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IVA & DRO

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

DRo submitted to insolvency today but I have a big concern!!
Hi all, I’m feeling very worried tonight. I have been doing my DRO through atepchange and today they submitted my application to the insolvency agency. My concern is over my credit report. I have a debt showing on there that I paid off over three years ago. I advised sc about this and they removed it from my list of…
IVA and options
Good Afternoon i am spinning. i got divorced 4 years ago - terrible deal but i get to see my children three time a week which was to be fair, all i ever wanted. I took the settlement i got which was 15K and used it as a deposit for my little house. Over the course of the last 4 years i have had to buy pretty much…
IVA Best choice?
Hi, I am feeling a distinct sinking feeling and need to act fast. I have £47K in creditcard debts and £10K bank loan, and £3K in overdrafts, so £60K in total. I have a good job but I'm only just servicing the minimum payments and its getting worse and I am not sleeping well. What makes it worse is for the first time my…
Banking with IVA
I'm concidering an IVA. I have an overdraft of 1500 and a credit card of 2500 with Halifax. I also have a new account and savings account with llyods. When you spend 3.50 on your card llyods round up the amount to 4 and put the 50p into your savings. Few questions.... Halifax and llyods are the same banking group. Does…
IVA, Creditors amount stays the same
Hey all So live the title says, I have an IVA. But each month I check my credit report which is getting better but when I check the amount owed either on the credit site or on the creditors site its self its still saying the owed amount is the same. Is this because something dodgy is going on or does it only change once…
Paying back twice the original IVA
I’m confused by my Iva. Was supposed to end April after five years and I was waiting for creditor meeting when I got my divorce settlement in June I let them know I now had money to complete The total debt at start of IVA was around £20k and so far I’d paid off £13k. The final figure I’ve been given is £17k which means the…
DRO help
Hello, I'm in a bit of a bind and need some help. I'm a stay at home mum with debts of about £14k spread over three credit cards and an overdraft. Most of the debt was acquired when I was still working. My son is 17 months old and I'm at home with him due to high childcare costs. My partner of 11 years agreed to carry on…
Potentially applying for a DRO and looking for advice on a few things
Hi guys... I'm severly struggling financially and am contemplating a debt relief order. I struggle with depression and in the past I've used the spending as a means for cheering myself up and needless to say I'm in a bit of a mess. In total I have approx £19k in debt and technically am at -£2 after paying all my bills... I…
Ppi /iva
Hi I’m new on here and wondering if anyone can offer me any help. I had an IVA with DFD 14 yrs ago I paid into the IVA for about 18 mnth then it failed due to my circumstances at the time, since it failed I joined Experian and found a ccj also a third party contacted me which I cleared and in the yrs between I’ve worked…
DRO what expenses count ?
Hi. I am new and dunno how exactly put a new topic/question. I have a problem. My partner is in debt. If he wants to get a DRO what expenses counts( I know about rent, electricity etc) I am pregnant and get £145 a week maternity....does it counts as well as an income because we live together? How much expenses we can write…
DRO what expenses count ?
DRO Due to come off
Hi I have a debt relief order which finishes at the end if September. From what I understand it automatically comes off of the DRO register three months after the finish date. What I am wondering is, if I apply for PPI after the completion date is there a chance that the DRO can still be revoked or does it end on the date…
Credit after IVA settled
We hace recently had a full and final offer accepted to end our IVA after just under 5 years. I know that the IVA stays on our file until 6 years after starting but once we have the completion certificate, is there any way we can improve our credit score and/or get credit in that last year?
Third Party Payments
Hi, This may seem like a silly question but can anyone tell me the best way to make third party payments to my four credit cards. Parents have offered to do this to drop debt below £20k. Can they make online payments to my creditors or do they need to call them and do over the phone? Thank you
i wanna do it
Hi, I am on an IVA with debt around £13K. I might be in the position soon to pay off this debt and am wondering that if I do pay the debt off, will I remain on the so called black list and if so, how do I go about getting my name off of this list? Thanks
Gutted.
Hi everyone, I have an IVA in place, it ends 06/21. It was taken out when I first became a single mum (I have 4 children, 12, 11, 9, 7). My circumstances where pretty bad, the ex left me in a lot of debt in my name and the house had negative equity. This seemed the best way to sort it and up to now it has been a God send.…
Is my insolvency practitioner acting dodgy?
Hello all, Would appreciate some advice / feedback... Back in May I had to wind up my company asap when HMRC came knocking - various issues had caused problems and led to mounting debt (e.g. a former client running off with £14k that I never got back, chasing a massive payment from another for months...) Anyway, my…
Iva help please
Hi, I'm new here in just looking for some advice please. I have quite a lot of debt £26,000 ish including my car. I have plodded on for a long time, I split with my partner the beginning of the year and I am a single mum now to three children. It has got the point now where I am scraping by, I do manage to pay the minimum…
Caution when using Knightsbridge and Creditfix
Hi, Just wanted to give warning to anyone considering using either of these companies to arrange their IVA. I paid off my IVA early in early June 2017. I was aware of the 6 months waiting time to give the creditors chance to reply and make a claim for the offer. Literally the day before the 6 months was up, 5th of Dec last…
DRO & Damages
Hi I was looking on the DRO - Insolvency manual and was looking at whether it was possible to include damages (after having been sued) in a DRO The manual states "Any liability to pay damages for negligence, nuisance or breach of a statutory, contractual or other duty, or to pay damages under Part 1 of the Consumer…

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IVA & DRO

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