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IVA & DRO

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

Missed payments before DRO
So, I stopped making payments towards my debt at the end of January when I started the process of getting a DRO and I'm receiving a lot of phonecalls already. I have pretty severe anxiety so just don't answer but I've checked who they're from. Anyway, my DRO is about ten days away from me making the payment of £90 but I'm…
Bankruptcy or wait to see if DRO limit increases
Hi, I’ve been reading the forum for advice for a long while now. I have debts of around £28,000 , rent my home and had set up a DMP which I have now had to stop due to a significant change in income. Stepchange have given me lots of advice ( I haven’t yet sought help for this). I have been since December 2020 preparing to…
Banks Accounts with a DRO
Hi all. I'm currently in the process of going through a DRO. My question is bank accounts once the DRO is accepted. I currently have a joint nationwide flexbasic (this was originally for bills) we then decided to open a joint natwest silver reward account for insurance etc. I have a sole account with natwest that I…
IVA and Credit Report
Hi all, Apologies if this has already been covered on here, but I have been doing some digging and yet cannot find a satisfactory answer as of yet. I have been in my IVA with Vanguard/Ebenegate since 2017, projected to finish in August 2022. I have also signed up to Credit Karma and Experian credit reports, but there is no…
Dro credit report
Hi, I was granted a dro on 8th February 2020 so I'm relieved that the 12 months is now over with. I didnt check my credit report in that 12 months, think I was too scared! Today I have just checked it and it states.....3rd July 2020 court date then underneath it states 3rd July 2021 set aside.....what's that all about,…
Can a bank withhold your money on an IVa?
I entered into an IVA on 14/12/20, it was suggested to open a new account with a new bank. I have done this with TSB, I then transferred money to this new account. They are not allowing me access to these funds without a letter from my IP (step change) giving me permission to access the funds. Are they allowed to do this?…
Could I lose my home.
Hello everyone and thanks in advance for any help. I am currently working with stepchange in regards to my debt, but it is in the early stages, I’ve completed their SOA and now I need to call them, hopefully they will be working tomorrow if not I’ll do it Monday. My situation is this, I brought a home with my partner 9…
Woolard Review - change coming?
Some changes proposed are: Across the UK there are multiple regulators covering different aspects of debt advice and debt solutions and it is essential that this does not lead to divergent outcomes for consumers who are in financial difficulties. The FCA, Insolvency Service and Accountant in Bankruptcy (Scotland), with…
Help please
Hi, thank u for reading this, please be kind in the comments. (Mentally unstable right now tbh) so I am in third year of Iva and I have applied for a loan to cover the Iva. Now the property belongs to my husband who bought it before marriage and everything concerning that is in his name, I am trying to prove that it never…
DRO budget questions.
My DRO application kind of stalled because of the way the budget sheet works through stepchange. I found it hard to separate some costs and as I've been struggling, I've been going without most things so wasn't sure what I would budget for things. also my ingoing money can slightly alter, they have put a figure for child…
Requesting payments after Iva settled
Hi, basically I took out an IVA in 2015. The company went into administration and was took over. That company then went into administration and was took over again. In 2018 my income changed, I called and called and couldn’t get through so emailed several times with payslips. Fast forward 2 years (with no annual reviews…
Disability Money??
Good evening everyone,I currently have an IVA setup but my income is possibly about to change. My payments to the iva are worked out from the two benefits that I get, ESA and DLA. I have been informed that due to my condition my money will go up as i am classed as severly disabled by the government. The extra money will be…
Guarantor for IVA
I have an IVA due to being a Guarantor for my son. I'm 2 years into it and as a homeowner still have 4 years left. I have continued to make the £170 a month payment even though I was furloughed for 10 weeks last year due to Covid. I included my credit card into my IVA also. What I'd like to know is can I claim that as…
Considering an IVA ..a question please
Just considering an IVA and will of course take advice from one of the charities but i would like to know if I have say 5 creditors and 4 vote yes but 1 does not , does the creditor who votes no have to legally abide with the propsal? Thanks
Moved: F&F Settlement
This discussion has been moved.
DRO Application + Car Valuation + 22 year old car
My car is a 22 years old Volkswagen Passat, handed down to me by a family member, for free. Neither of the websites stepchange recommend give me a valuation based on my number plate. What am I supposed to do? Surely when your car is a common brand not like a Bentley or something and over 20 years old, a valuation is kind…
Feeling anxious
Hi I did post this on another forum but it got closed I’m feeling so so anxious I’m beyond shaking and dreading going to bed tonight as I know il not sleep I hope someone can shed some light on my situation that’s making me feel quite anxious.I recently entered into a DRO and it was accepted and started on 17 dec 2020, all…
DRO, what's next?
So I scanned and emailed everything to Stepchange early yesterday morning and spoke to an advisor on the phone who helped me with my budget and talked me through my options which were just the DRO. What's next though? How long until I need to do anything else? I've got my new basic bank account with Co-op, I've moved over…
DRO Questions
Hello everyone, I have been reading this forum for quite a while now to gather as much information as I can, Finally decided to sign up on forum and post few questions (sorry if any of them might sound bit too obvious or silly) I have a debt of around 10.000£ I did online tool with Stepchange and was recommended DRO First…
DRO Query
Firstly, I would like to say a massive thank you to the people on this board; in particular, Sourcrates and Fatbelly. Your collective knowledge has helped me loads over the past two years. My story, I was granted a DRO 08/01/2020 and I have just completed my one year moratorium period. I have taken screenshots from the…

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