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IVA & DRO

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

Does IVA ever end?☹
You take out the IVA and follow the process thinking that at the end you have a fresh start. Basically that's how you get through the years. Then you complete.....wait for the certificate and it's done Or is it? I feel like you can never move forward. Off the register and defaults clear but now being advised that records…
IVA completed early. What now?
Hi there. We have just completed our IVA 1 year early. Thec5 years were not up until August 2018. We have received our certificate of completion. So what now? We want to save for a mortgage and deposit. Our IVA company haven't told us or advised us on anything to move forwards with our credit file and history. Natalie
Basic bank account recommendations?
Hi, does anyone know if HSBC accept people embarking on IVAs? Currently with Barclays so need to find someone to move to. Thank you
help and info please
My late father who passed away march this year had an IVA which he completed in dec 2016. My mother and father had a joint mortgage and my dads life insurance paid off the mortgage . while sorting threw stuff we found out ppi was missold on the mortgage so my mom made a claim . the claim was successful and she received a…
Iva company gone into administration and won't complete my iva 10 years later!
I took out an iva with my ex partner 10 years ago. His debt was much more than mine and when we split 6 years ago I phoned them to have mine separate and I was told that mine could be completed because my debt was very small and we had made enough payments to cover it. Roll on 6 years and many phone calls as to why I…
DRO info
Hi just wondering if someone has any advice, I am currently waiting for my DRO application pack and was just wondering if you know what info I need to get sorted to send with it? Do I need to request an Experian credit report and print bank statements, pay slips etc off? I've just seen on stepchanges website that I would…
DRO and self employment
Hi all, Hoping you can help! Spoke to CAB but no one seems to know the answer. I'm self employed as well and employed. My question is, how will a DRO affect my self employment? It is not a LTD company, and I am in partnership. Can I still run my business as usual? The debt I have is personal btw, nothing to do with the…
PPI claim now I have my IVA Certificate of Completion
Hi guys After slogging away for seven years, I finally received my certificate of completion for my IVA this week ... I'm beyond thrilled for it finally to be finished. Putting aside the ethical quandary, can anyone explain (in laymans terms!) what the legal standpoint is on making an IVA claim? There is a lot of legal…
IVA f&f offer
Hi, I wonder if you could advise me. I've just paid my 46th payment. I'm aware I have a 12 month extension due to higher earnings so there are 26 payments of £100 left. I shall be starting a degree in September and as it's nursing so won't be working from 6 weeks time. I've spoken to my parents who are willing to offer…
Is proof needed of budget? DRO
Hi I'm not sure if this has been asked before but when applying for a DRO do they ask to send proof of your costs, i.e gas/electric bills, mot receipt, cigarette receipts etc or do they take it on face value if it's within their 'limits'. Just concerned I don't have 'proof' of certain expenses-like I never get a receipt…
When did my iva finish
Hello My full and final settlement was agreed in March 17 with my creditors Is this when my iva should be completed I received my completion certificate today and it says July as the date it was completed I I only got this as up chased them, but in my head I finished in March . My iva company have constantly done things…
Credit file
hi Just checked my file and one of my debts MBNA is showing as defaulted and this was later sold on to arrow. so they both appear as default. My IVA has now completed so I checked with MBNA if they would update my credit file, they said I had to wait until 6 years passed as they had sold the debt. the Default is 3 years…
What to do? DRO or IVA
Hi Everyone I am due to speak to Step Change having completed an online assessment. I currently qualify for a DRO, having only £24 left after basic essentials. I am only temping at the moment however I am looking for permanent work on a salary that will hopefully increase my income to £200 more a month. Although my…
Anyone obtained a mortgage after a DRO?
HI Has anyone had a mortgage after a DRO has just finished? I know it's still 5 years on your file but is it possible for this to happen sooner? If so, what deposit was required? Thank you
Failed IVA and next steps
Hi, I entered into an IVA which started in May 2011. Unfortunately towards the end of the IVA my supervisor advised that my payments towards the IVA were not enough and I would need to make up the shortfall so that the IVA could be closed. I tried my best to find the money owed to meet the demand but missed the deadline…
beneficiary interest and DRO
Morning All Any help welcome. I have just come of the phone to stepchange who are sending the paperwork for a debt relief order. I was originally going with NDL But there waitong time is 9 weeks. Anyway stepchange advisor said after my budget im left with less tbat 50 a month surplus, dont own a car or house, but she wasnt…
Worried IVA ending up paying for 7yrs
I'm in the 5th yr of my IVA and as far as I can remember, based on a phonecall right at the start of my IVA, I was told it would need to be extended to an extra yr. I have so far paid £8,900 into the IVA. Now I am in my 5th year with an original debt of £22k and I am unable to remortgage my house due to my lender Northern…
Dmp and privately renting
Hi, I'm after some advice please. We have thousands of pounds worth of debt and rent privately. I've been always against an IVA or DMP as I worry it will come up on our credit file when we look at other rented properties as I know from the house we are currently in there was a question if we have ever had an Iva or dmp and…
pre DRO and credit file
Hi everyone I have two copies of my credit report experian and noddle for my dro. Is there any specific piece they need??? mines 24 pages and i still cant see total debt etc?? on my mobile app its much clearer shows what i owe and my creditors, on paper looks a mess. There different too experian shows a HP agreement…
Couple dro £40K?
Can a couple a husband and wife both do a dro each together at the same time, so £20k each, but individually

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IVA & DRO

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