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IVA & DRO

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

Earnings arrestment in Scotland
Hello all, can I kindly have some advice in relation to earnings arrestment? I currently have an earnings arrestment on my wages. I fell into steep debt after experiencing depression which has kept me off my work. I receive half pay from my employer however a creditor applied for and were granted an earnings arrestment. I…
Is it our responsibility to inform creditors of a DRO?
Hi, Writing on behalf of my partner who has been approved DRO from April this year. She is still receiving letters stating missed payments, possibly going to debt collectors if no response etc, which i know is the usual. Just wondering do we need to contact these creditors ourselves to infrom of the DRO to stop the…
Are these organisations legitimate
Hello, I was wondering if anyone has had any dealings with the following organisations/companies regarding IVA? 1. Consumers Choice financial consultants. 2. ST&R Ltd Insurance Brokers 3. Astute Finance 4. Freeman Jones I was wondering if these companies are legitimate or if they are setting me up for a scam. If anyone has…
Minus Figure on DRO income/expenditure
Hi all, I have two questions here, I've just completed an online income and expenditure form with Business Debt Line. After all of my expenditure I'm actually left with a minus figure. Will this mean I don't qualify for a DRO? Also, I am a self employed sole trader but all of my debts are personal and not business related.…
DRO application and credit cards
Hi all, I am about to collate and send off all the information needed to apply for a DRO. Ive completed my budget, been advised on a DRO as the best outcome etc. I have recently transferred a balance from one credit card to another as I was offered a 0% interest period. Will this be seen as preferential treatment and in…
IVA Application
Hello, Please bear with me, this is my first post. I currently owe just over £24,000 in debt. I am paying these on time every month for the last 2 years', however more recently it's becoming overwhelming as I am paying out £1100 a month of my monthly earnings with no leeway to do much more after that including savings.…
Considering IVA
I have a debt of £25 and for the past year I have earned £2k or less monthly. I don’t have a home and going back to school full Time in September. I don’t owe a home and am considering an Iva at the moment . Can I be advised please ? My debt is mostly from credit and store cards as I lost my job a few months in 2018. Also…
Hanover insolvency group
Has anyone used this group for Iva and are they helpful ?
DRO and mobile phone contract upgrade
Hi all, I am going through the DRO process at the moment - just wondered if anyone had any advice or can shed any light for me on this; I am due to upgrade my current phone contract in September. My phone contract is not in arrears or default and is included in my income and expenditure for the DRO purposes. Anyone know if…
Share to buy with dro
I am begging n pleading someone can help. To cut a long story short left my abusive ex husband with just the kids. Struggled to rebuild us during pandemic so went to step change for dro. I have in this time what I thought had put sticker n chosen my plot from share to buy places for people. Let me Choi’s carpets etc then…
DRO/Default?
Hey guys. I'm almost 2 month into my DRO and I was wondering if anyone could shed some light on this. So my only two debtors were TSB and Lloyds. About a week after my DRO was accepted,TSB wrote to me to say they had been informed and that at the end of the DRO they would write off the remaining debt. My Clearscore now…
Is a IVA the right choice?
Hi guys, I'm really confused about my options and I wonder if someone could help me. I have unfortunately racked up debt of around 15k, 13 of which is on credit cards. I am struggling with this debt if I'm honest but that's because I've been stupid and not taken it seriously, which is finally about to change. I am lucky…
DRO Questions
I am set on going for a DRO but just have a couple of questions: 1) How deeply do they look into how the debt was accumulated? I don’t have detailed record of it and also there are unnecessary things put onto credit cards (house improvements, clothes, leisure activities etc) 2) How recent does debt have to be to be…
DRO and Car
I am going to shortly enter into a DRO (presuming it gets accepted) but I am unsure what to do regarding a car. Currently I have a car worth about 3000 with about 5000 outstanding…..presumably I can’t keep this car and keep making the payments? If not, can I simply ask the HP company to come and get it and tell them what…
IVA payments
Due to a recent bank account change I had to re-request the bank details of the IVA company so I could set up the direct debit/ standing order once again. These were duly provided but I was concerned to see the account name was not the IVA company but the name of one of the actual insolvency practitioners working for them.…
Iva
I have an Iva and have been separated from my wife for 10 months. I want to come off the mortgage of our property so she can remortgage and we can have a clean break. This property was mortgage free when we we met and all the debt is my fault, I have 4 years left if an Iva and I just want to be able to help my ex partner…
Can IVA cover loan taken by my friend
Hello, First time on the forum. Can someone advise please? My friend took a loan at his bank and we pay £220 between us each month. Can IVA (which I'm going to apply for) cover my half of that loan?
DRO and packaged bank account
Hey all - has anyone kept their packaged bank account while in a DRO (I know they aren't popular, but mine really does save me money on insurances and breakdown cover)? Or been successful in gaining one after being discharged from their DRO? Thank you.
DRO - Social Fund Budgeting Loan query
I'm asking this question on behalf of a relative (I've already had a DRO 3 years ago and posted in this forum at the time, I was grateful for all the help).If someone has an outstanding Budgeting Loan from the DWP Social Fund with only 7 weeks repayments left (total of £148 outstanding), would it be possible to hold back…
Advice needed.
Hi. I'm 4 years into an IVA, biggest mistake of my life. I'm not proud that I had debts of £26.000 but I've paid back £22.000 of it. I had a big change in circumstances last year and could not afford the payment, informed them, filled out a new expenditure form & they informed me to cancel my Direct Debit which I…

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IVA & DRO

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