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DRO or bankruptcy options?
My husband owes approx £7000 I owe approx £11000 I work and earn circa £35000(started 11 months ago after uni for 6 years) My husband does not work and if he ever does will only be low paid job(no qualifications prev worked in call centre supermarkets warehouses etc) I am paying off debts Would he be eligable to apply for…
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Paypal, funds overseas and DRO
Hi it's looking likely that my wife will end up having to go down the DRO route. What I am concerned about is what will happen to her paypal account -- which is in USD and based in the US and also our joint US bank account, the amount in the account is minimal only a few dollars. Will the OR send information to that bank?…
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DMP or DRO??
myself and DH are on a DMP with CAP. recently we were advised that as I am the person earning and of the 15, 390 debt that we have approx 10,000 of this is DH's it would be better for him to apply for a DRO?? He has no income except our joint Child tax credits as the WTC is mine as Im the earner and the wages are mine as…
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Value of car for DRO?
I think my car is worth over £1000 at the moment, but I want to apply for a DRO soon and it is the only thing holding me back. I have a Mercedes B-class over 100K on the clock and about 10yrs old now. Its in good condition but hard to value it. If I go for a DRO and put down it is worth less than £1000 what will happen if…
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Santander CC Debt turned to IVA, Will Santander Current Bank accounts FREEZE ?
[FONT=Verdana, Arial, Helvetica]If there is debt on a Santander Credit card, which will be turned into the IVA, and the person has santander current 'bank accounts', then once the santander credit card debt it turned to the IVA, will the santander current accounts be frozen? (they have 0 balance in, No overdraft). or they…
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After Iva's,you have a 'chunk' of money saved,do you have to show where it get spent?
After your IVA has been sorted, and you are paying reduced payments (from a high amount, to a low amount), you will not be outputting any more money to the huge monthly debt. so this money you will NOT be using for debt will be used towards food, leisure, transport etc. - in the period years 1-5 of the IVA, do you have to…
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When to apply for DRO?
I may be having my first ever CCJ soon. I am unable to keep up with repayments due to unforseen family and work problems. They gave me another 30days but that has gone and now seriously saying they will bring a CCJ against me unless I can make payments again. My situation is now Im out of work and not even enough benefits…
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IVA paid off a year ago, Grant Thornton won't close it
I have an IVA with Grant Thornton. It was previoulsy with one of the other bloodsuckers, but it was sold to them a couple of years ago. I made my final IVA payment in April 2012. It had already been extended by around six months as I had been forced to reduce my payments when my circumstances changed. I was delighted to…
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IVA Confused?- income / Expenditure calculation confusion?
[FONT=Verdana, Arial, Helvetica]Monthly Income is £1300 Monthly Debt going out is £1000 (credit card minimum payments, added up) (£1300 - £1000 = £300) So they have £300 spare a month of disposable income, (for use on food, petrol, rent, clothes, leisure, etc) Then the income/expenditure calculation is, Everything in…
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IVA to DRO is it at all possible?
hello, I haven't been able to find if this question has been asked before but here goes. I'm two years in to my iva and my circumstances have changed to the point were I am unable to fulfil my iva payments at all. My original debt was for £14,300. looking back I feel that the company I dealt with pushed me down the route…
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overtime
Hi, i have been paid overtime for june and i will be paid overtime again in july. I have notified my supervisor of this. The overtime will only last until the end of july at the latest, so i am wondering if it seems reasonable to suggest that we wait until the overtime has finished before increasing my monthly payments…
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Due to finish my IVA in 2 months....what happens?!?
Hello all, I have 2 more payments on my IVA and I just wondered what the procedure was. Is it really as simple as getting your certificate and then you're sorted?!? I've been reading about people expecting to release equity in their property at the end of the IVA to make further payments but I live in rented accommodation…
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Using cards directly prior to DRO application
Hey all, I'm just about to apply for DRO on advice of StepChange, my question is whether or not it's still okay to use my credit card before I've sent the DRO off? I need some food shopping and a uniform for my student placement, and will need to use my actual cash for the £90 payment. Will it be 'frowned upon' for my…
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debt relief order advice asap
Could anyone tell me if there are any restrictions on applying for a DRO if you have previously (4 years ago approx ) declared bankruptcy?
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Should we sign for an IVA? Please help!!!
Hi. Me and my husband are in total about 30,000 in debt. We have been plodding away for years trying to gain control but the monthly payments are a real struggle now. He doesn't want to enter an IVA because he thinks a large amount of equity will be taken off us at the end of the term. I understand some will be. There is…
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about to sign an iva...feeling unsure
My husband and I are one step away from signing a proposal for an IVA.we have previously been in a debt management plan but have seen the debt decrease very little. I don't know if it is just nerves or not but beginning to feel really scared.i know this is a legal proposal and I dnt want to get anything wrong My husband…
