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IVA & DRO

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

IVA payments/term length help
So my old car is limping along and I have paid of the finance. My IVA company wish to update my payments from £150 to £321 p/m to incorporate the car payments that have finished. My car is 11yrs old and needs a new clutch, battery and has a bearing issue which amount to the current value of the vehicle! My IVA company have…
Mobile contract and dro
Hi. I’m currently in the process of applying for a dro. My advisor has said I don’t need to add my mobile contract to it as I am still paying this. But my question is, even tho it’s not including and it’s being paid monthly will o2 cut it? I have read on here of this happening and ppl, they are being cut off anyway and…
Is this legal? - Bank reclaiming money 3 years after DRO
Hi I was recently (2019) awarded £130 for fees/charges/interest that I incurred prior to my debt relief order. The money was awarded 3 years after my DRO (moratorium period ended 2017). The bank believe they have the right to hold onto this money 3 years latter. About 6 months after the £130 ( Sept 2019 - three and half…
Protected Trust Deed:Other options
For someone based in Scotland with unmanageable debt are there any other options to be debt free other than a Protected Trust Deed? Regards Nej
Advice on iva please
Hi all I'm new here and looking for some advice, I've just over £6,000 of debt and was struggling to met the monthly repayments, I called stepchange and they advised me that they would do an iva for me, it sounded great in the phone, affordable monthly payments over 60 payments and I dont have to do anything other than…
DRO preferential payment?
Hi, I am decided to enter DRO as for the moment is the best option for. The problem is that I have a guarantor loan, and the guarantor is my mom. When she heard I want to enter DRO she told me that she doesn't want to be responsable for the loan and pay for it through her account. So to avoid this she wants to give me the…
Dro changed addrees
Hiy dro got accepted on 4th Nov 2019 do I have to tell the insolvency service of change of address
So much debt :(
Difficult to write but here goes! I owe over £30k been given the IVA option but I want to payback what I owe. Starting with the small amounts to hopefully get to the large amounts but not even sure if possible, any tips?
DRO questions need help :(
So I’m currently going through the process of a DRO however I’m worried over a few things- do I need to tell my car insurance people I’m subject to a DRO? Also I’ve done overtime for 3 months, I’m getting a letter from my employer advising my set hours/hourly rate etc and this months wage slip will go back to my usual…
Predicting a creditors vote?
I am panicking about the creditors vote on an IVA. I’ve been googling and hearing about companies (MBNA) who always vote no. PayPlan also think new day might vote no due to recent spending on the card. If anyone has any experience with these companies I’d love to know. The proposed pay off from the Iva is 57% Admiral £7000…
Iva f&f partner money
Hi I’m currently about to start year 4 IVA it’s all in my name but they take my partners money into account etc. I’m hoping to offer a f&f of 6.5k which would be year 4,5 and 6 I assume payments (just shy of anyway) now my question is this money would be coming from my partner who has been saving his share of his money -…
Accounts still listed after DRO
I was issued a DRO in April 2014. It was closed 12 months later and I understood all accounts would be closed and that would be the end of the matter. I recently signed up to credit karma and I’m dismayed to find that two debts are still listed on there and have been listed as defaulting on payments since 2014. One of them…
DRO phone contract
My application for my DRO was accepted and O2 is on the list. I haven't PAYG and transferred my number. I could no longer afford the airtime and device plan each month. Will o2 blacklist my handset or can I continue to use it through PAYG because I won't be paying the final bill due to being due to changes in my…
Help!
I have an IVA that I setup 2 years ago. I told them that I have a private number plate, at the time it was evaluated by a random company at £500 but its not worth that much and I have someone that's intersted in it for £200. My question is, do I need to tell my IVA if I sell it? (Because it's not a large amount of money)…
IVA and child’s DLA
Can anyone help with advice, I am in IVA with payplan and am about to make claim for DLA for my son, I understand I have to declare this as income but am worried payplan will ask for extra money as they will say I have been managing so far but I feel this money is for my son as I will be claiming on his behalf. Any advice?
How long for Official Receiver to grant DRO
I'm currently going through the DRO process and have been told by Stepchange that it's going to the drafting team and I should have my barcode to pay the £90 fee Once it's paid how long does it take to grant DRO, I've read on some websites it's 48 hours and on others 10 working days. Is there a set timescale Thanks
Can HMRC do this? IVA/Bankruptcy
Hi everyone, I am asking for a friend so please bear with me if I do not know full details but I can add more here as much as possible as I go. An elderly man living in Europe initially loaned his UK daughter £20k towards a UK home deposit. When the daughter had to sell the property due to some tragic family circumstances…
Mortgage after IVA
I have a question regarding mortgages after an IVA. Recently had an IVA drop off my credit file in February. My experian has shot up to 999 and any negatives and adverse credit has dropped off. My equifax and call credit are still in a fair state but all the information across each agency is correct and up to date. My…
Iva
Not sure if I should do a iva anyone done this
Dro
What are the max allowances when working out your expenses? we are earning £26k pa and our expenses don’t look that much but we really can’t pay our debts

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IVA & DRO

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