an IVA is it a good thing?

[trooper]

I am in the early stages of possibly going down the route of an IVA, can anyone give any advice or suggestions - is it a good thing?

[Kazzy E]

Hi there Trooper, I have just commenced by IVA journey, I am no expert, but I will say that you will get any information you require from this forum to make your mind up. The professionals are here to help you and are brilliant. You can ask any question, however silly you may think it is, and someone will answer it for you. Good Luck, Kazzy

[Beans on Toast]

Hi trooper, welcome to the forum. Each individual case is different, you would need to give a little info about the amount of debt you are in so the experts can give you their best advice, don't be scared off by this, we have all been in your position, best of luck.

[thanna]

Hi Trooper,welcome to the forum.We;ve been in our iva for almost two years now and whilst at the start it was very stressful waiting to see if it got accepted i can honestly say its been a godsend to us i don;t know were we;d be now without it.[:D]

[thanna]

P.s goodluck keep posting we;ve all been there!!!

[MelanieGiles]

Hi trooper

An IVA is an excellent way of repaying debts that you cannot afford to service on an ongoing basis, but there has to be a real desire to do the best by your creditors and to work hard to do so over a five year period under a relatively strict budget. There are other options, so the best thing to do would be to consult an insolvency practitioner and explore these further.

[Martin2011]

I'd certainly agree IVA's are a good thing - we'd have sunk without the option and another week with the stress at that point would have been unbearable... Follow Melanie's advice, seek assessment with a good IP and you'll get advice as to whether it's the right route for you...

Best of luck...

Martin

[iva.com]

Hi Trooper - You can find reviews of loads of IP's on the the review boards (funnily enough) on our web site. Who was it that said 'the only darkness is ignorance'??? There must be some philosophers on here...

Anyway good luck to you.
Susan Macdonald

[aguise]

Hi trooper
An iva for us has been the best decision we ever made. Make sure you research it really well, choose a good company, make sure your I and e is enough for you to manage on for five years. Then it can be a great solution. Read some of the blogs and they give a good idea of life before and in an iva. I like to recommend Melanie and ian from this site as a good place to start when looking for an Ip. I see such good feedback from their clients.

All the best

Ang

[Julie]

Hi,

I agree with everyone, do loads of research ask and as many questions as you like. It is an individual choice and not always the right option for everyone. As all our circumstances are different so is the right choice to end the debt.

An IVA / BR is a not a wonder cure to your debt problems, its a way of facing and dealing with them. We're in 2nd year of IVA and it hasn't been without its stress - especially in the early stages, just wish I'd found this forum earlier!

Good luck, I'm sure you'll come to the best decision for you.

[trooper]

Hello all and many thanks for all your comments, suggestions and good wishes. Where to start - I can honestly say that this is probably the hardest thing we have ever had to do. Very mixed emotions, anger, shame, embarrassment, I could go on. Anyway, as for our situation, we are approx 54k in debt, what a frightening figure! I have spoken to Debt Free Direct (your comments on this would be much appreciated) and they have been reasonably helpful and I feel that Friday is D Day as they will be collecting all of info requested, but.... something is telling me that this is not the best option, is it? Any help gratefully received.

Judy

[facingittogether]

hi trooper

i would personally speak to 2 or ips before making a decision.

thr fellings you are having are normal, i too felt all of those emotions! you are now at least facing your debts and not burying your heads!

i cannot advise you which option to choose for the best as i am not a expert!

our ip is melanie and i just found her and her team abolutely faultless!

good luck and let us know how you get on!

barb x