We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

IVA & DRO

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

DRO and new bank account
good afternoon. I am half way through a DRO and wondered if you are able to open up a Monzo bank account whilst in an active DRO? every month i seem to have issues with my current bank and wondered if i could open another? that’s if i would even be accepted for a basic account.. any help would be appreciated.
HELP WITH IVA 😳
So this is my second year paying my Iva off I’ve just done my review my advisor is now saying if I earn above 1300 per month I have to pay an extra 50% to them (that’s fair enough) how ever my wage goes up and down all year for instance this month I got 950 but last month I got 1450 now if I’d paid the extra to them last…
Creditfix IVA added more time
I got my IVA with creditfix in 2021 for 5 years in 2023 they emailed me to say because of the cost of living they were lowering my monthly payment which I accepted till later I found out they add more time to my IVA. It is ment to end march 2026 and now I still have 30 months left when I called and complained they said it…
Can a DRO be refused?
Hi, I’ve completed everything with National Debtline , they’ve now passed it on Citizens Advice. I should get by end of next week. I’m quite nervous as nothing goes my way lol, any reason for the DRO to be refused? How many months bank statements do they want? Do they want statements of all banks? For a while I borrowed…
I’m about to submit documents with CAB for a DRO
So Citizens Advice got in contact and asked me to provide documentation of my ID & link my bank statements. I’m only now applying for a DRO due to a relationship breakdown, my now ex is no longer in my life & helping with bills as of last week. I’m now on my own and bills are all on me and can’t afford my loan & cc…
Moved: CAB DRO/Linking bank account online?
This discussion has been moved.
DRO advice
I've just had a DRO approved, around 20k debt. I'm unemployed struggle to hold a job down for a few years due to depression and long term health condition, basically thinking i can work out this rut but ended up pretty much breaking down cant hold a job or be around people for more than a few days. So i did the DRO as need…
IVA lump sum settlement fees
Hello all, 5 years ago I took out an IVA to help with debt problems. I have just completed unsuccessfully the remortgage clause and was told I could make 12 more monthly payments. At about the same time I took voluntary redundancy so I am now being told I need to pay a lump sum settlement which below is the breakdown of it…
IVA F&F Sprout Loan
Just wanted to give my experience on clearing my IVA early using Sprout Loan. I had done so much research and appreciated people posting their journey, which is why I am sharing mine. I have spent 15 years juggling historic debt and carrying it around like a ball and chain! Our combined debts were very high for many…
IVA now wants equity on the house
My partner and I are not married. But we do have a mortgage together. He ended up taking out an IVA 4 years or so ago to cover the debt from his ex-wife. He is the main income earner, I'm self employed but don't bring in more than £500 per month. We have 19 years left on the mortgage, and fixed for a new deal in January. I…
DRO - Appointment next week
Hi, I've spoken to CAB and they have advised that a DRO might be for me, I've got an appointment next week with a DRO caseworker, just wondering what information I need to give them if anyone can assist me please? Cheers
Step Change recommending IVA?
Hi all, Looking for a sanity check really because I'm at the end of my rope. Basic numbers are that I'm £59,000 in debt, pay £1,150 a month in repayments, have a joint mortgage (£191,000 on a £230,000 valued property) and am left with about £150 a month after all payments. I've never missed a bill but I'm at the point…
Moved: Paying debt management plan balance
This discussion has been moved.
Moved: Debt advice for moving abroad.
This discussion has been moved.
Missold IVA
I finished an IVA just over a year ago, this January I had an email from Missoldiva.org saying I may be able to claim back some overcharged, it then said I'd receive a document from a big law firm 'Taylor Rose' with a document I'd need to sign...i haven't received anything, so I rang Taylor Rose and they said they deal…
Contact creditors after 12 months or 15 months after DRO?
Hi there. My DRO ended in December and just curious about the post DRO cleanup. So far only a couple of my creditors from my list have updated my credit file with 'satisfied' and closed, a loan and an overdraft. Then one credit card removed the sum owed, showing zero and just marked it as 'Delinquent' but still open. Is…
Expired Debt Relief Order - Am I able to get a job?
My Debt Relief Order (DRO) expired a few days ago. I am currently semi-retired. I am interested in looking for part-time work. Will I now be allowed by the DRO Office to seek employment, please? Thank you.
IVA or DMP on Maternity
Good afternoon, I need some advice. I have debts totalling £8800 and currently on maternity leave so cannot afford to pay more than £50pm on my current DMP. I spoke with Payplan to update on my current situation and they were advising either an IVA or Bankruptcy. Prior to being on maternity leave, I was paying £541pm on…
IVA best choice?
I have debts over 40k , no assets,living with partner housing association. Work full time , debt spiralled interest etc spoke with advisor about options not sure which is best! Currently planning on IVA not sure if best option plz help! Is it best to let creditors chase me and arrange a payment to them?
Private Van Insurance with IVA
I'm having enormous difficulty finding insurance for my van because of my IVA...I cannot afford 12 months up front....does anywhere just do 6 month cover or any advice please?? Thanks

★ ★ ★ Meet your Ambassadors

Confirm your email address to Create Threads and Reply

MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

View All

IVA & DRO

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free

IVA & DRO

Discussion List

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free