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StepChange won’t talk to us about our IVA - catch 22
We are in a massive catch-22. In Jan 2012, we started our IVA with StepChange. As our house was rented out and tenanted, part of the agreement was that at the end of the payment term (2 years ago), funds would attempted to be raised to pay off a greater amount to the creditors, the main one being NRAM. Roll on to this year…
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IVA Preparation
Hi and so glad I found this forum ! Looks pretty much like I will be applying for an IVA pretty soon. I have done a lot of research and have engaged Step Change (plus a few others) and have chosen to go with SC should I press ahead. Although my wife and I have both separate bank accounts, we do have a joint account where…
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IVA help
Hi guys, any help would be appreciated. I started my IVA in November 2018 and my payments were set at £85 until my car finance was due to finish in December this year, and it was then set to increase to £175. However, I started a new job a couple of months ago and was involved in a car crash which led to a significant…
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IVA finished, questions remain
1st post here so please bear with me, this may be complicated! We started an IVA in 2014 with Harrington Brooks, in 2018 HB went into administration and the IVA was taken over by Freeman Jones, now called the Financial Wellness Group. Total debt was around £16k. My wife is a self employed costume maker, I work in the…
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Being a Rent guarantor for someone with an IVA
Hello, I have been asked to be a rent guarantor for a close family member who has an IVA. They are very good with paying their rent where they live currently but need to move to a different property. I don’t mind being their guarantor however I am planning to purchase a property myself in couple years time after renting.…
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DRO completed years ago- still receiving a statement about what I owe
Hi All, I'm hoping you knowledgeable people may be able to advise. I had a DRO in 2011 completed 2012. Periodically I receive statement of account from Santander {who were one of the included creditors). The statement is not asking for money it just says account statement my name etc and amount you owe. I know I should…
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DRO application
Evening all I am about to apply for a DRO on the advise of stepchange, they have asked for 3 months pay slips, but I get paid weekly so therefore get a pay slip every week. Would I have to provide all 12 consecutivly, or just 3 latest? Thanks I'm nervous now 🙄
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Dro and its long term effects
Hi I'm in the process of applying for a dro and wanting some advice on its long term effects I understand that after 12 months the dept is cleared the dro stays on your record for 6 years and has a big impact on your credit rating but how much of an impact does it have will it effect me renting or buying a house in the…
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IVA, Divorce & Property - Help!
Hello, I am thinking about seeking some legal advice but just thought I
would see if anyone has been in a similar situation and get some ideas .... My husband and I split up in October 2018 and both entered into
an IVA. I moved out of the flat we both own as joint tenants and I now
rent a lovely flat. Our divorce was…
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Service charge overspend
My service charge company have just informed me that they overspent last year by £24k! Are there any penalties against this? Surely a company can't overspend by so much and expect the leaseholders to pay it all back, just like that? Any advice would be gratefully received. Many thanks.
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DRO - Proof Of Income/Expenditure. Time Period Taken Into Account For Income and Expenditure.
Hello all, I'd like to ask the following particularly to people who have been through the process of getting a DRO. 1) What time period is taken into consideration regarding my income and expenditure when applying for a DRO? For example, are my last 3 months bank statements/receipts needed? Are a certain number of years…
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IVA Paid Off?
Hello! I'm currently in an IVA with Creditfix (originally through another IP but was moved a while back to them) and I want to make sure I have the right understanding in the way I believed the IVA process to work. I started in 2017 with just under £30k of debt, and now 3 years in my credit file shows two accounts with…
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Am I eligible
Just roughly, Would I be eligible for a DRO if my debt is 14k over 15 creditors, my income is £1211, my outgoings are £1170, with a small baby to bring up and care for. I have no assets, so savings no nothing of value apart from the clothes I wear and they have holes in? Just for a bit of guidence on weather I'm doing the…
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DRO - circumstances change
Hiya all I'm doing some research in to a DRO, which I may go down this route, rather than bankruptcy just not sure.I read it says after the 12 months 'if your circumstances change' then debt will be written off, well if I went ahead and applied for this, then my monthly payment to stepchange will stop (currently on a DMP)…
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Completed IVA and PPI
Hi, I recently applied for PPI on my late Husband's bank card. I received a letter today telling me there was some money owed but, as my Husband had had an IVA, they said it would be paid to that even though it was completed 9 years ago, (my Husband passed shortly after the completion). I have sent the IVA company an email…
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DRO?
Hello, I've recently contacted Stepchange as I was hoping both my husband and I would be able to get a debt relief order, however they are saying we have too much surplus income and also that some things on our budget are too high and would be questioned. They have since offered a DMP instead but I just can't see how we…
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Payment holiday
I am in dire straits at the moment, I work for the NHS but I also do agency work on a self employed basis to make ends meet, I have worked in my normal job in radiology as a support worker throughout the pandemic but had no agency work, I have an IVA from a previous relationship breakdown and never missed a payment but I…
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What happens with my IVA if I have more debt after I have submitted all my information to my IP
Hey guys Let's say I have 100k debt and my application has gone all the way through to the creditors and is successfully in its application. But now they check my accounts again to make sure the debt is the same as in my application and see I owe an extra £3k on top of the initial debt. Also that this extra debt has come…
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Iva outcome
Has anyone had problems with their IVA meetings being adjourned all the time. This is the 3rd time in a row that it's been adjourned, the company doesn't ring us to let us know what's happening. We have to contact them. I appreciate they maybe very busy but their customer service skills are rubbish. When we do get hold of…
