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IVA & DRO
Archives for January 2021
Discussion List
Debt Relief Orders - consultation launched
A consultation has been launched today to change the eligibility criteria for a DRO. The proposal is to set new financial limits that would:* Increase the total amount of debt allowable to £30,000 (from £20,000); * Increase the value of assets owned by the individual to £2,000 (from £1000). We are not proposing to change…
Do I have to declare refund from creditor? (DRO)
Hi. I was approved for a DRO last September. I just received a letter from one of my creditors saying I’m due a refund of £85 as compensation for them giving me a credit limit rise when they shouldn’t have. Do I have to inform the insolvency service of this refund, and should I even contact the bank regarding the payment?…
IVA + help to buy
I am coming up to the 5 years of my help to buy so I would normally look at remortgaging to pay off the % of the house value owed however I am in the 3rd year of an IVA following financial difficulties meaning I won’t be in a position to remortgage.. what are my options?
CreditFix vs PayPlan
Hi all, I am about to agree to progressing with an IVA and I am torn between CreditFix or PayPlan. Both have very good trustpilot reviews and have been very helpful so far. I am asking for for constructive feedback about pro's and con's from personal experience with CreditFix/PayPlan (including the annual review process)…
Hmrc debt
Hi all again, Ok so my DRO was accepted 17 dec all went smooth and I feel relieved!! One of the debts that was in mine was hmrc... well actually a few from them however one of them was a overpayment of tax credits from 2016-2017 it was £964 ish but was just in my name on the letter even though at the time it was a joint…
Life after and IVA
Hi guys, I have a quick question if anyone can help. On December 1st 2020 I paid off my IVA early it was due to end March 2021 but had an end of year bonus so cleared the rest off. The company, Creditfix, have been pretty vague and I can’t get a straight answer from them about what to do now. The plan is obviously to now…
Moving home
Hiya all Happy New Year to you all. We are looking to move home around May time if possible my DRO finishes in September which was from a past relationship and debt left in my name, am i being too optimistic in being accepted anywhere jointly as a new tenant? . We have never missed payments etc in this house, all bills up…
Could I lose my home.
Hello everyone and thanks in advance for any help. I am currently working with stepchange in regards to my debt, but it is in the early stages, I’ve completed their SOA and now I need to call them, hopefully they will be working tomorrow if not I’ll do it Monday. My situation is this, I brought a home with my partner 9…
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