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IVA & DRO

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

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
Debt Management Plan
Hello, I'm really hoping for someone to give me some advice. I have unfortunately got myself in a mess with money over the years. Credit cards when i was younger then a loan to pay the credit cards, then spent more on credit cards to get another loan. Now i am really struggling to get by each month with the payments. I…
Yearly review
Hello all, I'm currently doing my yearly review of my income and expenditure and noticed that they have put my council tax reduction in as an income but have also put the reduced bill after reduction as an expenditure. Surely if they are classing the reduction as an income then the full bill should be used in the…
Not sure what is the best way forward
Hi all, Let me start by saying I'm dealing with CAP for my debt issues, and have spoken to StepChange too. I am a student with no income, but this will likely change to around £2k/month in July. My debts are all credit cards/overdrafts with no missed payments until this month, where I am now making token payments of a £1…
Payplan/Stepchange budget help
Hi, I’ve put my SOA on here before but I’ve since updated it as some incomings and outgoings have changed based on life circumstances. I’ve been to CAB today who were lovely and agreed a DRO would be the best option for me. They looked at my SOA (see below) and said there’s nothing out of the ordinary and all looks good.…
IVA year 6 - declare bonuses?
I've just come to the end of my 5yr IVA and have agreed a further 12 months payments to close it all off. My IP seems pretty relaxed and has said they don't really do much of an income/expenditure washup at the end. My question is if I get any bonuses during the next 12 months do I need to declare these and pay the surplus…
5 years finished paying IVA
Hi, First time posting. Basically my 5 Yr term has come to an end on my iva, from the beginning they have said they will look at equity at the end of the term etc. They forecast I would pay £9k back over the 5 yrs out of the £17200 and pretty much 10k would be written off. Great I thought. They have been in contact and…
IVA completed can I get payday loan refund
My Iva was completed may 2018 I had 11 payday loan lenders included in Iva can I complain to get refund off interest for mis selling to me as they were unaffordable from them
Joint loan
Hi i took out an iva and this was completed a couple of years ago.one of the creditors was for a joint loan which i had with my ex wife.she recently was contacted by the creditor saying the balance was outstanding. I thought including the debt in my iva would have just got rid of the debt.As far as im concerned im now debt…
DRO - inconsistent credit report
Half way through my DRO some creditors have closed accts others wiped balanced to zero and some are putting on defaults for non payment. I'm really confused as I am aware that the DRO will be on my credit report for 6 years but I don't want a years worth of red defaults on each of my creditors. What should my credit report…
IVA completed but being chased for info
Good morning! This is my first post, so please bear with me. Back in April 2019 I was extremely lucky to be able to pay my IVA off in full. This was due to my partner remortgaging and being able to give me a lump sum of cash. I now pay him back each month instead. I received my IVA certificate of completion and PayPlan…
Applying for a mortgage with IVA and Default
Good evening Looking for some advice or if there has been any similar situations on applying for a mortgage with an IVA and default. My partner is in his 4th year of his default (£4k) and I have completed 6 years Oct 2019 of an IVA. The IVA was for a Halifax loan. Although the loan was paid off initially fine for the first…

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IVA & DRO

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