-
iva's after 5 years, is the debt written of? or they creditors could still ask for it
5 years after IVA, is the debt really written of? or they creditors could still ask for ££ After the 5 years a IVA has been done, is the debt really written off? or they could 'restart' the original cycle and could be required to repay that bigger monthly debt you were paying at the start? -which is just a 'suspended' debt…
-
CAP say our joint income is too high for DRO?
following advice on here DH has decided to go for a DRO as he has NO income. I am at uni full time and we live off my bursary (NHS degree) and the tax credits/child benefit. the only thing in DH name is the joint tax credits which is addressed to us both and we get the full element of CTC only- no WTC. CAP say that as we…
-
CC+ Loan + OD with same bank = 3 creditors? or 1 ?
When going into an IVA, If you have a credit card debt, loan, and overdraft with one bank? Llyds Credit card = £2000 Llyds Overdraft = £2000 LLyds Loan = £10,000Llyds Debt - £14,000 in the terms of 75% of creditors must say YES'.. then...then are them above 3 considered as 1 creditor? or 3 separate creditors ? There are…
-
What influences a creditors decision to say YES
For your IP approaching creditors you have debt with, what influences their decision to say yes to it? (lets assume you can provide an income/expenditure form is fine) what 3-4 factors do they look at? which can make them 'reject' your IVA? and does each lender see the 'decision' another lender has made, in the IVA ? (eg,…
-
why do creditors chose IVAs? to lose their money?
Howcome Creditors accept people to go into IVAs, when the money is written off? Something to do with a better option than bankruptcy? which they would NOT prefer the person to go into? why is bankruptcy worse ? from the creditors' point of view ?
-
Whats the max % debt an IVA can write off? (80%?-I know depends on Expenditure etc)
I know the % of debt an IVA can write of depends on your income/expenditure and what can you afford. a) But what has the max cases of % been, of % debt written off after the 5 years of the IVA ? 75%? 80%? 90% even ? b) What has been the highest % of debt written off(even rare cases)...which again I know depends on factors…
-
Risks of chosing the wrong IP Practitioner ?
What would be the risks of chosing the wrong IP Practitioner? (one which says they are certified but they actually are not? - how can you tell ? and what would be the 2-3 worse cases 'things' that would happened if you picked the wrong one ? Examples (eg they would charge a higher monthly fee? -eat up most of it) or the…
-
How to trust a Iva IP Practitioner? (creditable) ?
when searching for an IVA specialist, how can you trust one (to deal with your IVA from the start to the end) how can you trust one, and check that they are certified?
-
Rebuilding good credit after IVA
Hello, I have recently completed my IVA and my next step is saving up a deposit to buy my own place so I wanted to know the best ways to rebuild a good credit report to help increase my chances of getting a mortgage in the future please? I have read a few post which have confused me slightly with regards to credit cards...…
-
Getting a Mortgage After IVA
Hello, I wonder if anyone can help with some advice. My Husband's parents want to give us 20K towards the deposit on a house. Amazing! We are going to use 4K of this to settle my IVA for good, and then move back in with my parents for a year or so in order to save another 20k or more if we possibly can, so we have at least…
-
Debt Free. Old statements. Shred them?
Hi there I have now been debt-free for just over two years and at the time I received letters from all the companies I had debts with confirming the debts were settled. I'm now wondering if it is safe to shred all CCCS statements, bank statements, credit card statements and debt letters as I've not had any contact with the…
-
CoOp Putting the Boot Into Insolvent Customers
Apologies, I know someone else posted of similar concerns a while back and I was somewhat dismissive. Received a letter today (as I am sure all customers have/will do soon), with Co-Op's new t'c & c's which will take effect from 16th September (applies to ALL accounts - including Cashminder). Page 4 of the leaflet adds a…
-
can anyone help me regarding DRO advice please
Hello To cut a long story short i have applied for a DRO through stepchange im at my final steps of paying the £90 fee to send it off but i have one queiry that they did not know the answer to, basicly as one of my debts is an £5000 overdraft with halifax i had to open another bank elesewhere before the DRO gets processed…
-
PPI after IVA completion?
I completed my IVA in September and recieved my certificate a few months ago. Would I be able to claim back my PPI or would the money go to the creditors? Unsure if it is worth attempting or not. Thanks in advance.
-
DRO with more than 15K?
I may need to go for a DRO. I wish my debts were less than £15000, if I can get them down under that amount I could do it. Bankruptcy seems to big a deal I wish I could do a DRO with more than 15K debt. But 15 is the limit, but are their exceptions? Can I just get relief on 15K and slowly pay off the rest? Or not include a…
-
Can they do this to people
Hi Long sad story but the top and tail is I feel behind in my iva and was petition for bankruptcy I was told I need to pay all outstanding monthly fees totally £5280(thats till end of term sept 2014) plus £2000 legal fees then £5000 supervisors fees but they would except 12.5k today I offered to pay the 12.5k was told its…
-
'shared cars' paid debts and DRO help - long post sorry
Hello all, i am finally preparing to apply for a DRO, i had a few (complex?) issues i needed to sort first. I do have a few concerns that i would like opinions on before i fill all the stepchange documents in. After you have read the car saga you will realise why its easier to type it here than talk about it over the…
-
cash (In a safe) -while starting an IVA? - is Cash included?
[FONT=Verdana, Arial, Helvetica]When considering an IVA, and the bank balances don't have much £ in, a) how does cash in a safe get linked to the IVA? (this cash is used for expenditure, as cash - food, petrol etc etc) b) Can the creditors ask for this cash to be used towards the IVA? (and pay in towards it) ? or they…
-
Debts to a IVA, What happens to Credit cards with £0 balance ?
With Debts in Credit cards, turning into an IVA Credit cards with 0 Balance ? (=0 debt) what happens to them? Do they 1) get included into the IVA 2) If Not....do those Credit card with 0 balance find out about the IVA? (get contacted about the IVA by the IP) ? and what about credit cards which were closed 5 months ago?…
-
IVA v PPI
We are currently in a IVA and have just been awarded some PPI from a loan (firstplus) which was not included in our IVA? does this need to be paid into our IVA or our we able to keep it? The cheque is being sent straight to our IP. Thanks for any help. Btw if we need to get a new fridge would we be able to claim some for…
