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IVA & DRO

Archives for December 2016

Failed IVA
I had an IVA which failed a couple of years ago due to the fact we couldn't raise the lump sum required in the final year. Obviously we still owe money and have had to make the decision to sell our house so we can pay off the debts, most of which have been sold off to debt collection companies. Is there an average % figure…
DRO and Matched Betting
I have been looking into matched betting and was wondering how proceeds from gambling would effect a DRO. I know it is not taxable, but is it considered income? Would a DRO be revoked if I earned more than £50 a month?
It's over!
I just have to share - after 6 looooong years our final payment to our IVA was made on Dec 1st 2016 - it's over! Finally! Could not be more happy. We do have to fill out some form of PPI forms which im sure we have already done so i need to look into that - but roll on the day we get our certificate! I wouldn't wish the…
Dro / iva?
Who do I need to contact to find out if I can qualify for one? Stepchange have suggested to me a DMP, but it looks like its going to last over 5 years, and I'd like to know more about whether we would qualify for alternatives. We have no assets, not homeowners etc, so its an avenue I'd like to look at.
Proposed Variation & Deed of Assignment
Hi, Looking for a bit of advice, I have three payments left of my IVA however I received a letter from Debt Free Direct asking me to agree/disagree to a proposed variation and also sign a Deed of Assignment in relation to PPI's. I really don't understand the terminology they are using. Do I agree to these and sign as I…
Finishing an IVA - Can we now buy?
In August 2017 my wife and I complete our IVA. At the time of our IVA start we were shouldering around £20k of unsecured debt and had a joint annual income of around £27k. In 2013 we surrended our mortgage and had our home of 13 years repossessed. We werent in arrears but we actually wrote to the lender and informed them…
Will my IVA be Cancelled
Hello all. I currently have an IVA with Harrington Brookes. I have just completed 2 years. I have just submitted all my bank statements etc, and explained a few things on there. Basically, every so often, my ex partner has paid some money into my bank account, to help out with child care etc, and for any bills that have…
Is a DRO right for me?
Sorry for the long post. For the first time in my life I'm trying to become debt free so PLEASE do not judge. I've thought about a DBO since January but never looked in to it but I've now read about the DRO quite intensively the last week and a half but I still need some advice/guidance/nudge before I call the National…
DRO and Budget Form
Hi all, I am just about to send my DRO application but I have a question regarding the budget sheet. The intermediary have said my partners wages need to be included. I don't work and have been signed off sick through long term illness. All the debts are from credit cards before I met my partner. I'm not quite sure why she…
DRO & Solicitors
Hi hope I've posted this in the correct place.. Long story tried to cut short. My mothet put in a claim nearly 3 years ago after a fall leading to a fractured skull and other things. The claim was coming to an end and the solicitor was about to inform the defendant that she would accept X amount but unfortunately my mother…
IVA from first marriage debts
So I have an IVA currently in place and have been for 3 years. My ex husband went bankrupt quite soon after divorce so everything was then my responsibility. I have another 3 years to pay. I got married 2 years ago and my husband now have said he don't want his wages included in the income for the financial breakdown. Is…
IVA Advice
Hi Everyone Looking for some advice from people that have been through this process I'm considering getting an Iva . I have been paying all my debt and it's up to date, but by the time that's all gone I barely have enough for food and fuel before there's nothing left. I owe around 40k, half on a loan that has 6 years to…
Desperately seeking some advice
Hi all, I am in a real mess, and it has, for some time, affected my mental health with serious bouts of stress, anxiety and depression. This is a summary of my current position: Home - shared-ownership home, owned in my wife's name ONLY. I am nowhere on any documentation. Debts - Water companies (x2) 5000 Energy provide…
IVA & Creditors
Hi All, I currently have an IVA via Stepchange to pay just under £20,000 of debt. I am 17 months into this agreement and have never missed a payment. I have paid approximately £4500 of this debt back to 10 different creditors. All has gone smoothly so far, all creditors have accepted the IVA from Stepchange and I've never…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
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Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
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Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
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Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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IVA & DRO

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