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Q's on IVA assets, payments, SOA
Some probably silly questions: When declaring any assets on entering an IVA, if you have any savings do they demand that you hand over the full amount? (Sounds odd even having any savings I know but it's not a huge amount...) Also, does this sound plausible? I was told by Moneyexpert (whom I've dropped as they wanted…
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did a debt relief order today
my question is- can a ny f my debtors contest the debt being written off? and when do my debtors know theyve been written off?
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moving and renting
Hi, I have the very real possibility of being offered a better job 250 miles from my current location. We own our house and have an IVA. The new job is great for my future (IP told me those things are taken into consideration) but because of the additional cost of living near London and commuting, i would not be able to…
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Iva i&e
Hello Was wondering what people in an IVA have been allowed under "housekeeping" on their I&E's. When i had my phone assessment with Payplan, they said a family of 5 could have £580 per month for housekeeping. Is this similar to others? To be honest- i actually spend £450ish but i'm not gonna turn my nose up at an extra…
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Unproven Creditor Claims
We are in our first year of our IVA and have received a letter this morning from the IP which looks like it has been sent out to all our creditors saying a distribution to creditors was due last month but they are unable to do so because there are unproven creditor claims outstanding. Tried ringing the office but of course…
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Ok here goes ......
I've been lurking on the forum for a few weeks now and think its fab, and have taken the plunge and joined. I've started the first steps towards an IVA today. I have over 20K on 2 cards and a loan and having investigated all the options available, this is the best route. Feel relieved that things are now in hand and that I…
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Ex's IVA
My ex has entered into an IVA with PayPlan - I suspect he has not been totally honest with them about his earnings but that is nothing I can prove. My question is, we are finally in the process of sorting out our financial matters and our house is up for sale, so he will probably end up getting a figure of say between…
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Question
Hello all, Just a quick question. Although I am currently in the middle of an IVA I still have my contract phone. Will the fact that I pay this every month help my credit file improve quicker once my IVA is complete? Also, off the subject but something I found very strange! I have an HSBC Solo card which I've had for some…
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Equity Release
I have just entered my 4th year of IVA. I was wondering if anyone has any recent information regarding the current availability of adverse credit mortgages, maximum LTV etc.
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4th year equity release
hi sorry this has been asked before, but i could do with some clarification. I am onto my 4th year of my iva was with accuma, now with grant thornton, i am due shortly to look into equity release and was wondering if this could be an option for me. I really would like this, to hopefully finish the iva,my details are as…
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allowances for living expenses?
Hi considering IVA- anyone have any idea of what living expenses are allowable? not talking extravagancies- is there a list of what is allowable and what is allowed in each category? Thanks
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IVA Monthly Repayments
Hi Everyone I'm after a bit of advice regarding IVA'S. I'm currently on a DMP and it's going ok apart from the odd couple of creditors playing silly !!!!!!s, if they continue to not accept my DMP and add interest and late payment charges then I may be forced to go down another route. I don't want to make myself bankrupt as…
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Another IVA question
Hello again Since the end of Jan i've been sending token payments to creditors as advised by Payplan- as a result we'd saved a couple of hundred pound. Are Payplan entitled to ask for this saved money? We'd intended it to be a contingency fund for when the IVA was in force (after all- disasters can't be sorted out with…
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Still Adding Charges etc after DRO
A quick question - Companies I included on my DRO in October 09 are still sending me statements which add charges and interest. Should this be happening? Obviously it will affect the final balances. I know they know I have a DRO but still they send me these letters.
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Process at the conclusion of an IVA
Hello all, Nearly five years ago I entered into an IVA after making silly finanical mistakes in my youth. My IVA finishes in November this year, and I am just after some information / advice from those that can help. 1) - When the iva finishes, what happens to my credit rating? I have not applied for any credit and the…
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IVA self employed questions
Hello Still in the process of setting up an IVA with Payplan - very slow going- they're apparently very busy! Anyway, at the start we had to do a "cash flow" summary for my hubby's business. He doesn't use an accountant to do tax returns etc as its a new business & the money isn't there to pay accountancy fees. They said…
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iva questions. newby
hi im about to go to the cab and speak to the national dept line about an iva ive 50k of debt, mainly due to a remortgage on the house. about 5 years ago. i just have a few questions. if i get an iva then sell my house, current value is 330k and i owe 265k i pressume the money i get off the house will go to pay the debt…
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A little knowledge needed
Hi, Does anyone know or may be able to give a little advice. the house is being repossessed and has a secured loan attached, there will be a mortgage shortfall as in negative equity, so this then turns into a unsecured loan am i right and so would the secured loan as there will nothing for it to be secured against once…
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A bit of advice please.
I was just after a bit of advice. If my DH entered into a DMP or IVA would my wages or the house etc be taken into account? We've only just got married and the house is mortgaged in my name only. After paying all the bills I don't have any money left to help him out as well, but I do pay things like the mortgage myself.…
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Thinking Ahead
I have an IVA, but potentially need to relocate where I live to get my daughter into a decent school in about 3 years (3.5/5 years of the IVA done). Does anyone know what happens if you rent somewhere else and rent yours out, assuming you would move back into the property at some point. Obv I would try and match expenses…