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IVA & DRO

Archives for February 2022

DRO and lump sum queues
Hi there I was in a DMP with StepChange but my income has dropped so I am now only making token payments (via Stepchange). I've found StepChange to be very supportive and helpful but I'm posting here because I seem to be receiving some conflicting advice and it would be really good to hear from anyone who has had…
Remortgage for IVA
Hi can anyone help please Next year is our 5th year into our IVA so I know they will ask us to try and remortgage, We really don't want to and would prefer the extra year of payments What are the chances of us being accepted, we will be about 9 years away from finishing our mortgage and would owe around £40.000 on it so…
Mortgage and IVAs
Hi! Looking for some help and advice i took an IVA out 2 years ago, I have recently settled it with a lump sum instalment i have 2 CCJs that are currently 2 years old (Debts included in IVA) my credit rating on Experian is 489 I spent 3 years when I was 18/19 in an abusive relationship where I took out multiple loans and…
Bank account
Hi everyone I’m applying for a dro, and very worried about my bank ( Halifax) I really don’t want to loose my account and need one for my benefits to go in, I’ve been told different things from it will be fine to no we will have to close it, I owe Halifax absolute nothing and don’t have an overdraft so not sure why I can’t…
During and end of DRO
I am in the process of removing my head out of the sand regarding my debt. I have searched forums and internet for people's personal experiences of a DRO. Can anyone tell me what checks the IV service did during and at end of their DRO and if you were required to show bank statements or payslips after the DRO was issued. I…
IVA Company Help
Having researched our options, we have decided that IVA is the right route for us & have been advised the same by Stepchange. However, we thought that Stepchange would deal with our IVA in-house, but when the advisor said she would arrange an appointment with the IVA team, that turned out to be Creditfix, who we are due to…
Wife’s IVA expiring
Hi guys my wife has an IVA which ends on 20th Feb according to the Insolvency register. A few weeks ago she received her annual income and expenditure questionnaire. Which she returned, nothing had changed since the previous years I&E It’s getting increasingly close to the end date of the IVA, but she’s worrying because…
NatWest Current Account post-IVA closure
A brief overview.... entered in to IVA in September 2017, got discharged in October last year after a F&F settlement was accepted. NatWest put my 2 current accounts in to a 'Foundation Account' from their standard and Advantage Gold accounts - which I was aware that they would, however, I have recently just requested to…
Job application asking if been declared bankrupt?
I am in the middle of applying for a position with my local police force and on the application it's asking if I've ever been bankrupt. When I have applied for previous positions there, I've always selected No. I emailed the Recruitment team/HR to ask that should I put Yes to that question as I am in an IVA, and they…
IVA or Secured Loan Help
Hello, I am new to the forum and looking for some advice from people who have been in a similar position. After a prolonged period of severe illness, we have found ourselves unable to carry on paying off our credit card debt. We have never missed a payment, but it is spiralling out of control and we have to stop burying…
Working....
Hi. I have a friend in a bit of trouble with finances. I have mentioned a DRO might be an option for her but am not sure if you can have one if you work part time? If on paper when working you still have less then £75 I think it is now. Can she get a DRO? I take it that this leftover amount when working the finances out…
Using credit while in a dro
Hi there I am in a dro and my gas and electricity is running out and low on food I do not have any money till next Wednesday but I have a credit cards with a zero balance on it, am I able to use it?
Working at the end of a DRO
Hi everyone, to cut to the chase skip to the bit in bold. It’s been a rough year. In early November 2020 I lost my job to the pandemic. I didn’t have much debt really, about £1200 on my credit card from a £2700 limit but I had some furniture and electronics on finance and kitting out a whole new house. I didn’t have any…
IVA and Council Tax
I have no idea where to start, me and my fiancé moved in our first new house just before COVID first hit and due to COVID she lost her job and has struggled since to get one (currently she is only working part time as she cannot find a full time job which she doesn't have to drive to) I had some previous debt and then…

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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
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
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
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
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 low-income 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.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
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
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
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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