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Debt Relief Orders (DRO) - Information & help thread
Info from Government website : https://www.gov.uk/government/publications/getting-a-debt-relief-order/getting-a-debt-relief-order National Debtline: https://www.nationaldebtline.org/EW/factsheets/Pages/37%20EW%20Debt%20relief%20orders%20%28DROs%29/Default.aspx
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Individual Voluntary Arrangement (IVA) & Debt Relief Order (DRO) Info, advice and help thread.
Updated 21/05/2023 DRO (Debt relief Order). There is info on the net and in the link provided below, but these are the main practical features - (1) Total debt must be no more than 30k (2) Must not be a homeowner (not even with neg equity) (3) Asset limit is now £2000 as well as a vehicle valued at up to £2000. (4) Monthly…
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IVA & DRO Board Sticky
Hi folks :) This is the new IVA & DRO Board Sticky where links to all current important threads will be kept. Links: Debt Relief Orders (DRO) - Information & help thread IMPORTANT READ FIRST - Where to seek IMPARTIAL FREE advice DRO s and benefit overpayments IMPORTANT - Beware of advice via PM
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Iva completed
My IVA has been completed over a year today I got a letter from Lowell saying they had brought my debt. What happens now? Will they except that it was cleared in my IVA?
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IVA Advice - Settling IVA then selling house
Hi all. I've had an IVA for 30 months with another 30 months remaining with a probable extra 12 months extensuon. Currently pay £70 a month & have been offered from a family member a loan of remaining payments to settle IVA. My IVA provider has estimated this figure as being £2100 but obviously that doesn't guarantee that…
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Can an IVA be mis sold?
3 years ago I approached a debt help company in Manchester. I currently survive on benefits I claim ESA and PIP. The PIP payment can't be included. So my income is £200 a week. I had debts of £25000. I was told that an IVA would be best at £69 a week. This has been tough for me in the current crisis but when I call still…
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Extra payments not in the IVA
Hi My husband is going into his 6th and final year of his IVA in January. When we started this they told us not to add the overdraft of our bank account into the IVA as it was in joint names so I set up a seperate payment in my name which I pay wescott for monthly for the overdraft. In the last year I've noticed payment…
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Debt relief order- preferential payment concern
Hi All Your advice would be greatly appreciated. I want to hopefully apply for DRO end of October have some things to get sorted first. I have applied for my name to be removed from the joint accounts with my husband. ( only his money is in there. I have my own accounts. I just managed family/kids payment so it's easier…
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Clear Start Accountants
I rang the Step Change charity for debt advice who said they couldn’t help me as I had a mortgage. They put me on to Clear Start Accountants who charge a fee to speak to creditors on your behalf (about £600 a year). After some breathing space I spoke to National debtline who helped me with speaking to my creditors in…
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How to RENT if he has an IVA??
My daughter needs to rent a home with her partner and 2-year old child. Although she (as the main applicant) earns in excess of £40k and her fiancee gets about half of that - he is 1 year into a 5 year IVA. He has kept up those payments and they both have good credit ratings. So far they have applied to estate agents for…
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Close to DRO application.. New debt Bailiff
Hi All I would appreciate some advice please. Its been a slow journey but am getting close to apply for Dro Just waiting for a few things to line up. Got a big shock a week ago. Letter from bailiffs for parking ticket from 1 year ago. My old car was still registered to my old address so Letter was sent there until they…
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DRO - should I be worried?
Hi all, I recently had a huge win and had a big debt written off. This change in fortune now means I qualify for a DRO, where before the only option was bankruptcy due to the size of my debt. I am on a DMP with stepchange and some of my debts are 15 years old and in recent years took out a couple of credit cards, not to be…
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£75 surplus income
Good morning, Does the £75 surplus income after all monthly outgoings are paid include all the payments to the debts you want written off if you go down the DRO road? Hope this makes sense. Thanks
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going fulltime to partime and not claiming universal credit then DRO application?
myself and wife are in a DMP from stepchange , £22,500, still owed (£11,250 each) we have been on it for 18 months, 3 years still to go. about £540 a month, We are exhausted in our jobs, they are physical, we are 55, we asked boss to go from fulltime to p/time,--- earning about £700 a month each. they agreed. I spoke about…
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DRO - Unusual Circumstances
I have quite a unique self employed situation where almost all of my work is done "on the road" as a content creator. I get paid for creating marketing content for products which I shoot in outdoor environments. My business and living costs vary a lot from month to month. My finances have become worse and worse over the…
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DRO fluctuating income.
Hi I have recently been granted a DRO. My average of 2 wage slips was used to give my average earnings. Next month I stand to recieve 150 pounds more than the average amount but for the following 2 months it would be 100 pounds less each month. This scenario happens quite often throughout the year but overall my average…
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Struggling to get stolen money back as a creditor from an IVA company (CreditFix)
Hi there, I am owed money from someone who is in an IVA with CreditFix. I am a registered creditor with them but they still haven't sent me a single payment. It has now been more than 3 years and I don't know what to do anymore to retrieve my money. They are claiming that the fast transfers do not work with my bank account…
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Creditfix IVA Adjustment Request
Hello, I've just received an email regarding creditfix wanting to call a meeting of creditors to adjust their fees. The worrying part is the comment at the bottom which states: Please note, you may be impacted if a change in circumstances allows you to repay your creditors in full. As I may be in the position of being able…
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IVA company requesting permission to call 'meeting' of creditors to discuss uplift.
Helo I am 26 months from paying off an arranged IVA. Having read information on these forums I now realise I've been missold the IVA (my debts were well below £30k, I have no assets to my name (renting as I can't afford to buy). Unfortunately, despite thinking I had thoroughly researched the options, I fell for an…
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Iva early settlement
Hi I think the last time I posted I got the information so I will start again . I am a beneficiary of a will . I might inherit between 8,000 and 10k i informed my advisor and they our going to try for early settlement . We our in our iva 52 months . We would have 3020 left to pay . He is going to put an offer in as we…
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A good Sunday feeling!
I knew it was coming but to wake up to a message and then seeing this just reconfirms how far I’ve come and the end of 6 year period that I’d rather not ever have to experience again. A very much welcome relief!
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IVA still showing after 6 years
Hi,my iva was settled recently and I expected the debt to fall off as it was after 6 years started. I note that is is still showing on all my credit files. Am i suppposed to ask them to remove it?
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IVA Yearly Review
I have just submitted my first yearly review. Can anyone advise what usually happens next? Is there any futher correspondence e.g a phone call or email communications once they have reviewed my documentation and supporting evidence?
