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IVA & DRO

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

IVA Marker- but I cancelled it before it went live...
I applied for an IVA as I was struggling to find a debt consolidation loan. There is an IVA meeting due to take place, however, I have cancelled it. As I managed to find a lender that would allow me to consolidate my debt and make it more affordable for me via a loan. Whilst the iVA would it restrictions on my promotion…
Dro and DFS etc
Hi, I'm currently in a DRO myself but mine was fairly straightforward, and I have a friend considering a similar thing. She is now in disability benefits and satisfies the £50 rule. She has £13k on a credit card, 1.5 grand outstanding on a finance plan via DFS and another 800 on Yourplan which I think is Curry's. Can she…
I have an IVA, my wife does not, can we rent
I have an IVA, but my wife doesn’t and her credit is good. We’ve lived in our rented property for 8 years, never a late rental payment. IVA is a year in and up to date. As our two daughters get bigger, a move would be good, but is this an idea worth thinking about, or will my iva stop us being able to rent? I make £35k a…
DRO and Rental Agreements
Hi Everyone, I'm looking for a bit of advice. Im currently working with Step Change to apply for a Debt Relief Order. When I initially spoke to them, I asked if my house was safe. Both me and my partner are on the rental agreement but the payments go out of my husbands account and he covers 100% of this bill. I was told…
IVA & Student Loans
Hi all. I've applied to Open University a few months ago and am due to start my course in October. I applied for student finance and grants and all that. I applied for maintenance loan as well and in October when my course starts, around £1200 will be paid directly into my bank account to spend on what ever I like. The…
it is easy to cancel DRO
I am probably very lucky, because yesterday I won £10k but I am on DRO 3 months already. Did not get money yet, seems have to wait until Monday. What I have to do? Just call and tell I need to cancel DRO? It will be easy? And probably is better to contact them when I have money in my bank acc? I am so happy now but have…
IVA transferred to sister company?
I've posted quite alot to do with my IVA that I've only just started 3 months or so ago. I do try to look on the forums for info before creating a post. My IVA 'case' has been transfered from Swift Insolvency Solutions to it's apparent sister company Aperture. I called Swift and they did confirm this. I've also had an…
IVA issues
Hello everyone, I’ve just joined the forum and hoping some of you can help me with some issues I’m having with my IVA provider. Ok, so in March 2018 I entered into an IVA to settle 48k of debts. I’ve been paying £300 monthly which over the five years would of meant a repayment of 18k. A clause was set within the agreement…
Iva i&e + pip
Hi, I have had an IVA in place for a year and have just received a letter asking me to supply a new income and expenditure sheet. When I first applied for the IVA last year, I told them I was in the support group for ESA and also got low rate DLA. I had always been told that DLA is never counted as income but the company…
Should I get an IVA at 22?
Hi all, this is my first time posting so bare with me. I’ve accumulated just under £8000 in personal debt in the last four years. I’m starting to feel overwhelmed by the several different payments every month, and rising interest costs. At the moment my total monthly repayments are just over £300. I have spoken to some…
Bankruptcy / IVA, unsure which way to go.
I've spent the last 10-15 years struggling with credit card debt, and have finally decided that enough is enough. I've got about £33k on credit cards, and £9.5k on a personal loan, all of which are in my name. Our house is mortgaged in both mine and my wife's name, value approx £185-190, mortgage is about £135k. Our…
Getting a mortgage after an IVA
Afternoon, please could some one advise me on where i could get a mortgage from. I am now out of the IVA which ended on the 5th February last year and i am sturugling to get a mortgage to be able to move house. Some advise and companies that will not rip me off would be greatly appreciated. thanks
Dro 8 months in
Hi, I'm 8 months into a Dro, I've checked to credit reference apps and both show different results. One shows most creditors with a zero balance and a few with a balance still, the other shows them all with a balance At this stage of a dro what should my crrdit history show on such things Thanks
Mortage in an IVA
Advice please Currently in an IVA, i have the possibility to purchase my parents house which has equity release on it for about £40k leaving about £160k equity so would need to mortgage it to pay off the £40k i,m thinking i would be able to raise the extra to pay off my IVA would i be able to obtain mortgage does anyone…
Do creditors have to default debts
Most of my IVA stuff has now dropped if my credit file, just 2 items to go. One of them is a debt which was included in IVA at all stages but was never marked as defaulted, just as late until IVA completed Do creditors have to mark debts as defaulted ? (It would seem unfair not to, for me it will drop off next year, but…
iVA from abroad
Hi I currently have 49k debt from my time living in the UK (monthly payments around 2100/month). I left UK 15 months ago (outside the EU) and have continued to pay the monthly repayments/min pay fee. However, my situation has changed dramatically these few months (getting a divorce) and this has made the payments…
My DRO journey
I've decided I want to keep a record of my DRO journey. I think it will help me to clarify my thoughts and reduce the stress of the process since I don't really have anyone to talk to about it. I'm a carer for my grandparents and registered as self employed so i can earn some extra money online. I don't earn very much and…
Car on finance IVA entered
Hi I have just had my IVA accepted which I am so please about. I have a car on a lease agreement and was told this would remain the same and that I would be able to keep my car as long as the payments remained paid in time etc. I was browsing around for something completely irrelevant and got a big shock that said the HP…
Lump sum IVA?
Hi, I’m currently debating debt solutions for £32k of unsecured debt. My partner can give me £10k, but would that be enough to offer as a lump sum IVA or would we need to raise more? Haven’t asked any firms, wondering if any lovely people on this thread have any experience or knowledge of this. Thanks
DRO pending and telling council
Hi, Newbie here! Looking for much needed advise. Long story short i owe the council £972 for unpaid council tax from last yr. I was happily paying them £75pcm after it was sent to court, unfortunately i managed to miss a payment, so off it went to ‘CollectServices’ and they have been knocking and now the debt is £1252!!…

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IVA & DRO

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