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Vodafone & DRO
Hello, Im in the final steps of sorting my DRO application with a financial advisor. I have 2 device plans and an airtime plan with Vodafone that I am unable to pay and was told these can be included in my DRO. I have since got a sim only contract through another provider. The financial advisor has asked me to contact…
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DRO - What to expect from a Intermediary call?
Hi, I am due to have a call from a DRO intermediary next week through Money Wellness. Getting to this stage has already been challenging as they disputed the value of my car (they were valuing it higher than £4000) I have submitted 2 written valuations from independent dealers that put my car under this price and they seem…
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Income Vs Expenses
Hi All I'm in the final stages of applying for a debt relief order, my SFS shows Income £1669 Outgoings £1841 Total -£145 The income was an average and it's been a lot lower lately, around £1540. I'm going to ask at my next call but I hope to get my income up to the £1841 mark so that I can meet my monthly outgoings…
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Adjusting DMP Payments
Hi, Currently on a DMP which i find is good. Most creditors have defaulted. Just Sainsburys Credit card not playing ball. but they have froze interest. Now Currently i pay 160 per month, But a few cost have increased. I may have to amend budget to pay 100 or so a month. Now i have no issues doing this. But i am wary, what…
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Pay rise and IVA
Hi all, I am in an IVA for around £8,000 of debt - I do believe I was pressured somewhat into it by one of the debt advisors I spoke to and I should've taken more time to consider my options, but ultimately the decision was mine. At the time I was on around 25k and was spending most of my money after bills on my debt…
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How to rent WITH an IVA
I need to move home ASAP. I am currently unemployed with 2 children and I have an IVA (I will be returning to work in January when my youngest statts nursery) I do however have a guarantor secured, a positive reference from my current landlord and a holding fee and deposit money readily avaliable. I have been turned down…
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IVA Tax Request
I’ve made my IVA payment (it is a lump-sum IVA) & awaiting my completion certificate. (Payplan). However, I have had an email from an outside company, notifying me I need to complete forms to ensure my tax code is correct as any overpayment from the past few years should go to my creditors. Payplan have assured me it is…
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Can I go from Breathing Space to a DRO?
Long story short I've been burying my head in the sand and have been struggling to keep up with monthly payments. I get paid £2000 a month and most of it was used for paying back credit. After about a week I had no money left for anything else. I worked it all out and I am in around £28,000 debt. So thank God (and Martin…
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Contract + Overtime
Hi All, I'll qualify on paper for a DRO at the end of the month - £35k unsecured debt, no assets (no car, I use my parent's) Looking at my income last month, £1057 was from my base contracted hours, £1244 was from overtime. My net was therefore £1872 This month, I've barely got any overtime at all, but I am guaranteed my…
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Is an IVA right? £28k debt, self employed and PAYE income
Hi all, gutted to be having to ask but need a way out of the worry! Here's the important points: Looking to possibly do an IVA in my name only - debts are all mine. Assets Owned home, mortgage in wife's name but clear beneficial interest. Approx £50k equity each. No other significant assets. Income Wife - PT employed and…
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Extra money when in an IVA
Hi there, I have received £300 extra money from selling some random shares I received. I have tried tirelessly with my Iva provider to see if any needs to be paid into my Iva and I keep getting different answers after waiting days for emails back. Has anyone else had extra money and declared it when it’s around that…
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IVA + inheritance
Hello, I am 1 year into an IVA and have been left a 7 figure sum by a relative. My question is, do I have to pay back the full amount I owe on the IVA in full or is there some way to get around this? If I pay back the creditors will my credit be repaired? I likely won't need credit for anything that I can think of in…
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income and cash IVA
Hi so i'm confused I have a friend that is in a IVA too. two years in. I'm almost 3 years in. I have a annual review in December I think. but anyways , my friend has started to withdraw her monthly salary and budgeting from a jar. but wouldnt this raise questions? i mean she leaves enough for her subscriptions and her IVA…
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Advice about end of DRO
Hi, so in 3 days my debt relief order will end - I understand this stays on my credit file for 6 years which is fine, I had an extremely bad time with my mental health over the last 2 years and didn’t see anywhere out. I use clear score to look at my credit file and all my accounts from creditors are in default, yet I have…
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IVA: Useless Administration of IVA
Hi all, Long post ahead! Read some really valid and valuable posts on here over the last several years and was hoping just for a bit of information/guidance with my ongoing IVA. I took the IVA out in 2019 as I had loans/credit-cards totalling £40k. I don’t own my home and privately rent and went through the motions of…
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My car is dying and I have an IVA! Help!
I'm in an Iva. I'm Single mum to two children, I work part time and claim UC top up. I live by myself (with my children). I rent via the council and I own my car outright. Just covering the basics incase they’re relevant! I have a car. She's an older car but I've had her a long time so I know where I stand with her. A few…
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Is a Budgeting loan a qualifying debt for a DRO?
Hi I have some confusion, I’m currently receiving ESA and have applied for a Budgeting Loan but I’m confused if it comes under a qualifying debt in a DRO? The Gov Website shows some contradictory information. Can someone kindly please help me, thank you
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DMP entered but feel was wrong decission
I was £3580 in debt £1200 with Currys,rest with Klarna.in a moment of panic I spoke to a company who said we can help by putting on DMP and spread costs etc.ithought yes that would be great.so entered into it. But now in reality I have realised for 3 months I could have aid the klarna off...and be left with just…
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Paid IVA off early
Hi I paid my IVA off early using my tax free amount of my pension fund but have now been told it takes 6 months to get my completion certificate. i need to redecorate my house as it is in poor state of affairs am I able to take more money from my draw down pension or can creditors still take it even though my IVA is now…
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Help needed Gaurantor loan & DRO
Hi All, I am looking at applying for a DRO and my partner is also. The question I have is. I have 2 guarantor loans which were taken out with Future Finance Ltd when I was in Uni. They have since gone into voluntary insolvency. The guarantors are my partner and my landlord. Due to health reasons and my partner having to be…
