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IVA & DRO

Archives for September 2011

Advice please
I am due to pay my 60th payment on my IVA in October, and had a call today saying that they have not received my valuation that they asked for 10 months ago. My questions are why 10 months wait before they tell me this? My proposal say's The debtors property is to be professional valued within 3months after the fourth year…
DRO and Social Fund Loan.
Hi all, I finished my DRO over a year ago,this included an amount from the social fund.They were still taking payments from my JSA (i think) during my DRO and after it because I was still on JSA.I think I looked it up then and appears they were right to do that. Since then I'm working part-time and have done for just over…
Old Bank Account
Can anyone answer this for me?:cool: I sorted out a 'clean' Barclays bank account in July 2011 for my IVA, started 1/9/2011, but i had a payment from work go into my 'old' bank account with the Lloyds TSB by mistake, i presumed that after accepting the IVA that Lloyds themselfs would have closed, capped or stopped the…
IVA extension past 5 years
Help! The last payment for my IVA was due this month, however, following an agreed 2 months abstention to help pay for my Mothers funeral, I WAS expecting my last £328 monthly payment to fall at the end of November 2011 - that was until I received a letter from DFD telling me that as there was no releasable equity in my…
Ex partners entering iva's with joint loans
Hi everyone My ex and I got a joint loan. I had nothing really to do with this loan as It was for my ex partner. They wanted a loan to pay off their credit cards etc but could not get a loan in their name alone. I agreed to put my name on it being young, naive and not thinking anything of it. The monies went into their…
Just thought I'd share...
My IVA was accepted! I'm so, so relieved. I didn't sleep at all last night worrying about the outcome of the creditors meeting, so I'm planning on celebrating with a nice cup of tea and having a nap! Here's to starting on the road to financial freedom :beer: Many thanks to those of you who have given me words of advice and…
Please someone help i am living like a Ghost and had enough
HI Due to family problems , i missed payments on my credit cards in Nov 2006 and no job for sever months its nearly 5 years , i left my rented home due to ballifs and DCA letters etc . i been living with different friends from last 5 years and doing part time job 10K Gross which give me £730 per month after tax etc from…
IVA Percentage of Income?
We have our creditors meeting this week and are worried that even though we have been very honest about our actual income and expenditure to offer them the highest amount that we can, that they will still ask for more at the meeting. As it is, we are still going to have "cashflow" issues given that some months we have…
Payplan Vs CCCS Vs Grant Thornton
has anyone had any IVA dealings with GT? I am torn who to choose to handle my IVA, still waiting to hear from CCCS for a proper chat but I know they are well respected. PP & GT have given me conflicting information regrding a HP so far so my heads quite muddled at the minute. Success or horror stories welcome to help me…
Please help!! F&F settlement
I have been in an IVA for 30 months for a 60 month repayment. My monthly fees are 23p in the £ and have so far paid off £7800 by my calculations My parents said they will lent me a max of £4k to pay off the remainder. I have done my calculations based on p in the £ and have come to these figures. Could someone have a look…
IVA and death
If the person who has an IVA dies during the five years what happens with the debt?
IVA and savings
Hi My wife has saved money in accounts in my name. I have documentation to prove that she alone has deposited all the money. Although this is not my money would this still at risk with an IVA? Any help appreciated. Thank you.
CCCS & compensation claim
Hi, I have just spoken to CCCS regarding a possible compensation claim for a whiplash injury. They have told me it would be considered a windfall and would have to be paid into the iva if it's over £500. Is this correct? I've read that compensation for pain and suffering shouldnt be considered a windfall? There's no point…
IVA & Car HP
Hi there quick question, my wife and I are still trying to decide which route to go down (IVA or DMP) and after speaking to a lady at payplan are rather concerned about our car. We are paying 200 a month on the car with just less than 4 years remaining on it and pp said that sometimes the creditors can be funny and demand…
Full & Final Settlement woe
Post removed!
IVA and student finance HELP
We are going through the process of an IVA and our IP has advised us that our creditors won't accept any provision in our budget for our daughter who starts university in a weeks time. Student Finance won't help either because while my husband has been out of work for two years, I still have on paper a good salary. This is…
General question about IVAs and bankruptcy
Hello This doesn't affect me but I was after some info. What exactly happens when you have an IVA? Does someone sit down and go through your outgoings and tell you what to cut down on, and then how much you should be paying back to your creditors? And if they do work out how much you should be paying back is that amount…
IVA: Why need 2 creditors with 3 lines of credit?
Hello, Just a quick question...why is a part of the criteria for an IVA that you need 2 creditors with 3 lines of credit...why cant you just have 2 creditors (with just the 2 lines of credit)? I cannot think of a good reason!!!!! Ta have a good weekend
PPI Repayment and IVA's
My wife and I entered into a joint IVA nearly 2 years ago and all is going well. Recently we chased LLoyds on 2 PPI claims. 1 is for a loan paid off the other had a handful of payments left when the IVA kicked in. We have just been notified that we are getting substantial repayments against the PPI's one will come direct…
Where do I find the info on windfalls etc
I've been reading various posts on here regarding windfalls, redundancy etc and the answers invariably refer the question back to their IVA document. Is this something you get if your IVA is approved? I can't see anything in the paperwork we've had to date - prior to the creditors meeting, relating to anything on this sort…

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IVA & DRO

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