-
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…
-
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…
