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IVA & DRO

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

IVA - Shared Ownership
Hi, I’m currently in an IVA which started December 2020 the debt that was written off was loans and credit cards nothing from late rental payments etc. Me and My partner possibly have a chance at applying for a shared ownership home which is currently in early stages of development. From what I have read online due to my…
IVA or DRO - non British
Hi Everyone. So basically I am seeking advice with regards to my debts. I have approximately £16000 unsecured debts (Loans, 4 Credit Cards, Creation and Overdraft).Almost 2 years ago I was in contact with Stepchange and I really should have taken their advice of doing an IVA. But I was proud that I would be able to pull it…
Allowed living cost limits for DRO application
Now we are living through raging inflation like the 1970s, how often will the living cost figures go up in line with inflation? when will they next go up and could anyone post a link to examples allowed for food, fuel and utilities please? I have an old example sheet but that was before the raging inflation
DRO Finished,thank you!
Hey everyone. My DRO finished a few days ago so just wanted to say thank you to everyone who helped with advice a long the way! Thanks again
BBC feature IVA 9.30am
On rip off Britain
IVA consent to remortgage
Hi, Husband has an IVA, We have a joint mortgage and it's coming up to the time where they will want him to try and remortgage Now Can I refuse as it's a joint mortgage and we don't want to, We want to do the extra year of repayments instead Also I don't work so would we get one if forced to apply for one Thanks
My (DRO) Debt Relief Order Diary
My (DRO) Debt Relief Order Diary With almost £18,000 debt, and being long term unemployed due to ill health, I had been paying each of the eight creditors £1 per month token payments, over the last four years. Whilst I am grateful for them accepting these token payments, my debts kept being taken on by different debt…
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…
IVA help
Hello, I have around 23k of unsecured debts, mixture of bank loans, mobile phones etc, had the larger bank loans setup with Moorcroft for couple years at reasonable re payment rates but having more debt was stressing me I’m 28 don’t own house live with parents. I came across payplan seemed extremely helpful gave all my…
PRA ???
Hi has anyone had any dealings with PRA debt company? Trying to clear debts after I received a small inheritance but they won’t reduce the amounts on 2 outstanding debts and the others are reduced by a small amount . I have told them I can pay a bit more but they’re just horrible! Thanks Minnie
DRO and lease car
Hi would really appreciate some advice please if someone took out a lease car contract which was £2400 deposit and £230 per month, and does a dro, can they keep paying the car lease and keep the car? say it was essential for work/life? could that £240mnth be put down as essential outgoings?
Debt recover advice
Not sure where to post this but I think this section is right. I have a disagreement with an online subscription service. I know I checked a box to not auto renew and yet my service auto renewed and they’re wanting over £300. It was on an old email I rarely use so didn’t get the warnings. Of course I don’t want to pay as…
I think I've been miss-sold
So I'm over 12 months into my IVA and after doing a little research on this forum I think I have been miss-sold the solution. I had around £15,000.00 in debt across 2 credit cards and 1 loan. I'm not a homeowner but I do have a car (the loan was taken out to buy the car). Like most during the lockdown, my debt spiraled and…
DRO advice
Apologies for another post ,I did write this as a comment but not sure how this forum works so wasn’t sure if it would get seen .so sorry if this is incorrect me posting again… so .. have removed my overdraft. it is not possible for me to save any money each month as I am already in minus .I’m a bit confused by the replies…
Help DRO
Evening all i asked a few questions the other day but I have one more if that’s ok. I am not in my overdraft with my bank ,I have showed proof to show this but Payplan are saying I need to remove my overdraft and send them proof ..is this right ? it is only £300 and I know the terms say £500 credit is ok?I would like to…
IVA remortgaging consent
Hi My husband has an IVA and next year we are entering into the 5th year, I know that they ask about trying to get a remortgage. Now we have a joint mortgage so can I refuse to consent to applying for one? We would really prefer the extra year of payments than a remortgage. If they say no what would be the chances of the…
Newbie help DRO
Good afternoon i am in the final process of submitting my DRO.I am in the minus figures each month with my income and expenditure. I claim universal credit and work full time. In April next year if the benefits rise I should get maximum £30 more. also if I get a pay rise in the year I have the DRO it will probably be…
Hoist Finance contacting after 9 years of completion.
Hello. It's been a long time since I've been on here. I'm hoping someone can advise and offer some help as amazing as it was 9 years (blimey) ago. Yesterday I had two text messages from Hoist Finance telling me I had an account set up to deal with my debt management. I understand this could just be phishing, but they are a…
Dro and hp car
Hi, I currently have a car valued around 4.5k. Was 7k when I bought it and I have paid half off already. I am thinking about doing a dro but will Halifax car finance take the car off me or want me to sell it as my son is disabled and I have 2 other children so I need it for them. My monthly finance is £140 which I don't…
Overpaying IVA
My IVA is due to finish in 9 months time. When I took out the IVA the debits were 17k. After the normal income & expenditure review it was established I could afford to repay 11K which was agreed by the debitors. The IVA company (Creditfix) applied for some PPI's on my behalf and they have received approx 4k back. So now,…

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IVA & DRO

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