We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

IVA & DRO

Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).

Really worried my husband being pushed into IVA
My husband and I are not happily married but stayed together as financially difficult to split. I was unable to work as our son has special needs and the ongoing medical appointments/fights with the schools made it impossible. He is an IT contractor working through his own Ltd company. His work stopped when Covid hit. He…
Terminating IVA
I’m currently 2 years in an IVA however when I took out the IVA I believe a DRO would have been more suited to myself, 18k worth of debt, renting, no assets to protect, my surplus was £97 per month just over the limit for a DRO however the IVA company suggested I had to decrease some expenditure which took the surplus over…
Scottish Trust Deed - accounts in credit file
Just looking for a bit of quick advice. I'm currently 2 months into a Trust Deed that has since then became a protected trust deed. I notice the majority of my creditors are still reporting my accounts as being 'In Arrears'. Should I request these creditors update the accounts to be marked as a default on the date my TD…
IVA & pregnancy
Hi, I have an IVA active from august 2022 it’s been going well and I’m overall happy with it. However I have just found out I am pregnant (already have 2 yo) and I am concerned about it affecting my IVA. I am over the moon I am pregnant and am very excited but the IVA lingering now is sending my anxiety through the roof. I…
Keeping money from windfall
I am currently in an IVA and have been for 18 months paying £425 a month. The original debt stood at about 40k but I have just sold my house which I received 44k from and now they are wanting 37k to settle and complete my IVA. Do I have to do this as losing all that money in 1 go is not really the option I would like to…
Deliberately fail IVA
Apologies if this has been posted before, I did look but couldn't find anything similar. I've been in an IVA for over 6 years and due to unforeseen circumstances including illness and injury I have quite a few missed payments, several variations to allow these to be added on etc. As a result of this the IVA has been…
IVA/Q's please
"write off UP TO 81% of your debt..." Keep hearing this on the radio. Friend did an IVA 6 mths ago (fee was £3k. "My IP made conference calls to call creditors - nil response" ALL of your (non-personal) - He was Coy Dir - debts are now FULLY written off. Nil payable" CAN this be true?? Figure is £300k. He is making no…
IVA & owning a car
Hi, I’ve had an IVA since September 2019, I’m now in a position of getting a car, my dads paying for it for me (£750) I was wondering how to insure it as it is a form of credit, so I rang the insolvency company who basically said I need to provide them with proof that my dad has bought the car for me, which I understand,…
IVA help
Hello, I see there is a lot of questions about IVA here. I will also try and read up to see if anyone has the same problem as me. I am not happy with the company running my IVA. I'm 35 months into the arrangement. I have been struggling with the agreed monthly payment of £150. I'm unemployed and on Universal Credit. I…
IVA or Bankrupt Help!
Hi all. I got an IVA in October paying of £10,000 debt I’m self employed builder, I am paying back £120 over 5 years I owe my family around 4K and they also want their money back now it’s been years. my mental health isn’t great, my girl friend wants to take me away somewhere cheap like India she said she’s happy to pay my…
Settling IVA on payments made
Hi I recently posted in here re my IVA provider and making a complaint about their handling of my case. I’m now back again as they have done yet another recalculation and have now said that they will put forward my IVA for settling early on payments made to date. I only have 6 payments left on it and have fully paid all…
Considering my options
I have been advised that an iva is my best option but wanted some opinions FactsNet income of 1200 On UC and will receive child maintenance of sorts ( me and my ex alternative who claims for our child and split the difference) Total income will be approx £2000 maybe slightly higher I owe 14000 Currently renting my property…
IVA - Compensation “Windfall”
Hi, I am in my final 9 months of my IVA, and have never missed a payment. Late last year I submitted a compensation claim for historical childhood sexual and physical abuse which lasted almost 15 years. I was wondering what happens to this compensation if awarded to me. I have already informed my IVA company reference this…
I’ve just started my Iva and thinking about my future!
So my Iva has been accepted by my creditors and I’ve made my first paymwnt. I feel really nervous but I know that I had to do this. just having random thoughts and questions though and wondered if anyone could help me? Im a single mum to two children living in rented accommodation (council). what happens if in the next 5…
IVA and Joint Mortgage
I initially agreed about starting an iVA as a company I was talking to told me my debts were £36k, as this is something that I have let get out of hand (keeping on top of and not dealing with very well) I believed them, I have initially set up the IVA with them, however I have had serious doubts since (only since Friday…
PPi
My iva was completed may 2022 60 payments paid , not had my certificate received, now out of the blue , several months later they want me to sign and agree to a solicitor, for ppi claims , check insolvency register it says my iva completed, so why they harrowing me now to sign to a solicitor, to chase up ppi I'm fully…
Settled my Iva is it still impossible to get a mortgage thanks 🙏🏻
So I settled my Iva in November and now want to get a mortgage hopefully 🙏🏻 is this completely impossible until my six years are up or can I hopefully get one thanks for any help .
DRO Renting
Hi I had to do a DRO on 9th March 2018, discharged/satisfied 9th March 2019. I need to leave my current rental and now I'm hitting a wall with renting a new property. They ask if you have any 'adverse credit' and I reply honestly, but the last letting agent just said that as my DRO was for 10.5k and it will show on my…
£80k Unsecured debt and stressed
Hi. I am suffering from huge stress and am only managing 2/3 hours of sleep and just cant cope with the repayments - been over 3 months and havent paid 2 out of 5 of my creditors. I owe circa £80k at the moment in unsecured loans/ credit cards/ bounce back loan (sole trader) etc. My business went bellys up during covid.…
Ebenegate ARGHHHHHHHH
Hi So I am in my final 9 months of my IVA and was sold from Vanguard to Ebenegate. They called me in December to tell me they had done an I&E review due to a change of circumstances that I had submitted and according to them I could not afford the payments due to cost of living. Did I want a payment break, I said no but…

