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What costs are allowable on an income and expenditure sheet?
Hello, everyone. Just a question about costs on an income and expenditure sheet (statement of account?), please. When submitting an income and expenditure sheet to creditors, what costs are allowed? I ask because the range of spreadsheets out there online differ, with some specifying more than others, and some with just…
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Iva to Dro?
Sooo, My circumstances have changed since starting my IVA. I have my baby due in november.. literally found out was expecting the day my iva started.. I opted for the Iva as at 23k debt did not qualify for Dro back in december when i first sought help to get out of debt. Otherwise i would have liked to have gone down the…
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Mortgage during IVA term
Hi. I took out an IVA last year. My partner and I are joint mortgage holders on a property but we have now decided to separate. My partner is planning to release equity from our property in order to buy me out. If I pay off my IVA and have enough for a deposit on a new property, would I be able to get a mortgage given that…
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Change of circumstances during IVA
My English is quite poor so I'll try to put it simple in hope you'll understand what I'm trying to ask. I've just started my IVA with monthly payment of 70£ and earnings of 1700£ but due to change of circumstances I'll be earning around 2500£ per month now as I understand I will pay around 300£ extra to my creditors each…
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IVA Settled Query..
Hi all, I was in a position yesterday to settle my IVA in full. However, the insolvency company, though confirming they have received the funds, have said this is now with their closure team... and stated i'll receive my completion report once the account is successfully closed - also that this process takes 3-6 months. Is…
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DRO query
Hello, all. Just a query about a DRO, please. I am considering applying for a DRO, but something has come up and which has stumped me a little. I have been in touch with two of my three creditors (two credit cards, and one a friend) about my situation over the last few years and haven't paid anything due to my low paid…
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IVA early settlement advice
Hi all, i can see this has been asked many times over the years but i would appreciate your impatial advise and expertise. For a bit of background... I have an IVA after my family business closed down. I am about 18 months in to it the agreement. The IVA is for around £70,000. Since all the really difficult times have…
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DRO and Employment
Hi all, I "may" have the possiblity of getting a job before my DRO is finished, so my question is this: At the moment my flatmate is allowing me to live here for a hugely reduced rate while I am on UC, if I do get a job my flatmate has made it clear that I will have to stump up more. So I know I would have to tell the…
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Applying for DRO
Hi I'm currently in approx £15k debt, possibly more. Multiple creditors, council, HMRC and my landlord. I was in talks with a debt advisor back in March at my local council and she wasn't going to put me forward for a DRO but I got scared and backed out. Last week I received yet another letter from the courts regarding a…
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Unfair IVA managers?
We entered an IVA for personal and business in 2018. At the beginning the managers said they would cap their costs because we are in bad shape. It has been a long drawn out affair, selling properties was difficult before the virus but now we have them back on the market, fingers crossed! My problem is the managers are now…
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Considering cancelling my IVA
I have, so far, paid 35 payments to my IVA. Recently I have been lucky enough to secure a new job with quite an increase in salary. As a result, my IVA review has determined that my payments need to increase by almost £400 a month. Having done the (basic) sums, I think that I will be paying more back than I actually owe to…
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Mis Sold IVA Help
Can anyone help with how I would go about a mis sold IVA? The IVA was taken out in August 2018 with CreditFix who pushed the IVA on to me & made me lie on my expenditure form. They contacted me first, I was 19 at the time and didn’t know what I was getting myself into. I paid the IVA off in full in November 2020 which was…
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IVA - was I mis sold?
I entered into an IVA in December 2020 after getting into some financial difficulty. When I contacted a Debt Advice company, I wasn't aware of what an IVA was and was initially looking to consolidate my loans. I was quickly advised that the best option for me was an IVA as it is the quickest, easiest way to clear debt and…
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DRO?
Hi. I've been a fool and got myself about £18500 worth of debt. After an incomings and outgoings review I'm left with about £50 per month so I qualify for a DRO but I have been told that they are more complicated than they seem. I'm on £20000 per year and if I get a better paid job within the DRO time period (usually a…
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Iva and car finance
Hi all, I recently started my IVA in may of this year. I have a car on pcp finance that I started on November 2020. I was under the impression, thanks to my iva company, that I would be able to take another car out when this has finished. After doing some research it seems this is very unlikely! however, my balloon payment…
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Debt included in DRO sold
Hello I’m hoping someone may be able to provide me with some advice. Due to debts which she couldn’t pay my sister has a debt relief order which started in April. Two credit cards she had with Virgin were included in this. However since the debt relief order virgin have continued to call and write to her asking for payment…
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Contemplating a DRO
I have approximately £6,000 of debt, the majority being credit cards. My hours at work have been drastically cut, so I am no longer able to keep up the repayments on these cards and a few other debts. Before I go ahead with my DRO, I wondered what details I need concerning my credit cards when I fill in the forms?…
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Dwp overpayment under dro
Hi I'm looking for some advice if possible. I entered into a dro back in 2014 which has now been fulfilled for many years. One of the creditors was hmrc, they passed the debt onto drysden fox who I then contacted with my dro & they passed my case back to hmrc. I then received a letter from rossendales to say they were…
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FCA take action on IVA lead generators
https://www.fca.org.uk/news/press-releases/fca-takes-action-against-debt-packager-firms It's a start...
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Taking someone to court who has an IVA
I was looking to start a claim for money from a builder who completely messed up an extension on my house. I have recently found out they entered into an IVA and I can see they are on the Individual Insolvency Register. Is it possible for me to still bring a court case against them? I believe they were aware that I was…
