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IVA & DRO

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

Debt Relief Order Help
Hi I mounted an unhealthy level of debt what is £11,000 mainly through bad financial decisions by using catalogues and several credit cards. It’s now got to the point where it is virtually impossible with my income and expenditure to cut back anymore and be able to pay off this level of debt. I know I have been stupid and…
Looks like an IVA each, really nervous about how to proceed
Not so much nervous about the procedure around the IVA itself, but about the fact that we need to pay for a bunch of stuff now and across the next 9 months; and what happens after that. We've been teetering on the edge a bit for a while, paying down then having to spend again, but the discovery that we're expecting again…
I've via email/text
Does anyone know of any companies that you can deal with via email or text for an iva? I'm not great on the phone so doing it this way would be a weight off with my anxiety
DRO and change of name
Hiya I've got a quick question I've changed my name by deed poll, I've informed the IS and they've changed my details on the Insolvency service register. Will the IS notify my creditors as they did to advise of the DRO or is that something I need to do, or do I need to do it at all, due the debts being frozen and written…
Ppi claim
Hi. I claimed for ppi after my iva finished 6 years ago. I won but they are paying to my iva. I still have the fees to pay. How do I get them deducted from the payment?
DRO rejection
Hi, I have got myself into a complete panic! We have applied for a DRO through StepChange. I have admitted we payed one debtor but not others, so preferential treatment, the only reason for this was we had enforcement agents hounding us and they are scary and just don’t give up! So made a payment arrangement with them…
I feel like I've been mugged off.
Ok, forgive me if this post seems more from the heart than the head. It'll be as brief, yet as concise, as I can as I do waffle on when I get going. In 2014, the wife and I entered into an IVA. We (collectively) owed just over £20k. We signed the paper work which included our mortgaged property to be taken into…
IVA help wanted asap please!
Hi all I'm currently into a two year DMP with PayPlan and it's simply not working. I am paying up to £300 a month and I feel the balance just isn't going down at all and still have several more years to pay it off. I looked for help and was offered an IVA. However, I have been having some doubts. My car is worth around…
Obtaining car finance while in an IVA
I am currently into my 4th year of an IVA and don't currently have a car due to being unable to obtain any sort of finance for one. Any suggestions on how to get some sort of finance whilst in an IVA?
Iva / citizens advise
Hi, I currently have an iva with step change but my son has just left school and this going to have a massive impact on my payments as my income has reduced with a job change also, but now I've no idea how much impact it will gave on child benifit and tax credits. I would like to try to remortgage to a better rate and…
DRO car insurance pay monthly
I am currently on the insolvency register and I am looking for car insurance for my car and I am unable to pay upfront. I understand that I must not obtain credit of £500 or more, without first informing them that I am subject to a debt relief order. Does Pay Monthly car insurance count as credit ?
DRO & beneficial interest
Hi guys, can I please ask for some advice? Ive currently got just over £12K of debt. Went through NDL for help and advice. They originally recommended a DRO but then advised wouldn't be possible due to beneficial interest. I moved in with my partner 10 years ago. The house is solely in his name and is mortgage free. He is…
Transfer money from old account to new one
Hi I am in the process of entering into an IVA, I have had to open a new bank account and was wondering as I'm in my overdraft if I need to transfer any remaining money left in the account up to my overdraft limit, otherwise I won't have any money until my next pay day?
Ppi
My iva has been terminated since then I am entitled to a ppi refund what will happen to it
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…

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IVA & DRO

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