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IVA & DRO

Archives for August 2011

Annual review question
I am not in an iva but hubby is. My wages are used to pay my share of the household expenses. They used this to work out the disposable income.. The problem is it says in the iva agreement that any increase in wages thus increase in disposable income we have to pay 50% over per month. I understand doing this with hubby's…
Childrens Money?
My children are in line for a bit of money from the sale of a relatives house, nothing major, but significant. Does my IP need informing? Just my OH and me on the IVA.
How do i rebuild credit after DRO/BR
Hi, I am at the very early stages of sorting my money out but it has been made clear that a DRO or BR is a very real possibility for me. I wanted to get some advice and some or your personal experiances on what the obsticals and how to rebuild your credit rating after DRO/BR are? Thank you Hayes
DRO's & social fund loans
I have just completed my year of a DRO and it has become apparent that the deductions being made from my JSA were for a debt for a budgeting loan which was included in my DRO, and not for what I thought the deductions were for, hence why I didn't query it. At the time of the DRO the intermediary said the issue of DWP loans…
Iva annual review
Hi everyone, i'm about to complete my annual review however i have a few more expenditure items to add to the review. My husband now has to travel to work so a family member has lent us some money to buy a motorbike, so we have the added expenses of petrol and insurances such like, also the money to buy the bike was only…
Shall i start my 30's with a DRO?
Hi, This is my first post on the site (or ever!) I have over the past 10 years slowly gotten myself into some serious debt. I am curently employed through an agency and earn a take home pay of around 850 a month. I am currently trying to find permenant work however as a support worker it is unlikly to be much more. I want…
Iva or not
Hello Im in bit of a dilemma I owe £22000 to 3 creditors I am using credit to live on :mad: I have an Iva appointment booked for next week but wondering whether to go it alone i.e. call my 3 creditors 1st and see if any thing can be worked out and if I do speak to my creditors do I mention that im considering iva . Look…
Help with IVA and inheritance
Hi guys i need a little advice please. Im in the process of starting a IVA with my wife. now it is not started yet and my wife has just had a inheritance come her way im right to understand that any windfall you get is taken by the creditors while you in a IVA. My problem is this my wife is only in the IVA with me becouse…
help plz
Hi all i was seeking some advice please. I am currently in my 3rd year of my 6 year iva. S o far had a few hiccups but nothing major ie payment break of a month for my car blowing up and just recently had a 2 month break after having surgery. I had a variation meeting at this point where my iva was increase by another 3…
Defaulted IVA - advice needed
Hi all We took out a joint IVA in 2008 for a total debt of about 67k. Thought this was our best interest as we have a mortgage - but monthly repayments were £700pcm and we couldn't keep up with the mortgage. Telephone advice from IVA company was basically not to pay the mortgage. So to cut a long story short we ended up in…
DRO advice!
Hi all, been reading the boards for a while but finally decided to post! Since January 2011 I have been dealing with the CAB's Debt Specialist Team in regards to a DRO. I am at the final stage now of getting the application completed, I am going to meet my case worker tomorrow to get everything finalised with upto date…
Help writing the explanation for IVA application
I'm really stuggling with what to write, or not to write. The check list says keep it short, but then the info in the personal details section is vast. I have looked on here for other posts but am struggling to find any guidance. Could someone please offer some advice and/or a link to where this has been discussed before.…
Surviving the application process
We've been working through all the forms and the income and expenditure and changing banks and everything for about two weeks now. It's really hard going as it's the uncertainty of whether our IVA proposal will be accepted that is difficult at the moment. I know they would only put us forward if they were fairly certain…
Creditors meeting 6th sep
Ive finally got my creditors meeting set up just wondered if anyone has had dealings with ndr money(little woods very Marshall ward) and Hfc bank on if they generally accept or decline also how long does the meeting take to get a result?
IVA and credit score
I am now into year 3 of a 5 year IVA. Due to my wife loosing her job the IVA is now due to run on for another year finishing in Sep 2014. Has anyone had any luck in trying to rebuild their credit whilst in an IVA. I checked my score last week and its at a lowly 114. An IVA was recommended to me back in 2008, something I…
Bankruptcy v IVA
I've been having a read through all the advice on here but don't really seem to understand the main differences between bankruptcy and an IVA. My partner nd I jaw around £45,000 debts and we own a home which according to the mortgage company we have no equity in. Although when we had an estate agent come round 12 months…
Thinking of IVA
Hi all, I am weighing up my options on whether or not to apply for an IVA. We currently have just under 30k debt (Not including my car which I need as I do a 70 mile round trip for work each day). Both my husband and I are a little wary of what to do, as approx 16k of this would be paid in 3.5 Years. However, we dont have…
IVA Accepted - Woo hoo, woo hoo hoo!!!
Hello Gang,:hello: Hubby and I have just received our telephone call to say our IVA has been accepted. I cannot tell you what a relief it is to have finally got there!!:j Modifications need to made only on the side of the CCCSVA, so we are very happy. All bar one of our creditors voted, which was "Next." The creditor I was…
Iva help
My husband and I are 22 months away from an IVA completion, which we are really happy about, however we have had a run of bad luck and have had to replace some major appliances in the house and also have major work carried out with our vehicle. due to being on an IVA we have no savings and we ended up applying for credit…
joint debts with non-paying ex, can I go IVA alone?
Hi, I have a separae post/thread going under debt free wannabee and am posting here to get more specialised opinions on IVAs. I'm looking at all my options, IVA being one of them. I have mortgage and unsecured loan in joint names with my ex who walked away in 2007 and pays nothing. I went into DM with Payplan in 2010,…

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IVA & DRO

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