I think resentment builds as you go through the IVA. As has been stated the relief dissipates and the frugal lifestyle kicks in and slowly drags you down. No money for treats, holidays, xmas would be a killer for a year or two but for 6 or 7, it can feel like a life sentence.
There is also the mental worry and strain. Pressure on relationships, family members and others who get indirectly affected by the IVA. What happens if interest rates rise, the boiler breaks, the car fails the MOT. Even times when you are just about coping, the worry of something going wrong is always there.
Annual reviews don't help either, they are always a yearly trauma in my mind (although, they always seem to go ok). Guess I am just one of life's worriers.
However, for me the real resentment is that it is preventing me getting on with my life. As a poster stated above, I want to start to build a stable financial platform for my family and this is in the way.
I did the crime and I will do the time and I am really grateful the IVA has given me a second chance. At the end I will be euphoric but that doesn't stop me resenting it now.
Forum essential for me to vent, understand others feel the same as me and provide inspiration from those how have come out the other side.
Hmmm .. an interesting take on things -- yes, I guess we all resent that which hinders us at times. But I don't resent my IVA -- I resent my stupidity in flying so close to the sun in the first place so as to get my wings burnt. I resent George Osborne depriving me, practically on the eve of its due date, of a £7k pay rise I had been promised for 6 years.
I cannot resent the IVA for saving me from certain financial melt down, or the break down of my marriage.
Can't say I will be euphoric at the end either
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Pros of an IVA = Debt Freedom after 5 years when complete and some written off.
Cons = 1.Could Cause Strained Relationships or Divorce
2.Jealousy of other People and Friends whose lives are moving forward and you are stuck in an IVA Rut.
3.Frustration
4.Moodiness
5.Despair and Depression
6.Desperation
7.Worry (especially at Annual Review time)
Just another take on how i perceive an IVA and for those that are going through one or have completed must surely have gone through some of these symptoms.
My house if failing to pieces. Every room need decorating and new carpets. New bed needed. Fascias on exterior of house are completely rotted. Exterior needs painting. Settee is threadbare. Boiler just about holding out. TV picture has a pink tinge. Extractor Fan on cooker stopped working. Any useful and working stuff already sold on ebay.
However Andrew, we are nearly there and thankful for the second chance the IVA has given us.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by andrewgoodman121
Pros of an IVA = Debt Freedom after 5 years when complete and some written off.
Cons = 1.Could Cause Strained Relationships or Divorce
2.Jealousy of other People and Friends whose lives are moving forward and you are stuck in an IVA Rut.
3.Frustration
4.Moodiness
5.Despair and Depression
6.Desperation
7.Worry (especially at Annual Review time)
Just another take on how i perceive an IVA and for those that are going through one or have completed must surely have gone through some of these symptoms.
Pros compared to what, Andrew ? BR ? Life in debt misery ? Never ending DMP ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I know what you mean Foggy and you are 100% right but even though it is a Godsend it is still really Tough to go through and I would be very surprised if anyone who has been in an IVA or is in the middle of one now has not experienced any of those feelings above.
Debt Advisors always talk about the repayment side of an IVA and the cons being freezing of interest and avoiding Bankruptcy etc which we all know about but always seem to not know the mental impact those 5 years can have on your Life.
I agree, Andrew. Especially with the likes of GT who feel it's OK to keep you hanging at the end for a further 2 years with no explanation ( or good reason, to be honest).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I know what you mean Foggy and you are 100% right but even though it is a Godsend it is still really Tough to go through and I would be very surprised if anyone who has been in an IVA or is in the middle of one now has not experienced any of those feelings above.
Debt Advisors always talk about the repayment side of an IVA and the cons being freezing of interest and avoiding Bankruptcy etc which we all know about but always seem to not know the mental impact those 5 years can have on your Life.
I do agree Andrew that there were times when we were really low, indeed I ended up on anti depressants but that was work and family trauma as well as debt. But now we have finished paying I do feel good about what we achieved. Granted the house looks extremely shabby and most of our white goods are on their last legs in fact the washing machine hiccoughed its contents on the kitchen floor and died last Saturday! But at least I know that on next payday I can go and buy another one and gradually we will be able to put the house to rights. And we are definitely going on holiday this summer which is wonderful as it will be the last one as a family for along time because eldest son is joining the navy. Hang on in there Andrew you are so close.
Annual reviews should not be a misery or hold any suprises - after all you are merely reporting true facts about your own current situation. Not sure why anyone ought to be worried about a review at all, if they have played by the rules throughout the previous year.
I'm sure you're right Mel, but my experience was that the payment always went up irrespective of the cost of living etc. (except when I was off sick for 10 months)
I was always nervous around review time especially if everything was running smoothly. I always had the irrational fear of something cropping up that I wasn't expecting to put a spanner in the works. Until I received notification all was ok I did worry.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I agree usually Annual Reviews can be smooth and be nothing to worry about but the way that it is presented always with the letters and IE forms and everything is needed now approach gives you a horrible gut feeling and plays on your mind and to most IVAers can cause a little distress and anxiety.
My first annual review is due in May and I feel sick in my stomach at the thought of trawling all through it again like last year, my income has gone down and my E has gone up and life is a real struggle so a review is just what I need but even still it gives me a knot in my stomach when I think about it!!!
