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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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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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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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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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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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Quick question about a dro
Hi so I have applied for a dro and have submitted all my evidence etc. I got a email from stepchange today saying they have received the paperwork and that they need a little more information It said to phone stepchange so basically I phoned them and they said they will have to do a call back this Monday I said ok I also…
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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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IVA or DMP
I've been speaking with StepChange and currently have around £23,500.00 of unsecured debt (some of this being interest on a loan).The monthly payments for their suggested solution of a DMP is around £355.00 and it would take 5 1/2 years to pay this debt off. That's without the guarantee that the creditors (HSBC/MBNA) will…
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Are debt managment plans a good idea?
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IVA or ending it all?
Seriously don't know what to do....... Been hiding debt for years from family and friends, I have a proposal for an IVA ready to be sent to creditors, but the thought of my name being on a register is making me feel like not even being here...:( I have a high profile job...and feel so ashamed....the thought of people…
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DRO question
I've started the process of a DRO a few weeks ago, all done over the phone with citizens advice, now they've told me we'll have another phone conversation in January then wait until April/May for my DRO. Is this the fastest a DRO gets processed? Are there any companies that do it quicker? Cheers for any help.
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DRO completed, HMRC still collecting from my benefits award.
I'm at my wit's end. I was granted a DRO in July 2018, incorporating a large tax credits overpayment from HMRC. In June, they confirmed the full amount outstanding to them and I didn’t hear a peep for 12 months. They’ve now started claiming £80pm from my benefits as a repayment. They have confirmed that this is from 2015,…
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Can CMC debt be added to an IVA?
Hi all I owe a sum to a claims management company from a ppi payout. Can I include this in an IVA as they are technically not a creditor? Thanks
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IVA done, additional payment required?!
Hi all, So I completed my IVA in May 2019 and did my final income and expenditure in January 2019. They accepted this as my final I&E in May and nothing more was needed. Fast forward to October 2019 and after hearing all but a system generated email and a recorded message from my IVA practitioner, I have just called them…
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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…
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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…
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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…
