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Opening a basic bank account
Hi guys, As some may have read on my other threads I’m looking at applying for a DRO. I currently have debts with my current bank account (a credit card, loan and overdraft). My next payment due out for that is on the 16th. I’ve already not paid my aqua credit card this month (was due on the 1st) and am getting around 5…
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IVA, how far back do they check accounts
Hi guys, really need someone's help. I applied for an IVA 6 months ago after struggling with over 10+ yrs of debt (approx 30k). I've worked 7 days a week since to no avail. It was made worse after having a child 2 years ago and the wife being off for those 2 years (with no income) with son being ill all the time At the end…
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DRO Advice need please
I have a DRO that was granted on Nov 2019. so just a few months in. what i would like advice on is should this still be happening on my credit report? 07/01/2020 Default 07/01/2020Default the rest range back through December Over credit limit Payment status worsening Payment status worsening Over credit limit Default…
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Annual Reviews
Hi all, Just about to apply for an IVA, however, I have been looking for more information about the annual review as it is not very clear from my research what it consists of and how it is done. Do they take 12 months bank statements from all accounts, HMRC check, scrutinise all payments etc.? Would anyone be willing to…
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Timescales for setting up a DRO
I submitted an application for DRO on 23rd December and I called Stepchange today and they advised they have a backlog and it's going to take 4 to 6 weeks before my application is reviewed. Just wondered from others experiences is there anywhere such as Payplan or CAB that can set it up quicker? In hindsight I was going to…
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Setting up a Ltd Company after IVA
Looking for any advice. My partner and I both went through very difficult divorces before we met, which resulted in us both going through some financial difficulty. Luckily we have both come through it and are looking to now start our own Ltd carpentry and construction business. The issue is that my partner entered into an…
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Dro issues?
Hi. I'm new to this but I'm hoping someone can help. Both myself and my husband had a dro in 2017, every month since we've had credit reports from credit karma. There were no issues with the dro, it was all straight forward. Now however, over 2 years later, 4 debts are showing as active and I'm in default? Can they do…
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Expenditures DRO
Hi guys, I did an online debt remedy with StepChange and it came up that they felt the best way forward would be a DRO. They’ve emailed me an application pack and I’ve looked at it. I’m a bit confused as it says my application could get refused by the official receiver as I put down £60 a month for smoking and that’s…
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Paying off IVA
I started on an IVA about 7 months ago, currently paying around £140/month so I have a total of around £7500 left to pay. My original debts added up to around £13,000. The situation I find myself in at the moment is that I am going to be made redundant in a couple of months after 17 years with my current company. I have…
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Questions regarding my debt options and potential DRO
Hi everyone, So I've racked up a small amount of debt (though sizeable to me when considering my circumstances) of over £3K across two credit cards, an overdraft and other things. Currently I'm unemployed and have been for a while but am receiving some universal credit. The main reason for not working is my long-standing…
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DRO information
I am in the process of getting a DRO. I’ve received my application pack from stepchange but they are asking for the account numbers and addresses for all of the companies that my debts are with. I do not have the majority of the account numbers as I only have the information that is on the credit file as I spent years…
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Can't remember all debt collectors
Hi, all, I'm sorry to ask this as I'm sure it's been asked before (but I cannot find it!). I have been advised to go for a DRO, but I am struggling to find who I owe money to as the debts have been sold on numerous times. Canni just put the original creditor down?
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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…
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DRO and small increase in income - hypothetical question
Hi everyone, I was hoping someone could advise I've not worked for most of this year due to getting sacked from a job I was bullied in, I've spent most of the year recovering from a breakdown, a broken back and arthrtitis in my spine...well and truly broken in all senses and in debt. I'm applying for a DRO, but want to get…
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Iva
Hi I have been on iva for a year. Personally I feel I was pressured into taking it as the bloke on the phone seemed to want to make commission on selling me the iva. I not happy with the company .theed is no communication with the company at all and funny there is no record of my payments going to my creditors. Is this…
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DRO ended today...
So it has been a year since my DRO was approved. Does anything happen now? Do they want updated budgets/bank statements - nothings changed that I haven’t informed them about. Can they look at my accounts to check? (Had a couple of payments from kids Dad towards school trips etc). I see people talk about 15 months or…
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Ive been stupid
Hey guys my First post! Me and my partner are in 37k of debt. I spoke to step changers today they advised iva or dmp as we are home owners( No Equity) My worry is 20k of this debt is only 6month ago with several loans with garrantor loans with high interest. Anyhow its come to the point were we can no longer keep up the…
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Want to do dro but maybe earning too much
My earnings are about 1500mnth, and we get about 1500 universal credit Our rent is about 1500 and living expenses only about 1200 Yet we don’t have any left at the end of the month Could I increase my expenses so that only £50 left at the end of the month so we qualify?
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Was I wrong to take out an Iva then go on a debt management programme
Hi all I’ve been on an Iva now for two years, I felt at the time that it was my only choice. I owed just over £5000 an now feel I was put on an Iva which has added debt (their fees), I feel it would of been better going onto a debt management program. I have had two ppi claims during my two years on the Iva. But I cant see…
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Are debt managment plans a good idea?
