Can I get some straight answers?

[plasticdaft]

The ads shouldnt be allowed to claim any % of write off because they use that to lure people in. I know that normally a % is written off but thats not the main joy of an iva(surely the not having people chasing you for money is the main benefit)

[MelanieGiles]

Just to be clear - you will be required to explore the possibility of re-mortgaging your property during the final year of the arrangement, based upon a maximum 85% loan to value basis. Any equity which could then be released (subject to a deminimis figure of £5,000) would then need to be paid to your creditors, at which time your payments into the IVA could cease.

[Brandon]

Hi All
Thanks, you have given me some great advice.
I was drowning and so desperate to get out of my situation as it was driving me nuts. I read the information sent to me but I didnt understand all of it fully. The burden it took away was a relief initially but it is leaving me broke especially as prices keep rising. Its also a real lifestyle change to adjust to which you think you can handle easily but its not.

Being in an IVA is restricting but I brought it upon myself so I can only blame myself but it is hard to deal with the shame of not being able to afford a present for your God-child or take part in a weekend away with mates like you once did when you could afford it (although it was on the old credit card).

I've learned my lesson but still find it hard to adjust. I am in my second year and it seems to be going by so slow but I will surely raid my penny jar on the day it ends and at least have a good drink to celebrate.

Thanks all.

Brandon

[Viki.W]

Ah Brandon, I hope it all goes ok for you. Please stay in touch with the forum. We're all here to support each other. X