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IVA & DRO

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

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…
Iva Completion
Recently both I & my husband have completed our Ivas. Both were completed via a full and final settlement and we went via PayPlan. Couldnt recommend PayPlan enough from start to finish they have been amazing. From setting it up to annual reviews, payment breaks and now completion - highly recommended. My husband paid back…
CCJ after DRO
My partner and I had DRO's in October 2016. My partner's DRO included a debt with Sainsbury's credit card. Today he got a letter from a county court "Notice of Issue of Warrant of Control"... with the creditor named as Arrow Global. It looks like Arrow have got a CCJ for the Sainsbury's debt and if he doesn't pay bailiffs…
IVA Help
I’m currently 9 months into an IVA. The total amount of my IVA was £8,600 and I have paid £1,405 to date leaving £7,195. My monthly payments are £145. I have a few questions. 1) If I was to offer £7,195 for a full and final settlement would that be accepted? this is a potential gift from a friend. 2) I have just accepted a…
DRO but on variable income/need to pay student loans debt
I am looking into getting a DRO but my income is extremely varied. tl:dr: My budget varies with my income, how will it affect a DRO? I need to pay student loan overpayment debt to be able to apply for student finance, will this stop me getting a DRO? I work as a tutor through an agency which means I don't work holidays, so…
Can an IVA stop me from getting a job in a bank?
I have opened an IVA after being really hit by COVID and have struggled to get good, well paid employment since. I finally have got a job offer from Barclays who I am really excited to work for but would my IVA stop me from getting the job? Would be really heartbroken if this is the case. Thank you
Letting agent check
Hi all, I have a DRO which is 4 months old. As regards letting agent checks, after the 1 year and 3 months that my name is on the insolvency register how visible is the DRO to letting agents? I am getting conflicting information as to what checks they do, public or otherwise. Luckily I have a long term let but want to see…
IVA and credit mess up
I’m 3 years into my IVA and I have a couple of times taken advantage of the salary sacrifice scheme at work. I’ve kept these to under £500. Declared them and been fine. Last year I had a mental blip and took out two. One to replace our dead dishwasher and the other for a Christmas present for my son. I thought these were…
Change in debt solution advice please
Hello I've got an iva just over a year now.. My circumstances have recently changed due to Ill health so a reduction in my income. My iva payment hasn't changed though but one of their people suggested I would be eligible for a DRO which it seems I would be but unable to get any information as stepchange ECT cannot give me…
Personal experiences with an IVA
Hi there, I am in quite a lot of debt - £24k on credit cards and overdrafts. I spoke to someone recently re an IVA and I was contemplating it, however after reading through info online I think I was told wrong information - I asked if the IVA was paid off before the term ends if it would be removed from my credit score and…
IVA F&F paid October 21 but still not received completion certificate
Hi, I paid a off my IVA after 13 months last October and have been chasing my completion certificate ever since. The reason given for my IVA not being completed as yet is they are waiting for 1of the creditors to submit their final claims. The creditor is listed as HSBC but the debt was through John Lewis Financial, the…
Daughters IVA
My adult daughter, who still lives at home, has an IVA due to end in June. She knows she is supposed to get a Completion Certificate at some stage but is wondering if once that is received if that means there will be no trace on her credit file afterwards. Also is she obliged to declare it or will she asked if she ever had…
Debt Relief Orders and Home Contents Insurance
My home contents insurance is with Saga. I'm due to renew but the issue of previous CCJ and a Debt Relief Order has come up. They have priced my renewal at £95 per annum more than my current policy. I am shopping around for an alternative provider online and have had some good prices but the issue of bankruptcy always…
IVA info please
Hi, I have £8,300 debt I have had to give up work for health reasons and can no longer afford to repay my debts . I have always worked and am worried about doing this . The man I spoke to made it all sound very easy . Is there anything I should look out for before signing ? Many thanks
Paying off iva
I have approx 2 years left on my iva. I hate it, it was a big mistake. I had just had a baby when I took it out and honestly don't think I was thinking straight! Anyho, my original debt is around 14000. On my creditfox app it says I've paid 3500 and have approx 3500 left , wiping out 50% of my debt. Now someone has offered…
IVA Question
Hello all. I’ve been in an IVA for about 18 months now and all going well. However, one of my creditors hasn’t withdrawn any of the money I’ve paid in. They also continue to send me statements (albeit without any interest added and no follow up). I wanted to know what happens if I complete my IVA and they still haven’t…
IVA fee's
hello, i have been paying into an IVA for 5 years. my original debt was 50k, my IVA is for 96 months but my latest chairmans report says i will repay 69k over the durationof my IVA. is this correct? the whole reason behind an IVA is to help, this doesnt seem to be helping me.
DRO: when will my credit report change?
Good evening all I am writing to ask about debt relief orders (DRO). My DRO application was accepted 6 months ago and is showing on my credit report with £0. All of my included debts are still showing on my credit report. I just wanted to check, is this normal? Currently I am in my moratorium year, will the included debts…

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IVA & DRO

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