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IVA & DRO

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

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…
Renting after a DRO
Hello Me and my wife have had a DRO in the last couple of years, but have been cleared now for nearly a year. Our current landlord is a friend of the family, but unfortunately he is having to sell the property we live in. Looking around estate/letting agents, we've seen a few places we like, but every time we apply, we are…
IVA support and discussion thread
IVA's. There is a lot to talk about so I have started this thread for anything IVA related. Whether you want to debate any aspect of an IVA, ask a question, share your IVA journey including high and low points or offer support, are thinking of starting an IVA and have a million questions or having completed an IVA you want…
Restriction against Land
Hi, I am looking for some clarification please...? My Ex-Wife applied for an IVA late last year. We have a joint mortgage that I’m paying, although we agreed to sell this year. I have a letter asking me to consent or object to a restriction against the land. I am wondering if this will stop us selling or make it harder to…
Telling parents about IVA
Hello everyone, I am about 6 months into my IVA so still a long way to go. The main issue I have at the moment it my husband and I live in a house owned by my parents and they want us to take on the mortgage. My husband is aware of the situation but my parents are not. I have looked into the possibility of getting a…
Used Paypal finance by mistake while on IVA
I unknowingly had Paypal credit set as my default payment method when paying for things via Paypal. I wrongly thought that these payments were using any money I had in my Paypal from selling things on eBay and didn't really keep an eye on what was going in and out of the account as well as I should have. At first I ignored…
Does your credit file change 6yrs after dro?
Can someone get credit easier when the dro record drops off your file?
Barclaycard refusing to write off £8.2K DRO debt
Hi everyone, Has anyone else had problems with Barclaycard refusing to write off debts included in their DRO? Mine was in January 2018 and the debt was for £8.2K and was clearly included in the DRO. I've written to all the credit agencies who then further wrote to Barclaycard querying the matter. One credit agency later…
Can a mobile operator cancel my phone contract if my other one (with them) is in a DRO?
Hi All, As well as several other debts I now have a CCJ for rent against my name and I've been to see the local Citizens Advice who are going to do an experian credit report on me and see if I'm eligible for a DRO as it seems like the only feasible option for me due to mental ill health. I have two phone contracts in my…
Is an IVA right for me?
I have 32,000 pounds worth of debt and earn 33,000 a year. I’m currently on maternity leave which has forced the issue because I can’t afford the repayments. Payplan have suggested an IVA with repayments if 500 a month once back at work. On one hand, This seems higher than I have seen for many IVA’s but then again, is less…
IVA with Payplan - advice
Hi, I think I have finally decided to go down the IVA route and have spoken to Payplan about it. I am around £80,000 in unmanageable debt due to my marriage breakdown and subsequently living on a single wage with all debts in my name. I worked through my outgoings and I have approx £480 left to pay back per month which…
No more than £500 debt whilst in a dro
Hi, my dro is due to end in may... I'm wondering if anyone has ever got a contract whilst in one as it states you cannot get more then £500 credit... would this class as credit... it would only be a small contract as needed for my son:beer:
Urgent Advice please
Hello Some advice needed please as have a "gut" feeling if it's too good to be true.... Myself (23k debt) and partner (16k debt) living together (council rent so non homeowners) with x 1 15y dependent child have been speaking apparently to a IVA charity who after doing the sums have recommended both of us have IVA with 2…

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IVA & DRO

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