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IVA & DRO

Archives for August 2012

Joint Accounts and DRO
I was wondering if someone could advise how joint accounts are affected when applying for a DRO. A large proportion of my debt is with HSBC which is also the bank me and my partner have a joint account with for household bills etc.. This account has no debt/overdraft and is used to pay rent etc from. Does this account need…
Query on discharging an IVA
I have three pension policies, one I pay into and two dormant. I have one with just over 10k in that been dormant since 2005. It would pay very little at retirement and as my main one is going to be quite sufficient ive just left it sat there. I am currently in an IVA and just started year 3. The 10k in the pension would…
Iva and credit file
Hi all, I have finished my IVA that I started in July 2006 and had all my defaults and the IVA removed off my credit file (lots of calls and emails). I was allowed to take a credit card out in June while I was waiting for my completion notice to come through but the thing is my credit is still classed as poor even with the…
Does Winter Fuel Allowance count as an income?
Hi, Does the Winter Fuel Allowance count as an income when working out income & expenditure for a debt relief order? Thanks! Bartels
DRO help, pleaseee!
Hi all, I am currently subject to a DRO and have a question I would like some advice on please. Currently I am unemployed and recieving JSA and Housing benefit that totals £594 a month, after living expenses I have about £30 disposable left over. I have a friend who may be able to get me part time temporary work at a…
DRO and car insurance
How does a DRO affect your car insurance if you pay monthly
Existing bank accounts - DRO
What happens regarding your existing bank account if you apply for a DRO? Do you keep it or does it get closed? I have no debt with the bank.
IVA Full and final settlement query please help
We have been told that, according to the accounts for my partners sole trader business, it will be almost impossible for an IVA to be accepted and we are probably looking at bankrupcy. However, they suggested full and final if we could raise the money from family etc. We are unable to do this, however we are due a large…
Husband in IVA and Redudancy Money
Quick question. My husband only is in an IVA with Payplan. Im hoping to take voluntary redundancy. Will they (Payplan) be able to touch my money? Many thanks.
New IVA existing Attachment of earnings order
Hi .... Please can someone advise me? My husband and I are just starting an IVA to clear off 47k of unsecured debts including a 38k shortfall from the sale of our repossessed property 2years ago. Im the only wage earner in the house as my husband cares for our 4yr old and we pay £150 a month on our IVA. Does anyone know if…
Full and FInal Settlements
I'm just about to smooch into year 3 of my IVA. I pay 300 quid a month so reckon I will pay about 10,800 back in the next 3 years (25% of my original debt) I was wondering what sort of figures people have managed to get accepted as a full and final say at start year 3 or year 4 of the IVA? I have a few options I could…
When to apply??
Hi I completed my IVA in April 2011, due to drop off my credit file 22 Nov 2012. Would I be safe applying for a Vanquis card now to start making my credit file looking good? TIA
Do i have to include partners income if i apply for a DRO?
Hi, i hope someone can help and this question hasn't been asked a lot already as i cant find the answer! After looking online and completing some question air things it looks as though a DRO is an option for me in my current financial situation, however i have in the last week moved in with my boyfriend and i am wondering…
DRO and Civil Court
Hi i am just about to pay the last payment for my debt relief order application. I have just currently had a bad break up with a partner who is threatening to take me to civil court over a coffee table and some other low value furniture. Would i be exempt from civil action being taken against me because of the debt relief…
Household bills in a DRO
I've been told living expenses in a joint budget need to be shared pro rata according to income. But then I read on here that an existing arrangement probably won't be challenged unless it's obviously unreasonable. Not sure what that would mean for me though. I'm facing insolvency, but my wife's career is going much better…
Accident compensation in IVA
Hi, I am a newby at posting, I have been in an IVA for 18 months and am wondering if anyone can give me advice please. I had a rear end shunt on the motorway this week, have a very sore lower back, but I'm wondering if it is even worth entering into an injury claim. Would any compensation I get have to be paid to the IVA…
Bank accounts for DRO
I've read elsewhere that only Barclays and the Co-Op allow undischarged bankrupts to have an account, but that most banks don't mind a DRO unless you defaulted on a debt to them. Anyone know if that's still the case, and if there are any banks best avoided before a DRO application? Would it be better to open a new basic…
Getting a contract mobile just before DRO
My phone handset is damaged and will need replaced at some point, but I am quite likely to apply for a DRO by Christmas this year. Would it be dishonest to accept a contract upgrade in mid-November, when my current one expires? At current prices, I could get the new handset I'd like for £20 up front. The monthly bill would…
Planning for trouble
I have a temporary contract which is coming to an end in October, and my line of work seems to have totally dried up in my area. We can't move because my wife's career is going really well, but I'm a bit stuck. I was getting to grips with my debt, but now I think I'll have to plan for going bust. Of course I'm not going to…
Including tax underpayment in DRO
I was on the wrong tax code last year because I had two jobs, and I owe £99. As I understand it, I can choose to pay that as a lump sum by the end of January 2013, or I can have my PAYE tax code for 2013-14 adjusted to collect it gradually from my earnings. The thing is, I might need to apply for a debt relief order by the…

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IVA & DRO

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