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Contract + Overtime
Hi All, I'll qualify on paper for a DRO at the end of the month - £35k unsecured debt, no assets (no car, I use my parent's) Looking at my income last month, £1057 was from my base contracted hours, £1244 was from overtime. My net was therefore £1872 This month, I've barely got any overtime at all, but I am guaranteed my…
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Is an IVA right? £28k debt, self employed and PAYE income
Hi all, gutted to be having to ask but need a way out of the worry! Here's the important points: Looking to possibly do an IVA in my name only - debts are all mine. Assets Owned home, mortgage in wife's name but clear beneficial interest. Approx £50k equity each. No other significant assets. Income Wife - PT employed and…
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Extra money when in an IVA
Hi there, I have received £300 extra money from selling some random shares I received. I have tried tirelessly with my Iva provider to see if any needs to be paid into my Iva and I keep getting different answers after waiting days for emails back. Has anyone else had extra money and declared it when it’s around that…
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IVA + inheritance
Hello, I am 1 year into an IVA and have been left a 7 figure sum by a relative. My question is, do I have to pay back the full amount I owe on the IVA in full or is there some way to get around this? If I pay back the creditors will my credit be repaired? I likely won't need credit for anything that I can think of in…
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income and cash IVA
Hi so i'm confused I have a friend that is in a IVA too. two years in. I'm almost 3 years in. I have a annual review in December I think. but anyways , my friend has started to withdraw her monthly salary and budgeting from a jar. but wouldnt this raise questions? i mean she leaves enough for her subscriptions and her IVA…
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Advice about end of DRO
Hi, so in 3 days my debt relief order will end - I understand this stays on my credit file for 6 years which is fine, I had an extremely bad time with my mental health over the last 2 years and didn’t see anywhere out. I use clear score to look at my credit file and all my accounts from creditors are in default, yet I have…
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IVA: Useless Administration of IVA
Hi all, Long post ahead! Read some really valid and valuable posts on here over the last several years and was hoping just for a bit of information/guidance with my ongoing IVA. I took the IVA out in 2019 as I had loans/credit-cards totalling £40k. I don’t own my home and privately rent and went through the motions of…
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My car is dying and I have an IVA! Help!
I'm in an Iva. I'm Single mum to two children, I work part time and claim UC top up. I live by myself (with my children). I rent via the council and I own my car outright. Just covering the basics incase they’re relevant! I have a car. She's an older car but I've had her a long time so I know where I stand with her. A few…
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Is a Budgeting loan a qualifying debt for a DRO?
Hi I have some confusion, I’m currently receiving ESA and have applied for a Budgeting Loan but I’m confused if it comes under a qualifying debt in a DRO? The Gov Website shows some contradictory information. Can someone kindly please help me, thank you
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DMP entered but feel was wrong decission
I was £3580 in debt £1200 with Currys,rest with Klarna.in a moment of panic I spoke to a company who said we can help by putting on DMP and spread costs etc.ithought yes that would be great.so entered into it. But now in reality I have realised for 3 months I could have aid the klarna off...and be left with just…
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Paid IVA off early
Hi I paid my IVA off early using my tax free amount of my pension fund but have now been told it takes 6 months to get my completion certificate. i need to redecorate my house as it is in poor state of affairs am I able to take more money from my draw down pension or can creditors still take it even though my IVA is now…
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Help needed Gaurantor loan & DRO
Hi All, I am looking at applying for a DRO and my partner is also. The question I have is. I have 2 guarantor loans which were taken out with Future Finance Ltd when I was in Uni. They have since gone into voluntary insolvency. The guarantors are my partner and my landlord. Due to health reasons and my partner having to be…
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Spiralling/drowning in worry IVA/DMP advice please
Hi All, Apologies for the long post….. I have been in a DMP with StepChange for almost 3 years, they have been so good to me I am ashamed to admit with the cost of living and my stupid mental health I have obtained more credit whilst in this DMP that I am unable to pay off, (I am currently on sick pay post shoulder op) The…
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reasonable fees for IVA
Hi, I have been quoted £113 per month repayment on c£10,000 of debt, through Ukdebtexpert.co.uk and creditfix.co.uk, their fees are £4500, including supervisor fee of £2100. Repayments would total £6780 over 5 years. Is this a good deal?
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Will have a lodger affect my IVA?
I am thinking about taking in a lodger under the 'Rent a Room Scheme' The annual income would be under £7500 so I think I do not need to fill in a tax return, but will it effect my IVA?
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Moving house but husband has IVA
wondering if anyone can help. I’ve recently found out my husband has been in an IVA for almost 5 years. We own a home together (with a mortgage) and really need to move for more space as we’ve had 2 children since he started the IVA. However the debt is a lot (60k) and as we will only have one more year until the IVA…
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DRO application - pay pal 3 and bank statements
Hi, I am currently in the process of applying for a DRO. I was just wondering if the official reciever can see that I have been using pay pal in 3 for the last couple of months? I was making payments on time before my financial situation got worse. Would this go against me as during that time I was on a Debt Management…
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Received a letter from one of listed creditors - DRO moratorium
Hi Im already 10 months into DRO moratorium period. Yesterday for the first time I received a letter from one of listed creditors with annual statement with arrears amount. Should I do anything with it?
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DRO application
Hi Guys. Really need some advice. After a long journey trying to get help with debt, my debt application was finally sent to an approved intermediary on 22nd March. My debt advisor said tge approved intermediary from CMA would contact me. My debt advisor then contacted me on 8th April asking to clarify my full name? The…
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Mortgage 8 years after DRO
About to apply for a mortgage - do I have to disclose that I had a DRO (8 years since end of moratorium) even if it has been removed from the register and my file? I'm fortunate enough to have a deposit that takes me over 50% and my credit rating is now very good. For most lenders would this outweigh the past DRO?
