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IVA & DRO

Archives for April 2014

Advice appreciated! IVA/DMP/refund issue
Hi all, First time poster here and hoping for some advice/guidance really. Basically I am 3yrs into an IVA via Payplan. Prior to this for 2yrs I was in a debt management plan. On Monday I received an email from the DMP part of Payplan asking I get in touch as they had some money to refund me. Somewhat surprised I phoned…
DRO including all debts
Hi. I have been told a DRO is my best option. I am getting everything together to apply for a DRO. Its hard to include all debts. Im sure I had a couple of mobile phone things pursuing me. Not heard from any of them in a while. I have no letters or contact info. I have all my other debts down to under £10K so there is room…
post IVA pro-forma
I'm just trying to clear up the wrong info on credit files and wish to send a letter in to the debtors asking them to amend their dates/info they hold and I wondered if there was a 'template' on the forum somewhere I could use please? thankyou
How would your IP know
if you got credit on an IVA if you never failed with your payments and always paid everything you had to on the IVA? I doubt they check your credit file as long as you pay then they are happy. This is just an hypothetical question not something I am going to do as I have notice a few people say they have credit cards and…
IVA/PPI Dilemma
Hi, I have a dilemma and could do with some sound advice. I'm currently in an IVA (less than two years to go!) and I have been using a company to chase outstanding PPI policies. One policy has paid out over £6k (yay I hear you shout) Under the rules of the IVA this money should go into the IVA pot to be split between my…
New Mortgage Lending Criteria: Impact on Equity release
Just when I was starting to worry that mortgage criteria may relax with the improving economy, and that more IVA customers may have to release equity via secured loan etc: Seen a lot of press today regarding the new (much tougher) mortgage lending criteria. Anyone have any idea how that will impact IVA customers come…
Having a DRO and moving country?
Hi i'm not sure i'm in the correct thread here so apologise if so, So I have had my DRO for over a year now (Close to 14 Months) and I assume all my debts have been cleared as my situation hasn't changed in that time, I have been looking for work for the past year and I have finally been offered a job but it's in the…
Possible IVA and so confused
The more I read the more confused I am!!! Through burying my head in the sand for the last year I have debts of 24000. Unfortunately 5 years ago I was asked to be guarantor on my dd's mortgage but we were advised at the time that I should be joint mortgagee with a 1% share in the property. For whatever reason we kept no…
DRO Coming To An End
Hi My DRO started on the 1st May 2013 and as such is due to end on the 1st May 2014 so just over a week away! Woo hoo My plan from the 1st May is to check my credit report and request that anything showing default is changed to Satisfied/Settled. However, I've noticed the letter to do this on the sticky mentions sending…
Applying for an IVA in the end!
Talked to an IP today to see what other choices I had other then the DMP that the CAB advisor recommended. I'm applying for a IVA! The other choice was bankruptcy. Paying £750 each month out of my £883 a month official income couldn't continue.
About to request a DRO.
Hi. Thought I'd revisit this forum after many years away from it (about 7 I think) to help me take the plunge with a DRO. I have been slowly shaving away a £13,000 debt to a variety of creditors via StepChange for about 6 years. I'm down to £10,000 now. I've been offered a DRO which I am very relieved about but in the last…
Trust Deed Scotland
Hi there, new member here. I have a scottish trust deed. It is due to end this month. I have been unable to pay the last three months though. But I have paid 600 for every other month for past three years. This was also to cover arrears for two years prior to that. So it's been ongoing for 5 years. My trustee says its up…
Secured loan etc
In the last year of an iva we have to try and release monies available within the 85% LTV agreement. 1). Where does one go to get a home valuation? Or is that an automatic part of the application for a secured loan. Especially one independent of a loan provider, such that it's realistic if not on the cautious side, and…
IVA and Pregnancy
Hi My husband got himself into £28,000 worth of debt without my knowing. He told me last August and we managed to set up an IVA in December. I've just found out that I'm pregnant. As our living costs will be increased is there any chance of the IVA payment being re-assessed by the creditors?? We are due the yearly IVA…
Question about DRO and credit accounts that are not part of financial problem
I'm thinking of getting a DRO. I owe £9.900 on one card with 15.9% interest, paying £250 each month, £3000 on a catalogue with 25.9% interest, paying £350 a month and £2050 overdraft @ 18.9% interest. It's these ones that are leaving me struggling! I also have another credit card with a much lower limit and a low interest…
iva about to begin hopefully
my nominee/ip is in the process of writing to me with a letter of engagement then a creditors meeting will be held etc etc . so hopefully it will be up and running asap however i need some advice on the following i have 4 payday loans which will be included in my iva three which i defferred a week ago to next month and one…
IVA finished need credit card
Hi All, my IVA will be finished at the end of this month, I would like to apply for a credit card to improve my credit score, is there a thread where I can see success stories in getting a credit card ( I am sure I remember seeing one on here) :o Also, does anyone know if it is possible to pay money into a credit card ie…
quick question
Am looking at setting up an IVA have spoke to a family friend who is an IP at local solicitors who went through it over the phone briefly , i am meeting her tomorrow for a more thorough discussion. Is it common practice that although i make a payment every month the IP doesnt actually pay my creditors every month sometimes…
Questions about an IVA
This might have been answered elsewhere but here goes. I am looking into switching from a DMP to an IVA and wanted to know if I do the IVA, after year 6 will it be possible to get a mortgage, or is it still visible, I have read conflicting stories and its driving me crazy. I currently have £31,000 pounds of debt in a DMP…
Better loan rate after IVA paid, but still on credit file?
Hi All, I started an IVA in 2009, in mid 2011, my ex took out a loan and I made a full offer and cleared the IVA. Being under the impression this would disappear in May this year, as it was a five year IVA, I was looking then to get a loan, and fully pay off my ex, as the rate she got the money for me wasn't great. Anyway,…

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IVA & DRO

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