got to such a point…
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If IVA fails
I have spent the last 3 months entering into an IVA and the creditors meeting is 2 weeks away. Up until 3 months ago I was still paying of all of the debts at the required amount. I stopped when the IVA process started and have been using the money to buy essentials and the odd treat for my kids as I know if the IVA is…
