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IVA & DRO

Archives for November 2012

About to enter into an iva
Hi, I'm new to this forum, just to explain my situation, me and my husband have around £45,000 unsecured debt, we were struggling to make minimum payments so after discussion with citizens advice we have decided the IVA route is best way to go. We are waiting for IVA company to contact us. What I'd like to know is does…
Advice required as I have run up massive debt
Hi -I have just totalled up all my debt and it has come to £95k ouch! I know that it has grown and grown and grown and now it has got so out of control.. On top of this I have a mortgage of £149k and a house which is worth about £260k I know it sounds stupid but because I have had the minimum repayments covered by DDebit…
Help with repossesion
Details I have an 18,000 Personal Guarantee from a failed business(overdraft) and Lloyds Tsb have a legal charge I have been to County Court and the Judge as given us until the 20th January to find the money I have over 100,000 in equity in our house and i have tried to borrow against it but because i am in an IVA( using…
Credit file clean up
Hello all. Well after 6 1/2 years we finally received our completion certificates which was very welcome end to the IVA saga. With these in hand I set about signing up to Experian and Equifax to ensure my credit file was up to date, plus see where I am with the credit score just for kicks and giggles;) Well, Experian was a…
equifax credit report
Hi all, I dont know if im in the right place here but i finished a DRO in aug this year so sent off for my credit report from Equifax i still have some things on there that says default but the date that they have defaulted is later than the DRO, i phoned them last night and she said that on her system is settled and told…
Few quick IVA Questions
If you enter into an IVA, do your payments into it always have to be on a monthly basis or is there any flexibility? E.g. if you are paid weekly, fortnightly or 4-Weekly (lunar monthly) can payments to the IVA be done in line with your pay dates? Are payments done by direct debit or can they be done by standing order? When…
IVA and Divorce
Hi, My Wife and I have decided that it's time for us to seperate :( We have started divorce proceedings but it will happen eventually. I'm current a year and a half into an IVA (My name only) and we live in a mortgaged house (in both names). At current house prices its very possible the house could be in negative equity. I…
Difficulty updating credit record
Hi I had an IVA completed in May 2012 but Tescos, Cabot Financial and Barclaycard are refusing to acknowledge it. I have mailed it to them twice, and then disputed my record with Callcredit. Callcredit have written to me to say that they cannot amend my record because these companies say money is still owing. What can I…
I wish I could stop the telephone calls!
So I wrote to all my creditors 2 1/2 weeks ago, explaining I was no longer employed, not able to meet my financial commitments and seeking help from the National Debtline. I asked (politely!) if they would refrain from contacting me by phone and instead write to me. Since then I have sent them another letter to tell them…
IVA vs DMP.....Please help Im going demented!
I know no-one will ever tell me what I should do....but I really wish they would! I feel like I am going crazy with all sorts going on in my head. I cant seem to make a decision. Here is my story and any comments would be welcome. I started a DMP with Stepchange earlier this year, DMP-£400 = DFD 8 years time......Great.…
Bank accounts during an IVA
Hi I'm currently in the process of switching from a DMP to an IVA and need some advice regarding bank accounts during an IVA. I have a business account with HSBC and a personal account with Natwest, both have no overdraft facilities, however the Natwest account has a debit card whereas the HSBC account has a cash card. I…
IVA F&F question!
Hello there, I am looking for a little help I have an IVA processed by the CCCS (who were wonderful) i'm 6 months in. However there is a possibility redundancy may be looming next year (I'd receive no redundancy) However my parents have suggested offering a sum so I can offer full and final. Can you give me an idea of what…
Clearing my iva early
I am 2 years into an iva agreement paying a substantial amount each month, I recently had a statement and less than25% of my payments have been used to clear the debt!!!! My parents have recently took retirement and have fantastic lump sum settlements and want to loan me the money to clear my iva. Do I have to do it…
Tips for MOT & Christmas savings
Hello, I just wondered how everyone else managed on an IVA with payments that aren't by monthly Direct Debit e.g MOT on your car. My MOT is due next month and money has been very tight this year. I have enough for the MOT test and a little aside as I know I need new brake pads. Anything other than that needed and I'll be…
IVA troubles - don't know who to turn to
I am so stressed and hope that someone can shed some light so i can at least get some sleep tonight. I am 4 years into a 5 year IVA. My IP case officier has trying to get in touch with me [payplan] as i have two outstanding payments. The only issue with this is they stop taking calls at 5pm and granted they can ring you…
How do I offer a token payment without a cheque book?
Hey guys Ok so im a little further down the line now... My IVA is in the review stage with Grant Thornton, they have all my details. New bank account with co-op set up, wages paid in and direct debits changed. Now just waiting for grant thornton to approach my creditors. panicking on approval _pale_ If its not approved god…
IVA help
My sister is in a lot of financial difficulty. I have been giving her about £600 a month to help her make her minimum payments, but I can't keep doing it, so we talked about it and she is now talking to payplan about an IVA. I'm hoping somebody will be able to answer some questions: 1. She has a bit of a confusing…
Have IVA rules changed?
I was just wondering if the IVA rules have changed and if so when? I was under the impression that you had to have a minimum of £200 disposable income to put into the IVA in order to be accepted. Is this not the case anymore? Also could anyone give me any advice on good/bad points of an IVA? I am currently in a DMP and…
CAB refuse DRO.
The truth is suspicious and a white lie would IMO have been better. I went to see C.A.B and I ticked all the boxes for acceptance of a DRO. I forgot at interview to inform the advisor about my daughters car being registered to me, so a few days later via e-mail I told them the truth. The truth is that my daughters previous…
IVA accepted yesterday - current account probs?
Wife had an IVA accepted yesterday - meeting was earlier than expected. She has a Lloyds overdraft and a Barclays account but Barclaycard debts. She tried to open a Co-op basic account nearly 3 weeks ago, and handed in her details to the bank in person, but apparently there has been a problems, and they have no record of…

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