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IVA & DRO

Archives for January 2021

Guarantor for IVA
I have an IVA due to being a Guarantor for my son. I'm 2 years into it and as a homeowner still have 4 years left. I have continued to make the £170 a month payment even though I was furloughed for 10 weeks last year due to Covid. I included my credit card into my IVA also. What I'd like to know is can I claim that as…
Disability Money??
Good evening everyone,I currently have an IVA setup but my income is possibly about to change. My payments to the iva are worked out from the two benefits that I get, ESA and DLA. I have been informed that due to my condition my money will go up as i am classed as severly disabled by the government. The extra money will be…
Requesting payments after Iva settled
Hi, basically I took out an IVA in 2015. The company went into administration and was took over. That company then went into administration and was took over again. In 2018 my income changed, I called and called and couldn’t get through so emailed several times with payslips. Fast forward 2 years (with no annual reviews…
Joint Mortgage And Single IVA
Can someone tell me if my wife refuses to agree to any remortgage or funds being raised against our property, how can an IVA provider expect equity to be raised from this source ?
Considering an IVA ..a question please
Just considering an IVA and will of course take advice from one of the charities but i would like to know if I have say 5 creditors and 4 vote yes but 1 does not , does the creditor who votes no have to legally abide with the propsal? Thanks
Moved: F&F Settlement
This discussion has been moved.
Can a bank withhold your money on an IVa?
I entered into an IVA on 14/12/20, it was suggested to open a new account with a new bank. I have done this with TSB, I then transferred money to this new account. They are not allowing me access to these funds without a letter from my IP (step change) giving me permission to access the funds. Are they allowed to do this?…
DRO Application + Car Valuation + 22 year old car
My car is a 22 years old Volkswagen Passat, handed down to me by a family member, for free. Neither of the websites stepchange recommend give me a valuation based on my number plate. What am I supposed to do? Surely when your car is a common brand not like a Bentley or something and over 20 years old, a valuation is kind…
I'm free! DRO has completed
My DRO has finished today! I'm finally free, thanks to everyone for their help on here. I'm confused by the Insolvency Register as it shows the following Currently Subject To Debt Relief Order : Moratorium Period ended on 24 January 2021 Does that mean it's done? I thought there would be a more meaningful message to go…
Feeling anxious
Hi I did post this on another forum but it got closed I’m feeling so so anxious I’m beyond shaking and dreading going to bed tonight as I know il not sleep I hope someone can shed some light on my situation that’s making me feel quite anxious.I recently entered into a DRO and it was accepted and started on 17 dec 2020, all…
DRO Query
Firstly, I would like to say a massive thank you to the people on this board; in particular, Sourcrates and Fatbelly. Your collective knowledge has helped me loads over the past two years. My story, I was granted a DRO 08/01/2020 and I have just completed my one year moratorium period. I have taken screenshots from the…
DRO, what's next?
So I scanned and emailed everything to Stepchange early yesterday morning and spoke to an advisor on the phone who helped me with my budget and talked me through my options which were just the DRO. What's next though? How long until I need to do anything else? I've got my new basic bank account with Co-op, I've moved over…
Car loan when in IVA bad debt
Does anyone know the situation on getting a car loan with an IVA/bad credit rating? My son went through a mental breakdown, bad relationship break up, then made redundant through covid, left with thousand of pounds of debt he can’t currently pay off. He was in a debt management plan but due to the redundancy he wasn’t able…
Moving in with partner with IVA
Good afternoon, My partner has an IVA that has been running for three years. It is a joint IVA with his ex for debt that was hers but he agreed to do it jointly as they were a team! We would like to move in together soon. But what affect would his IVA have on me, if any? And also I own my house with no mortgage. He would…
IVA changes
I have been in my IVA for near 2.5 years now and with my job there is overtime that I don’t have the luxury of not working. My years review has been complete and they say due to this I can afford a substantial increase in my monthly payments based on 3 months throughout the year my wage being slightly more than normal. I’m…
Scared but going with DRO!! Questions!
So I'm finally accepting that I can't manage my debt anymore but I have a few questions. I have been majorly struggling for around two and a half years after having to leave my job due to health issues and then having my ex stop paying child support for almost two years. I've gone through step change and they say I qualify…
DRO due to end next week and credit file clean up
Hi My DRO is due to end on 24th January and all my accounts are defaulted with the correct date, a couple or showing dates a couple of weeks after the DRO date but for the sake of a couple of weeks I'm not bothered. My question is that will all of my accounts be automatically closed showing as partially satisfied or…
Solo IVA but joint mortgage
Hi Everyone, My wife is coming up to her final year with a solo IVA and they now want us to Refinance or re mortgage our house, but i am not part of the iva and i refused when she took it out, can i refuse to Refinance or re mortgage as it would for sure be a higher interest rate etc as our credit is now poor, Also i think…
Ppi payment
Hi, I was wondering if anyone could help I was in an IVA which was completed in 2012, RBS have sent me a ppi reclaim letter which I have accepted but they are now saying I won’t get the money as I have a debt with them, this debt was in my Iva so it has completed in 2012, I know it should go to the Iva people to offset…
DRO Consultation
There's a government consultation on expanding the limits of the DRO criteria. https://www.gov.uk/government/consultations/debt-relief-orders/debt-relief-orders-consultation-on-changes-to-the-monetary-eligibility-criteria Anyone can contribute - cut-off date 26 Feb The proposal is * Increase the total amount of debt…

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IVA & DRO

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