Good morning,
After 5 (seemingly long) years my husband and I made our final IVA payment at the beginning of October, and although we're not officially out of the arrangement until we receive our certificate of completion, we are now debt free - hurrah!
I just wanted to offer advice to those that have just started down the IVA route or are a few years in. It may seem hard now, and a long way off to the final payment - the biggest struggle for us was in about year 2 when the initial payments had been done and 2011 was a long way a way! But stick with it as the feeling when on completion is well worth it.
I have always budgeted for every single thing I have paid on spreadsheets to ensure we know how much we have for the month. Also, if on any month you feel that you are struggling, contact your IP who should be understanding, and are there to help you get through the arrangement. For example, earlier this year when receiving maternity pay, I was able to drop my payments by £50 a month for 3 months and upped my payments by the same amount for the subsequent 3 months so I could complete successfully.
I don't regret taking the IVA out - it was a tough decision and shouldn't be entered into lightly - but I have learned some valuable lessons, and value money a whole lot more than I once should have done. It was the right road for us to go down.
Finally I would like to say thank you to those who run this forum. Although I haven't posted lots, I have dipped in and out when I've been looking for advice on certain issues of my IVA, and the information has been invaluable. It is a very useful tool!
Debs x
Final IVA payment made - 1st October 2011
Finished at last!
