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IVA - effect on wife's credit status
I probably already know what you are going to tell me but... I am almost certainly going to have to start an IVA because of £30K+ worth of personal debts that have gotten completely out of hand. All of the debt (and overdraft) are in my name only. My wife has her own bank account and aside from the mortgage on our house we…
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IVA First yr check coming up, advise needed.
Hi there people I'm after some advise if at all possible. My yearly meeting is about to come up for the first time and I have a few questions regarding it. My situation had changed, when I first went into my IVA I was sharing with freind and as such my rent was only at £320 per mnth. However he has now moved out and hasn't…
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preferential payment on the DRO
Okay, I've decided to go ahead with the DRO, and I'm currently in the process of selling my car to replace it with a cheap motorbike worth under £1000. That part I'm sorting out.. At first I thought I owe'd just 7000 to companys, but my mother quickly reminded me that I owe her about 5000 as she's been paying my bills for…
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Big Thank Yous
:AHuge big thanks to everyone on this board who got us over our LBM and phone terror, finding out iva wasn't going to work for us at the moment...we are going with the dmp, its a low start one so worried how it'll be accepted but its all we can do. Feel so much better from just facing it properly! :TThank you:T and hope…
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IVA Help!!
My husband's setting up a business as a self employed sole trader installing lockers. His friend will also be working with him, I wondered if he could set up as self employed as he has an IVA that is why we are not opting to set up as a company partnership. Can he set up as self employed on the basis that he will do work…
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IVA Failure
Hey Everyone Well got my certificate of failure today - seems I have paid £11,860.57 and Payplan have kept half of it and are saying that there is insufficient funds available following the part payment of the Nominees fees and the supervisors disbursements with which to present a petition for bankruptcy. Payplan have also…
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thinking of a IVA, first time poster...help!
hi, im thinking about getting a IVA, im really struggling with money and i feel a IVA is the only option i want to take (in oppose to BR) Ive managed to get myself into a pickle with money through years of being stupid with my money and racking up a lot of debt. Now im currently owing about 40k, this is to a credit card…
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IVA near completion...mortgage required for first time buyers
Hi all, I would be grateful if anyone can help or assist, im due to complete my IVA in May of this yea (yes!!) and would love to buy a house with my boyfriend. He knows all about my IVA. The thing is though Ive spoken to a couple of mortgage brokers recently to see what sort of a deposit I would need so we can have an…
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Advice Needed Please
I did out this on the BR board but no one replied. I have been in an IVA with Payplan since 2006 and pay £210 a month for a debt of £33,000. Anyway I was in a good job which I lost and now I am in a much lower paid job. I am finding it hard to live and I have been diagnosed as bipolar. Heres where I am a ***k as I did not…
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Letter to creditors
Hi, sorry I have another question. I have an appointment with CCCSVA next thursday but in the meantime I was going to send a letter to all of our creditors explaining that we are in financial difficulty etc and send another token payment by internet banking. However, after staring at the screen for an hour I can't work out…
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Failed IVA advice needed!!
our iva failed earlier last year and only today recieved a letter stating a list of dividends for creditors. my questions are 1 does the creditors automatically get allocated this money from the iva company or do they have to apply for it, the reason i ask is that we have only been contacted by 1 creditor since it failed,…
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IVA or DMP
I have read the great advice coming from others for similar things on here. I have been in touch with Payplan to discuss the options and they have suggested I take a DMP at 405pm to pay toward my outstanding debt of 75k for 19 years. They have also offered the option of IVA but have suggested my circumstances would make it…
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Angry IP!
Hello and good afternoon, I am in the 5th year of my IVA which has been extended by another year after a variation meeting last year! I was paying £814 a month..........to cut a long story short, my marriage broke down leaving me with no place to live and no assests. After being in debt for most of my working life I had…
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IVA complete today!
Hi all, Need a bit of advice. I have had my completion certificate for my IVA today:T after settling this 2 months early out of my redundancy payment (my IP contacted my main creditor who were happy for me to keep the remainder to live on as I don't have a job:(). Anyhow to the point... The letter from my IP advises me to…
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Any help or advice would be appreciated
Hi All, I owe approximately 35k on cards, to date the payments are up to date but I am unable to continue to service them, I have struggled to do so for the past few years but it is now coming to a head. I am a sole trader but have just registered as a limited company, as I need to separate my personal mess from my…
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IVA or DMP?
Hi everyone, new MSE forum user here so apologies if i'm posting in the wrong place! I wondered if you might be able to help me with some advice in choosing between an IVA and DMP? I've spent many hours and days reading through the various pro's and con's of each approach and to be honest, i'm still having a hard time…
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Why won't they let me pay full balance?
I have had an IVA for a while now but I am in position now to pay off my creditors thanks to family member. The amount owed to IVA is £1500 more than total from all creditors and some will lower it even more for early settlement. Can I cancel IVA and deal with creditors on their own? This was supposed to help me not hinder…
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I really need more Advice iva or bankrupsy???????
Hello, I previously asked about iva on here, I am now unsure if it would make more sence to go bankrupt???????? Can anyone advise me on the benefits for both and who thinks what one is best, our debt is approx £50k i am at my witsend I have not slept for weeks properly I just want this sorted out. Please help????? Many…
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Bankruptcy/IVA questions
Hi, i wondered if anyone would be kind enough to help me?. I was pretty sure about going down the IVA route for debts of nearly 100K but someone i have spoken to has put doubts in my mind and wanted clarification on a couple of things. I had been told by cccsva that the IVA would last 5 years and that it would stay on my…
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Iva, dmp or bankruptcy
Hi I have some really useful advice from the people on the forums but am afraid to be asking for more. I have been in a DMP with CCCS since Sept 2009, I have just had a review and have been advised that it will take at least 19 years to pay off my debts- approx £45k at £195 per month. I have been advised that an IVA or…