Hi All
So after a weeks wait I heard back from the creditors and they are still insisting on the £100 increase a month, the main reason being living at home they do not see why I should be paying £300 a month. Don't understand the argument as if i was living on my own it would be a lot more a month.
Anyway I have been thinking about this for the past week, re looked at the figures and as the main voter would not budge on the increase, rather than the whole process failing I have agreed the IVA at £450 a month which is a return of 55p in the £. It will be tough but manageable.
The way I look at it is I am better off now than I was 2 months ago when I was looking to pay £800 to £900 a month on debts.
Clear Start are also dropping fees to get it through.
The voting was as follows:
Egg, Capital One, Citi and Barclycard yes with the £100 modification (all voted for by the same company, so out of the ones that voted they had the deciding vote)
American Express vote yes with major mods which were rejected by Clear Start
First Direct - yes with mods which were again rejected (low amount owned the them)
Cahoot - No vote which is surprising as they are the main creditor (do feel like sticking two fingers up at them anyway as the bank charges from them caused me to get in such a bad place to start with[:D]), next contact with them is to reclaim charges!!
So how do I feel, not as happy as I thought I would be the more I think about the better I am feeling, I know I know longer have to worry about phone calls and letters and am 5 years away from being out of debt. If the IVA does not work for me at least I will know I have tired my very hardest to pay back what I owe!
Just will wait for the creditors report to come through now but as of today at 14:00 I am in the IVA and on the road to a better future.
In over my head looking for somewhere to turn
In and IVA and looking forward to the future
