We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

The Forum is currently experiencing technical issues which the team are working to resolve. Thank you for your patience.

IVA & DRO

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

Switching banks
Hi I'm after a bit of advice please. Unfortunately it looks like might have to go.down the iva route. As most of my debt is with my bank I have been advised to switch my bank account. The recommendation seems to be a Co-Op one On looking around the net, most seem to be going for the Co-Op cashminder (basic) account. If I…
HELP! IVA Cancel or Keep?
Hi All, First time I've created a thread and really interested to know your thoughts.. Initially I thought an IVA was for me and for 2 and a half years it was... in the last 6 months my circumstances have changed, resulting in me looking for somewhere to live. In an ideal world, I would like to look at a mortgage but I'm…
Recieving PPI after an IVA Closure
Hi all Newbie here. Long time watcher first time poster. Will try to keep this simple. My IVA completed in 2017. I submitted a claim fo PPI earlier this year and it was found I was owed just shy of £1,000. Months have passed so I contacted the bank(RBS) and was put through to their insolvency team. They stated as there was…
Life after a DRO & business accounts
Hi there, It's now been a year since I have been discharged from my DRO. Since then I have gotten married, moved and become a qualified nurse. My husband owns several limited companies and would like for me to added as a director of them and to the business bank accounts. However, just before getting married, our joint…
Confused and a bit upset about DRO
Hi Guys, I have been reading the threads and saw some information from the money advice service that has reassured me somewhat, but it was a while ago and my partner now earns so I am not sure what to do, having spoken to my advisor has worried the hell out of me and is making my anxiety skyrocket. I have also been told…
Completed IVA and PPI
Help needed please I had an Iva from 2011 and completed in 2015. My original debt was £12,400, and the IVA company asked me to check for PPI which was claimed back and they received this in 2015. The total amount paid to the IVA company from myself and the PPI was a total of £15,136. I received my completion certificate…
Iva settlement help
Hi I'm looking for some advice if anyone can help me. I entered an iva in march this years, iv been keeping up with payments except for one month I had a payment break to recover repairs on my car.i owed my creditors around 18000 when I entered the iva I'm paying the minimum amount £80 per month I have 72 months left to…
DRO help
Hello, long time lurker. I am thinking of going forwards with a DRO - stepchange are supporting my application, but I have only just sent the first paperwork lot off. I received a £4k payout last year from an employment tribunal, it was spent on learning to drive, car insurance and my honeymoon - things that, had I been…
How/which creditors voted on your IVA??
Hi, I’m currently awaiting my IVA’s creditors meeting next Wednesday and they’ve given me a brief idea on how the creditors should vote, but I’m just wondering from anyone’s personal experience how they voted with you and if your IVA was approved?? Mine are: Bamboo TSB On stride Sunny Mr Lender arrears in housing benefit…
Credit Score After Debt Relief Order
Hi all, This is my first post. I am coming to the end of my 6 years of having a debt relief order visually on my credit files (wahoo)! I was curious if anyone had served their 6 years and what their credit score changed too! My scores on Credit Karma have been consistent for months. They have been: Apr 497 May 504 Jun 504…
counselling fees..
hi everybody could anyone tell me whether counselling fees will be accepted if i apply for a DRO? im currently paying £80 per session once per week. will these fees be accepted or will they be discounted as they may change if my counselling sessions end or reduce in frequency? thankyou.
IVA vs. DMP? Specific circumstances
Hi all, I have a specific question about pros and cons of an IVA or a DMP. Basically, I have debts amounting to 35k and have calculated affordable repayments of around £400 per month. Editing figures via StepChange, it seems like I'm on the cusp of them suggesting a DMP vs. suggesting an IVA. However, I often have the…
IVA completed! Getting back on track
Hi, My husband and I have recently completed our IVA after 6.5 years (hurrah!). We would like to move house in 18 months, to a different area of the country. Does anyone have any advice on the following please? 1. How do we ensure we are in the best position to be offered a decent mortgage? (My husband's IVA has dropped…
IVA failing
Hi, I stated an IVA in February this year with Payplan and I’ve always been a bit sceptical about it as I think I was panicking so much I just agreed to to do as they said. My debts amount to just less than £6k Anyway I’m on benefits and will possibly lose them soon, so my Iva will fail, what happens then? Do the creditors…
Iva windfall exceptions
Hi. I have had an IVA for a year. I have recently been awarded some money as part of an employment tribunal out of court settlement. The terms of the payment are for injury to feelings for disability discrimination (without them admitting liability). None of the award is for loss of earnings. As I understand it, there are…
Ccj help
Hi we moved house 18 months ago - picked up post today discovered a ccj in husbands name from a unpaid parking fine from feb thisyear- which we had no idea about .... apparently I was in a kitchen store for 156 minutes , the private car park has a maximum stay of 120minutes. the store said if they had our ticket within 28…
DRO ended???
Hi, I took my dro out on 18/10/2018. I’ve logged into the insolvency register and it says ‘Status: Currently Subject To Debt Relief Order : Moratorium Period ended on 19 October 2019 See FootNote Footnote says ‘Footnote The debtor’s Moratorium Period End Date is in accordance with Section 251H of The Insolvency Act 1986.…
Hi i need a bit of help with a dro
Hi there, basically I am in process of setting up a dro with stepchange they have worked out my budget etc. I have filled in the application forms and am going to send it all in today but I have been reading a few people saying different things go and jus need someone to clear things up for me. So I have cresit cards that…
Drop but received new credit card
Hi, my DRO ends on 1st Nov (year has sped by) and one of my debts was a Sainsburys credit card. Theyve continued to send me statements every month but with no additional interest or pursuit of payment, and every few months a letter saying that they're obliged to tell me that I'm debt to them. Fine. I have however this week…
End date for dro?
Hi all, My dro was approved on 14 sept 2018 and it is registered with that date on the insolvency register. I have read in the gov website that it will show an end date on there, but it doesn’t. How will I know the official end date, would I assume it is 14 sept 2019? Many thanks

