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Big day tomorrow!
So, Tomorrow, 1st October 2015, the Debt limit for DROs goes up to £20 000 from £15 000. This is a welcome move from the Insolvency Service. Also the asset limit rises from £300 to £1000. Cars (as a separate item) remain the same value limit at £1000. DD
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IVA coming to an end please help
Hi, My IVA is due to end in December with a further 4 month after that to cover the increase in pay I had which I am all fine with but here is the thing... I recently received a PPI refund payment from one of the debts included in my IVA to the sum of £4100 or there about which basically would write off any remaining debt…
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DRO discharge certificate
My partner has been discharged from a DRO since April 2012. It shows on credit files as discharged and we have completed the credit file clean up so everything is settled etc. Can you obtain a discharge certificate like a bankrupt could?
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Obtaining credit while on DRO
Hiya I was just wondering if anyone has any experience of obtaining credit while on the DRO moratorium period? All I can find is that you have to inform the lender you have a DRO if borrowing more than £500... I assume if it is less than £500 its just down to whether you get approved or not? I only ask because O2 do a…
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BIG help needed with Payplan and Them Keeping my PPI
Hi guys. Ok so I'm going to try my best to explain it all date by date below. I had some debt issues awhile ago and was put on an IVA with Payplan. November 2008, I started the IVA with PayPlan November 2013, I completed the IVA and was given the completion certificate which I have here with me 10th September 2015, I was…
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Van Valuation For A DRO
Hi Everyone I'm currently on a Token Payment Plan after a break in employment due to illness meant I could no longer afford a DMP. I was unable to apply for a DRO as I did not meet the criteria, however from Oct I will, due to the changes taking place. I have today used Parkers online valuation tool for vans and have…
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Second thoughts about bankruptcy
Hi all, I posted on the bankruptcy forum yesterday and after considering the answers I was given I have spoke to my partner and he has said that we should go for an iva. I'm in 2 minds as I think we would qualify for an DRO, the problem is the fact that HMRC is taking off £60 a week for an overpayment, and if the DRO gets…
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Trying to get a DRO
Hello all, I am trying to get a DRO, but I have a car on a HP (Conditional Sale Agreement). I rang the finance company and the early repayment figure is around £3000 My wife and I really love the car, and really want to keep it. I have rung stapchange and they have said that you cannot have a DRO if you have a car on HP.…
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TC overpayment include in DRO?
I am paying back a few thousand in overpaid tax credits. I also have about £10K in other debts, and I meet all the other qualifiactions to qualify for a DRO. My question is please, how can I get all the details about my total amount overpaid from Tax Credits? It does not show up on my credit file. I have written to Tax…
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DRO and student loan payments
Hello I'm thinking of applying for a dro, but before I spend £90 I want to make sure everything is fine first. A bit of background first; I'm currently in under £10000 worth of debt with various credit cards, loans, and overdraft. I'm in my overdraft my the maximum being £1500 and also owe my partner money as he has took…
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DRO October h
Hi, I'm in discussion on the other boards about BR but need advice for my OH regarding DRO. Basically my OH would prefer BR over DRO yet she's got £17500 of debts which is over the DRO bracket at the moment but of from the 1st of October this year they're putting it up to £20,000. Without me sounding silly would it be best…
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Paying back IVA after death
Hi, I am currently sorting out my dads finances following his death (Nov last year). My dad had an IVA and although I do not have the original paperwork and do not have in writing the figures involved, I have been told by my brother - who was very close to my dad - that the original debt was in the region of £6k. Our…
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iva & student loan
Hi My iva is now complete, though in the last year i found a government document that said pre 1998 mortgage style student loans can be included within an iva. So i sent this to the IP who duly replied (after several chase emails) stating the the student loan is now included within the agreement. Sounds good, i chased for…
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Lookin like an IVA for me
Hi... I am complely new to all of this and I'm just starting to get my head around what will be happening over the coming months and years. My situation is that I live with my husband, 2 children and our dog. I have built up a massive £53000 worth of debt. Don't ask me over how long as I couldn't really say. It seems I've…
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IVA with a CCJ
In 2009 a CCJ was raised against me and a year later I entered into an IVA which included the account in the CCJ. In 2014 I concluded the IVA by making a full and final offer which was accepted 100% Since this the company who took out the CCJ have refused to close this despite the fact that I have sent them the Certificate…
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Please help bank saying i have a IVA when i dont
Hello, Can someone please advise me i could throw up with worry. I applied to Barclays for my old ppi from 1996 for a loan when i was in the forces. Today i recieve a letter telling me im due a refund however as im on a Iva they need to speak to a trustee? I have never even heard of a iva my credit record is perfect ive no…
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Moving out with an IVA
Hello, basically I'm 21 years old and I got into a lot of mess over the last few years, managing to end up with around £20k worth of debt. It got to the point where I thought enough is enough and I got myself an IVA because the stress of not being able to afford to pay anything was getting on top of me. I have started…
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Mortgage after IVA
Evening All, I'm after some advice on getting a mortgage after finishing my IVA. My IVA started in Dec 2009 and i finished early thanks to a full and final offer being accepted. I received a certificate of completion in Feb 2014. I understand that its 6 years from the start before the defaults "drop off". So in this…
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IVA and final year equity payments
Hi all, I have just completed a fifth year of my IVA. The expected amount to be paid back in the initial Chairmans report was 23p in the pound, but due to my improvements in job and pay I ended paying in 32p in the pound. I am now entering a sixth year of payments, after equity discussions etc. My IVA provider have been…