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IVA & DRO

Archives for June 2013

Change at the 11th hour when my DRO is due to end
If there was an increase in wages which is set to make life way more bearable then it ever was, actually has ever been, can I just take my DRO back (ends in 2 weeks) yeah I know I plan new job very well :o thats life!!! I've done it! causing lots of controversy along the way no doubt I've no idea where my debts are at,…
Advice about Debt Relief Order please
Hi this is my first post here. Someone said ask on moneysavingexpert. So here goes. I have been advised by a debt charity to apply for a Debt Relief Order. My debts are just above £15000 so I know some of them will not be included. But if £15000 of debt is relieved it would be so fantastic. I have a few doubts if I…
SOA Advice Please
Would anybody be willing to look at an SOA I have put together please? It's not complete as there are some things I'm not sure about so would be grateful for some advice. Thank you
F&F payment..
We have finally sorted out the full and final settlement figure and details of our IVA (thankyou to those who responded on my last post) However our IP has requested that the settlement figure is put into their holding account before the 'meeting' is arranged with the creditors so that they complete quickly (if accepted)…
Payplan - property valuation at end of IVA
Just a quick question for anyone who has experience with Payplan - 6 months before the end of my IVA I am supposed to get my property valued, - I assume that this will have to be a "real" valuation by an EA rather than a figure from Zoopla? (which was used at the start of the IVA). Are you supposed to get a valuation for a…
Coop
Coop have just sent out their latest ammendments to conditions required to keep a bank acount. The main change coming in 16th September is that if you have an iva or bankrupt they can close your acount inediately without any grace as a serious breach of their rules. How can a new ammendment be a serious breach if it was ok…
IVA... Frustrated a little annoyed
Hi We have just completed our 3rd year of a 6 year IVA, there were 2 'modifications' placed in order for the IVA to be accepted one being that I return to work once my youngest reaches school age and the other that it was a 6 year IVA rather than the usual 5, obviously we accepted this and signed and are now 3 years in. My…
DRO objection raised
changed mind, sorry
DRO and off-setting.
Okay so im getting lots of different information from everyone and everywhere I look. I have read posts on here by CCCS advisors and such stating that if I had a DRO and the moratorium period has expired that all the debts on the order are "discharged/wiped/cancelled/other words meaning the same. So if my debt is…
IVA and Car finance
We are currently entering our third year of an IVA, which has been going ok, but come September and again in January, both myself and my wife's cars are liable for the final balloon payment. The problem is, as we are under an IVA, finance is impossible or implausible. Our plan is with PayPlan, who advised that we may seek…
IVA and Releasing Equity in last 6 mths
Hi Everyone, I hope someone can answer this question please... I am in my last six months of my IVA and have been asked to get a valuation on my property with a view to releasing any equity there may be. My IVA agreement states: 'If that valuation shows that 85% of my interest inthe property (after deducting my share of…
Complete Guide to Getting a DRO (Start to Finish) :)
Hopefully a Moderator can make this sticky or at least with the comments it should remain quite high for fellow MSE users in the same boat to read. Upon using this site my credit knowledge has spiked and I feel for the first time in my life, I understand how credit works to your advantage and know first-hand how it can…
DRO + Tax Credits Underpayment
Hi all My wife is currently 2 months into her DRO and we have just received our Tax Credits Annual Review. We ended up earning a lot less than the figure our tax credit entitlement was calculated on which leads me to believe that we may receive some kind of payment from them. So my questions are: 1. How will any payments…
IVA- Completed
Hi people IVA completed (smiley face) But after 5 Years and after repaying 100% of the monies owed! And having a completion certificate stating that no Interest is owed. I've had a letter from Welcome finance demanding I now pay them the remaining £1500 I owe them? After a quick look into things I see on my credit file…
IVA Final Settlement Question
Hi, I have 9 more months left of my IVA. This equates to about £3600. I am close to the end but every month is a struggle. Last week, I was knocked of my cycle by a car and as a result am getting £2250 for compensation. I was hoping to offer this as a final settlement for the IVA but when speaking to my case officer she…
Iva or debt management?
Hi , I'm just after some advice. My wife and I have 7k of unsecured debt - coupled in with childcare and car repairs , the monthly repayments are crippling us. We have no assets other than a car we rely on for work. We have sought advice from step change and have been advised that an IVA is the best way forward. However,…
Eligible debt for DRO
Hello, since the recent collapse of my business I've been struggling with debt, to the point where I could no longer afford my rent. I've looking at arranging an IVA as my debts are fairly substantial. However I'm now starting to wonder if a DRO might be a better choice as I'm not a homeowner and have no assets to protect.…
Iva breach and help
Hi,I've only recently started my Iva. They've contacted me to say I'm in breach because I hadn't told them about a loan.the problem is they asked me for all my personal debt which I've done.this loan they are on about was for my wife's business and although I took out the loan in my name all the Money from it went into the…
Debt relief order query
Hi all, I'm after some advice if anyone has some going spare! Basically, I am just £90 away from my dro application being processed. I've done all the paperwork etc, given balances and have signed everything. The only thing left now is to pay the fee and cross my fingers it gets approved. Before I started the dro…
Noddle Rating
Afternoon all, Just a quickie...do any of you ev IVAers have a better credit rating than 1 with noddle?...I am obviously ex IVA and currently showing a 1 but have cleared all other defaults....just curious if you can better that before the 6 years when it falls off my file?

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IVA & DRO

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