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IVA & DRO

Archives for July 2012

IVA advice
We currently have an outstanding debt of £80k and have been in a DMP for seven yrs. Following advice we are in the midst of sorting an IVA via CCCS . However following a current budget review our potential payments have gone from £291 to £625 payable over possibly 7yrs . Also we have been told to cash in an endowment so I…
PPI Claim after I've finished my IVA, Help Please!!? Debtors wamts the money?!?!
Four years ago I took out an IVA with Pay Plan. I completed payments of my IVA in April 2012. I have had a letter from Pay Plan confirming this but they have advised me I won't received the certificate until October 2012 due to VAT reasons but that the letter confirms I have completed it. I had no missed payments or any…
IVA Help Please
Hi everyone I'm new here to this site and desperate for some help, this is a rather long and confusing story but im hoping someone will take the time to read and help me. My IVA began on the 16th of October 2007, at that time my marriage had also broke down (my ex-wife was originally on the IVA as a joint IVA however when…
IVA advice please
I've just done the cccs online tool and it has suggested that an IVA is the best way forward for us. I've asked someone to call us back about it to discuss but just wanted to gather a bit of info before hand. 1) Can they make us sell our cars? We both have to drive for work (hubby works odd hours 35 miles from home and…
IVA and retirement
in march i shall be 65 and as i work for the NHS my contract of employment comes to an end, i am only 3 years into my IVA what if they wont reemploy me??
Quick (But urgent!) IVA question!
Hi, I need help with a quick IVA question please My creditors meeting is tomorrow, and one of my creditors is the CC Mint. Owned I believe by the Bank of Scotland I have some money in a Lloyds bank account at a branch. Can anyone advise if my money is at risk at a Lloyds branch, once the IVA passes? It was never raised as…
Early closure of IVA
I have 2 bills - an IVA - of which we are scheduled to pay c98% of debt - and the mortgage! Due to redundancy and not being able to get a job paying as well as my current one, I am planning to make an offer to end the IVA sooner - anyone done this already and what % of offer has been successful? I've offered what will turn…
IVA Help
Hi everyone I was wondering if someone could help. Ive just been made redundant and finish on Tuesday. Ive been working for the same company for almost 16 years since leaving school. I will be receiving redundancy of around 5300 GBP and I will also get my 3 months notice paid up front. Will I have to pay it all into my…
IVA Review
Hi all I thought my last payment on IVA was finished today after 5 years 27/07/12 was my new start in life, but I called the company dealing with the IVA and they told me I may still owe them £3000 and over as my yearly reviews was not asking me for more moneys when my wage slips came back all on the letter was reading was…
switching banks
Does anybody know if you can switch accounts while under a DRO? I am with Natwest and fed up of the continued 'technical issues' and want to switch banks but not sure if i can and if so where to (not barclays, lloyds or HSBC). Thanks
What a difference a year makes
Yesterday my DRO ended. It's been an interesting year, full of ups and downs, but I think I'll always remember that feeling a year ago of seeing my name on the register and seeing my DRO had been accepted, and with that I slept soundly for the first time in years. It was bright and hot and sunny that day as well, just like…
IVA - Now I am free!
Hi (originally posted in the wrong forum) I wanted to post some positive news for those who are thinking about IVA or scared of the consequences of it. I had no option but to go through an IVA on my own after some personal issues. It took me years to resolve and I got a bonus from Work and a pay increase and all that money…
IVA question - Morgage
Hi everyone! I have something which is really worrying me. My partner is currently applying for Mortgage, solely in his name but I am worried that my IVA is going to have an affect on him getting one. We don't have any joint bank accounts or anything like that but my name is on the electoral register at his currently…
Helping a friend
I have a friend who is in debt - approx 7-8000. I have been helping her with bits of cash every week but am not sure whether I should be taking out a loan on her behalf to help repay the debt instead of just keeping her head above water. If so where and who is best etc and how do I keep it quiet from my other half?
Will need new car soon
Hi all Well, I am nearly in my 3rd year of my IVA and things are ok except that my car that has never broken down and has always passed its MOT first time has decided to blow a piston ring. It is running ok for now but could go at any time. Until such time, I am still driving it. I have spoken to my IP and they have given…
Dro/delay due to demand on services
Hi...can anyone advise me please.I am in the process of applying for a DRO with the assistance from National Debtline and am now waiting for an Intermediary to contact me.I have been Informed by NDL that due to high demand on thier services,there is currently a waiting period of approx' 9 weeks. I am just wondering if this…
DRO advice on excluding rent arrears being repaid
Hi, I'm trying to help my sister who has run up debts over the past year including rent, water, electric, gas, council tax which in addition to previous credit card debt and a bank loan total £13,000. This is the third time she has been in this situation in the last 10 years and some of the debt is outstanding from 6 or 7…
Insurance question post DRO
Hello All I'm currently trying to renew home insurance yet am stumbling over the 'has anyone in the household been made bankrupt?' I had a DRO so how do I answer this question?? I know DRO are a form of insolvency yet it is not actual bankrupcy as described within the 'help' part on the insurers wedsites What have others…
Need advice on DRO/IVA
I'm 19 years old when I was 18, I decided I would be a idiot and take alot of phone contracts out I was in a desperate situation and ended up in alot of trouble. I currently have 6 Defaults and 2 coming up, is it worth me getting a DRO or a IVA? Or simply sitting out these defaults for 6 years? I'm recently employed and…
IVA Question
Looking at threads, I have been advised by payplan to consider an IVA for our 50k outstanding debts, worked out that we can afford £220 per month and the IVA will be over 5 years, possibly extended by 12 months??? (sound right?) Obviously £220 over 5 is £13.2k and over 6 is £15.8k. Is this right that if accepted by my…

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IVA & DRO

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