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IVA & DRO

Archives for January 2012

DRO Question
Hi, My partner and I have been struggling with debt for some time mainly due to the fact that we are both self employed. I work part time from home and look after our son and my OH is a sports coach he has to travel quite far for his job and spends between 250 - 300 per month on fuel (he earns approx 14K per year) I…
IVA or not to IVA
Hi folks! Just registered.....so welcome the newbie. I've been reading through different posts for a while, thanks to everyone. Ok in a nutshell i am nearly £40k in debt with unsecured debts...most of which have been passed to debt collectors. (Already handed back the house and they still want £14k off me. I have no…
Help! DRO in place but still being chased
Hi, I have a dro that was set up on 21 Dec 2011 and it is showing on the insolvency register (so I am presuming its all gone through ok) but I am still being chased by barclaycard, today I have had a letter from a debt collection agency on their behalf. What should I do? Should I contact Barclay card or the collection…
IVA and partnes income
I am in a huge amount of debt. I owe about 80k from when I ran a business that failed. mIt is in the form of credit card debt, loans and overdrafts. I want to enter an IVA but the problem is my partner earns much more than I do and the IVA company want a chunk of what she considers her money. She earns 40k and runs her own…
DRO Advice please
Hi, I am 56 ears old. I have a Halifax debt which currently is £11,300. From 2006 onwards the debt has been handled by Halifax Debt Collection Agency. The amount was frozen [no further interest charges] and I agreed to pay £10 a month. Between 2006 and 2011 I paid varying monthly sums between £10 and £18. Since 2011 I have…
IVA & Mortgage Hell!
We have just signed up to an IVA - after incurring credit card debts of £31,000. We have a mortgage of £110,000 - the house is worth about £150,000. I'm 57 and my wife is 61 (she doesn't work - health problems). Our total monthly income is £2,180. Should we just try and sell the house and pay off all the IVA and live in…
Protected trust deed discharge help please
Hi all I signed a trusted in may 2006, this was granted protection in Aug 2006. At the time i was paying £50 per month towards this but after about a year i couldnt afford this so they told me i could stop paying. At the 3 year anniversary it was extended to a 5 year trust deed then May last year was the 5 year…
Experiences on doing a Debt relief Order!
Have posted on the IVA/DRO forum but no response! Could anyone please described their experiences doing a DRO in particular the paperwork side to it. Thanks:)
DRO revoked
After being 6 months into a DRO it has been revoked due to a new debt that has come to light and I never remembered to include it in my DRO.It has now taken me over the £15,000 limit and has been revoked.I am terrified that soon people I owe will start harrasing for payments.I only get state pension and pension credit,all…
DRO and life insurance
I'm acting for a person who isn't well with severe mental health problems, the CCCS have recommended doing a Debt relief order. If you have a life insurance policy (not endowment) do they want that sending in? Just need to know what paperwork I need in full. Also, I found a form online which I'm sure is a DRO form and it…
Has anyone struggled to get Car Insurance?
just wondered as my car insurance is due for renewal and last year I had to ask my parents if they would pay my insurance in full for me and I repay them as I was declined car insurance on a pay monthly basis. I just assumed that was because I am in an IVA that that happened to be last year... dont really want it happening…
Mortgage protection insurance
I have read everything aout reclaiming PPI. Does anyone have any advice about reclaiming MPI please? Claim to building society has been rejected. Thanks:o
Dealing with debt on my own-some advice please
Has anyone else dealt with creditors directly? I have taken advice on my finaces and it has been recommended that I go into a Debt Payment Plan under the Debt Arrangement Scheme( Scotland)and I am toying with the idea. However, the advsior insists that I fling every debt into the pot when my main problem is cash flow over…
Really worried....
I have just come home to a letter from CAPQUEST - a letter of claim under the practice direction - pre action conduct. They are saying that I have not paid a debt of £560.92 to barclays partner fianance. I am in an IVA and have been for more than 2 years. They are threatening county court action in 14 days. I am really…
A little advice needed please!
Could anyone tell me what the minimum pence per pound and the minimum monthly repayment that would be accepted on an IVA. After doing some research i thought it was 25p per pound and £200 a month which would be to high for me. But then someone said they pay £130 a month which they think was 18p per pound. I understand it…
Iva review Payment Doubled
Hi there, Advice needed we have had our Iva in place for a year no problems until now. Our review has just been done and we have been told that we now have to pay £494 instead of £240!per month this is double what we pay. But our pay has not increased by double, when we applied we were told that my susistance for being…
Life after an IVA
I finished my 5 year IVA back in October last year and have had the final statment etc from my IP so its now closed. I have contacted the main 3 CRA's with copies of thier completion document. This was done in December. So, what now? How do i go about rebuilding my credit rating? I want to buy a new car this year as the…
Closing all credit before DRO
If you have an overdraft or a credit card open but with no money owed, from a lender you don't have other debts with, can you keep it when you go DRO? Then I guess you'd have to not use it during the 12 months, but after discharge you'd have that credit account without needing to apply again. Or would everything be closed…
IVA - could do with advice/experiences from people who've been there
This may end up being quite long as is a little complicated. XH (was not XH then of course) and I took out IVAs in February 2010. Total debt in the region of £55k. Were paying £366/month. At the time we owned our house. Moved in June 2010 which was agreed and paid the excess we got into the IVA (about £1,500). Had first…
DCA correspondence when in an IVA
Does anyone know the correct way to reply to a letter I've had from a collection company called DLC? I am now in an IVA and thought that creditors were not supposed to write to myself but to the IP but not this bunch- today I got a letter telling me the account is in arrears and sending a default notice- but it isn't in…

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IVA & DRO

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