★ ★ ★ Meet your Ambassadors

Confirm your email address to Create Threads and Reply

MSE News

Martin Lewis: How to call your bank with just three digits – as 'anti-scam' phone number called over a million times
One million calls have been made to the '159' anti-scam phone number since its launch in 2021, new figures reveal today (Wednesday 30 April). MoneySavingExpert.com founder Martin Lewis – one of the well-known faces most used in scams – explains how to call your bank by dialling just these three numbers.
Revealed: Holland & Barrett's supposedly cheaper 'Subscribe & Save' often costs more – it's promised a review after our investigation
Holland & Barrett's 'Subscribe & Save' scheme claims to offer regular shoppers "the best value" – but it failed to do so in the majority of cases MoneySavingExpert.com checked over a five month period. The retailer has now promised to review the scheme after our research found it was often more expensive.
Don't get your passport by post – 360,000 paid more than needed last year
If your passport is due for renewal, apply online if you can – it'll save you £12.50. More than 7 million Brits did just that last year – but over 360,000 missed out on savings by using a paper form instead, MoneySavingExpert.com can reveal.
Sainsbury’s Bank customer? NatWest takes over this week – here's what it means for savers and borrowers
Sainsbury's Bank's savings, credit cards and loans will be taken over by NatWest from Thursday 1 May. For most, this means little will change for now as the Sainsbury's Bank brand will remain, though it's expected to be phased out towards the end of this year. However, if you've over £85,000 saved across both banks, it's worth considering moving any excess elsewhere to ensure your cash remains protected.
Chase customer? Check if you can get its newly boosted 4.8% easy-access saver
If you've got a Chase account, check if you can boost your easy-access savings to 4.8% – made up of a 1.8% AER fixed six-month bonus plus its standard 3% variable rate. Chase says over 2 million customers can get the boost, which would top our normal savings tables if it were open to all, though it's beaten by the top easy-access cash ISAs.
NatWest to complete takeover of Sainsbury's Bank this week – here's what it means for savers and borrowers
Sainsbury's Bank's savings, credit cards and loans will be taken over by NatWest from Thursday 1 May. For most, this means little will change for now as the Sainsbury's Bank brand will remain, though it's expected to be phased out towards the end of this year. However, if you've over £85,000 saved across both banks, it's worth considering moving any excess elsewhere to ensure your cash remains protected.
Martin Lewis: Is the £20,000 cash ISA limit about to be killed off? What savers should be doing now
Plans to cut the £20,000 cash ISA limit later this year are being considered by the Government. In his latest video, MoneySavingExpert.com founder Martin Lewis explains what's likely to happen, what the changes would mean for savers and what you should be doing now.
NatWest to complete takeover of Sainsbury's Bank this week – here's what it means for savers and borrowers
Sainsbury's Bank's savings, credit cards and loans will be taken over by NatWest from 1 May. For most, this means little change for now as the Sainsbury’s brand will remain, though it's expected to be phased out towards the end of this year. However, if you've over £85,000 saved across both banks, you'll need to move any excess elsewhere to ensure your cash remains protected.
NatWest to complete takeover of Sainsbury's Bank this week – here's what it means for savers and borrowers
From Thursday 1 May, Sainsbury's Bank credit cards, loans and savings accounts will be run by NatWest as part of a deal between the two banks. You'll be moved to NatWest in the future, likely towards the end of this year, but for now the Sainsbury's Bank brand will remain and you can continue to use its products and services as before.

View All

IVA & DRO

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free

IVA & DRO

Discussion List

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free