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IVA & DRO

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

DRO creditors
Good evening you lovely people Just a quick question to run past you, in case i need to act further. I am currently in a DRO, due to finish in September, all was fine amd straight forward. I received an email from a completely different company saying my debt has been passed on to them now and want to arrange a repayment…
Reality is hitting hard
Hi folks, new around here, sorry for the obscure username, trying to remain anonymous as possible as may be people we know who frequent these forums and put 2 & 2 together. I'll be doing the posting but my wife is also here and reading all and occasionally be putting her comments in. We're rapidly approaching a point…
PPI settlement after Trust Deed (Scotland) discharge
Hello looking for some advise here. I was discharged from a Trust Deed (Scotland) 3 years ago and recently received a letter from Clydesdale Bank advising that after a review of a successfull PPI claim made in 2016 (by my practioner) I am due a further payout. In this letter they have included an acceptance form that asks…
Moved: Health Insurance
This discussion has been moved.
Purchase of cryptocurrency in a DRO order
Hi I was made insolvent a couple of months ago, can I make a long term investment of £250 into cryptocurrency to withdraw after my dro has ended? Thanks
Post IVA - bank fees repayment
Hi all I had an IVA between 2014 and 2017 which was paid off in a full and final settlement as I was made redundant. At the time, I signed something to say that any PPI I received post IVA would need to be paid into the IVA even though it had been settled. I have recently had a letter from my former bank saying they have…
HSBC updating my Equifax in a dro order
Hi, I entered a dro order around 2 months ago, and in that time, a lot of my creditors have left me alone and the dro has been a great help. However HSBC has updated my account two times with added charges and marking my account as a missed payment, I’ve rang them 3 times to supply a dro order number, no one knows what to…
DRO limitations
Good evening Just after some guidance, and who better to turn to then the people who supported me first place, when i applied for my DRO it was highlighted that 'if my circumstances don't change, my debts will be cleared', what does that mean exactly. Are they referring to if i win the lottery or something to that effect.…
sorry for another question
Sorry for another question. I have £800 in shares, I know your allowed £1000 in assets but what would happen if they went up in the time I was in a DRO
IVA / Mortgage Query
Not sure if this is in the correct forum section, apologies if not. I currently am in an IVA - I'll be in a position, where, after one of my grandparents unfortunately passed away due to COVID, i'll be in line to receive a windfall of approx £30k in the next few months. My IVA settlement figure as of last month, was £12k,…
IVA 4 months in & bank accounts
Hello, Long story short, I started my IVA in January and now my finances are more settled I want to just have the one bank account not two. I have a standard NatWest select account (created for my IVA) however I banked with HSBC for 16 years plus, of course HSBC closed my accounts down as they are my main creditor but…
IVA settled post separation, can I ask my ex to pay half of the settled amount?
My wife and I entered into an Joint IVA when we were together as we had no way of coping with our level of debt, around £20k. Part of this IVA was £11k of debt from a previous relationship that my wife had described as "only a few thousand" when we met, I was shocked to say the least when I found out the truth. We…
IVA when you are a homeowner
Can an IVA affect a remortgage. I am 4 years away from remortgaging since we started our mortgage a year ago. We’ve managed to get ourselves into a deep dark hole with debt and it’s looking likely that an IVA is our only option now. I’m so worried that if we agree to an IVA that we won’t be able to remortgage in 4 years…
Advice needed please
I never knew about DRO and was thinking of going bankrupt. my question is about what expenses is realistic. I have 4 daughters 15, 12, 9 and 3. I pay £590 PM CSA. I also have them 2/3 days per week. so what's a realistic clothes budget, shopping budget, pocket money. just want to get the process started but also need to…
Gift of £1000 on DRO
If you were to receive a gift of £1000 while under a DRO will it get revoked? I'm on Universal Credit and no longer receive DHP so this will mostly be used on living costs if received.
Discharged from DRO future prospects of joining property ladder?
During my late teens up until the age of 21 I was irresponsible and racked up about 18K in debt. I was living above my means and had no disposable income, I completed a DRO which I was discharged from last year. I’m now 23 and have turned things around, I have a good job with a decent income and have saved up about 15K in…
Dro help
Evening My wife had a dro that finished 2 years ago everything fine finished after 12 months now suddenly crapquest have been sending letters and constantly phoning about an argos debt from 2011 that was on the dro the problem is my wife has lost all the paperwork and dro number and we don't know how to get a copy to send…
Blocked accounts
Hi. My partner is 2 years into an IVA. When he was a child his mother set up a savings account for him in both their names. Yesterday she tried to gift him £4000 for furniture for his new rented home. It wouldn't let her do it online. She called the bank and they've said both of her accounts (one she shares with him and…
Santander - Being Difficult
Hi I hope someone can help, I agreed an IVA in 2015 however it failed in 2017. I note that there are defaults on my credit file later than when the IVA was agreed and I have written to those accounts and provided evidence of the IVA and they have agreed to amend the default date all but Santander who have said they want an…
Dro Advice
Im jordan just after some advice if possible please. I spoke to step changes about my situation which they recommended a Dro. My debts are a total of 19100 consisting of a loan couple cc cards and store cards. For the past 18 month or so i have been paying each creditor £1 token payments But i have been payinfg back my…

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IVA & DRO

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