由 adishheart 於 2024-06-26 20:45:46 發表 | 累積瀏覽 82
During the DRO period you stop making payments towards the debts and interest listed in the DRO. After the 12 months, you will then not have to pay these debts anymore. After getting your DRO approval, you will not receive any further communication from the Insolvency Service.
You can't get a DRO removed from your report. However, you can check your report to make sure your DRO has been updated as 'discharged' after the DRO period (usually 12 months) is up.
Once your IVA is approved, you can manage your agreed budget however you see fit. As long as you cover your IVA payments and essential bills, how you spend any money left over is up to you. You may also be able to increase the amount of money at your disposal by using the additional income threshold to your advantage.
An IVA is a voluntary arrangement. As a result, and before an IVA can begin, your creditors must be given an opportunity to vote as to whether they agree to the proposed IVA or not.
As you're expected to pay off the money as quickly as you can, your savings will automatically go towards the IVA, which will essentially reduce your monthly repayments. While most savings are included, special rules surround your pension, so you don't need to worry about losing that.
An Individual Voluntary Arrangement (IVA) freezes your debts and allows you to pay them back over a set period. Any money you still owe after this period is then written off. You can apply for an IVA if you can afford to pay something towards your debts but not necessarily the full amount your creditors want.
A DRO does not require court approval to go ahead. One advantage of a DRO, when compared with an IVA, is that it only lasts a year – however, bear in mind that it will still be flagged on your credit file for six years, so it will continue to impact your ability to take on credit.
These fees are charged for the ongoing administration of the IVA which includes collecting and distributing your monthly repayments, helping and supporting you during your IVA, dealing with any queries raised by your creditors, completing an annual review of your financial circumstances, reporting annually to you and ...iva drp分別
VAT arrears
All VAT liabilities will be added to the IVA creditors list, and you will be issued with a new VAT number by HMRC. However, unlike personal tax liabilities, any ongoing VAT liabilities will remain your responsibility and must be paid on time at the end of the relevant VAT quarter.身分證借錢
An IVA typically lasts for five years, but sometimes this can be extended if payments are missed, or you are unable to release equity from your property in the final year. Like bankruptcy, a DRO lasts for a year and wipes off all debts in this time. IVA fees vary for each debt management service.
