If you have been insolvent - bankrupt, had an IVA or a Debt Relief Order (DRO) - then you need to know how this affects a claim for a refund for a financial product. You can't make a new claim for a PPI refund - the deadline for this passed at the end of August 2019. There are a lot of claims in progress - and you can still make affordability complaints such as those about payday loans and … [Read more...]
Articles about what happens in an IVA
This page, and the following ones, list all Debt Camel articles about the practical aspects of IVA - from what happens at your first annual review to what you can expect after you make your last payment.
Also read Debt Camel's Guide to IVAs which gives an overview for anyone thinking of starting an IVA. IVAs are great options for some people, but they are too often "sold" as an easy, affordable option to people who have better alternatives for sorting out their debts. Do your research!
If you are interested in debt policy and news, look at the IVA News Archive.
IVA completion certificate delays are too long
In 2018, delays on completing IVAs aren't as bad as they were a few years ago. but some still take over 6 months to finish, often with no good reason. This article looks at why these delays matter and what you can do if you are waiting for your IVA completion certificate after 6 months. How bad have delays been? In 2014 an Insolvency Service report said: "a high proportion of complaints are … [Read more...]
The secured loan clause in IVAs – a potential timebomb?
Background - secured loans and IVAs The following is a brief summary. Before 2014, most IVAs had terms which say a debtor with equity in their house must try to release some of it in the fifth year of the IVA through a remortgage; and that if this isn't possible a sixth year of IVA payments will be required. At the start of this year the IVA Standard Protocol was updated to include an … [Read more...]
IVAs and secured loans – how to complain
In 2014 I wrote an article about IVA complaints, looking at when it is worthwhile complaining and how to go about it. This is a follow-up: what to do if your Insolvency Practitioner (IP) says you have to take out a secured loan. This is a key issue at present as some firms have been asking clients with existing IVAs to include a secured loan clause as part of a larger variation agreement. Other … [Read more...]
Should I use DLA / PIP money to pay debts?
Disability benefits such as Disability Living Allowance (DLA), Personal Independence payment (PIP) and Attendance Allowance (AA) are meant to cover the extra costs you get because of the disability. So is it right to use this extra money to pay off debts? Can your creditors make you do this? That may sound a bit abstract, but it leads to a very practical question - if you need a Debt Management … [Read more...]
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