★ ★ ★ Meet your Ambassadors

Confirm your email address to Create Threads and Reply

MSE News

Martin Lewis: Mobile and broadband mid-contract inflation hikes are BANNED – but there are winners and losers
Inflation-linked broadband, mobile and TV price hikes have been banned. It means some will see bills rise by a specified amount in pounds and pence going forward. However, MoneySavingExpert.com founder Martin Lewis has warned that many WILL still see above-inflation rises in future despite the new rules.
'Catastrophic' Council Tax debt collection practices to be investigated by Government – Martin Lewis says move is 'brilliant news'
"Catastrophic" Council Tax debt collection practices – that can see bailiffs at your door within six weeks demanding payment for the whole year despite missing just one month – are to be investigated by the Government. It's a win for MoneySavingExpert.com founder Martin Lewis and his charity the Money and Mental Health Policy Institute (MMHPI) who've campaigned against this rapid escalation.
MoneySaver's 'unbelievable' £675 refund from Complete Savings – how to check if you can claim too
MoneySaver Ray secured a £675 refund from Complete Savings after reading our warning about the 'cashback with a catch' site's misleading 'click to claim' ads. And Ray's not the only one, as we've been swamped with similar successes.
Origin broadband customer? You'll soon be moved to Utility Warehouse – here's what you need to know
If you're an Origin broadband and home phone customer, you'll soon be automatically transferred to Utility Warehouse – but your service will continue as before and you should keep paying your bills as normal.
Bank of England cuts base rate to 4.25% – here's what it means for your mortgage and savings
The base rate has been cut to 4.25% from 4.5% by the Bank of England. This rate is used by the central bank to charge other banks and lenders when they borrow money, so the move can impact mortgage and savings rates.
Is now a good time to fix your mortgage or should you wait? Brokers answer as rates continue to fall ahead of expected Base Rate cut
Interest rates on fixed mortgage deals have continued to be cut ahead of this week's decision by the Bank of England on whether to change the Base Rate. But will fixed rates move much further – and should you fix now or wait?
Fixed-rate mortgages continue to fall ahead of expected Base Rate cut – so do brokers think now is a good time to fix?
Interest rates on fixed mortgage deals have continued to be cut ahead of this week's decision by the Bank of England on whether to change the Base Rate. But will fixed rates move much further?
Martin Lewis: How to call your bank by dialling just three numbers
How to call your bank by dialling just three numbers… simply dial 1-5-9. Then you know it's legit. Watch MoneySavingExpert.com founder Martin Lewis' video below, which explains it. And please share – the more people know, the fewer will be scammed.
Martin Lewis: How to call your bank by dialling just three numbers – as 'anti-scam' phone number called over a million times
One million calls have been made to the '159' anti-scam phone number since its launch in 2021, new figures reveal today (Wednesday 30 April). MoneySavingExpert.com founder Martin Lewis – one of the well-known faces most used in scams – explains how to call your bank by dialling just these three numbers.

View All

IVA & DRO

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free

IVA & DRO

Discussion List

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free