I am looking at taking out an IVA but I am so scared and at times suicidal about my position.

[luluj]

Carry on posting ...we will always be there or you x

[Shining]

You'll not be clogging up the forum and I'm sure you post will help others in a similar/same situation as some just like to read and not post.

Do keep posting as we're all here for you.

[Denise.gn]

Hi, sorry me again, I have read a story on an IVA website from someone who has finished an IVA, who could only have the IVA accepted if their house was sold as they had no equity in their home. I was under the impression that your house was safe within an IVA process, and that year four would be the only time you would be expected to try and re-mortgage your property, or extend your IVA by another 12 months??

[Shining]

I've not seen that Denise but don't let things worry you, Melanie will give sound advice. all IVA's are individual too so what's in one proposal isn't necessarily in the next.

[Denise.gn]

Ok thanks Lesley. I will def talk to Melanie next week, there have been so many positive comments about her on this forum and its great that she also participates on this forum too.

[luluj]

She is invaluable to this forum and supports so many posters both clients of her own firm, or clients in need of advice ....let us know hw you get on next week x

[Shining]

Melanie was my IP for the duration of my IVA always contactable, always realistic and my IVA ran as smooth as it could despite numerous obstacles thrown in its path at the outset of it.

[Rich]

Hi Denise,
I offered a full and final settlement in my second year. My Dad passed away and Mum moved into a smaller property so she had some money. I found it really hard to tell my Mum, but if I couldnt talk to her, who could I talk to. She offered me £10,000 which was put forward as a full and final offer. Unfortunately it was rejected, by my creditors. I had to raise the offer and it was then accepted. I had equity in my house also and was concerned about the house being sold etc. But at the end of the day I had to face facts and do something about it. Everything happens for a reason and it always works out ok in the end. I owed a lot more than you Denise and I have managed to come through this. You will too. Your making all the right moves talking things through with the IPs and other people on this forum. I know it will work out well for you in the end. We have all been through it and I know its not easy at this early stage. Keep strong and take one day at a time, dont worry !
best Rich xx

[Denise.gn]

Are people happy to share what sort of problems and obstacles they had when setting up and starting an IVA, just so I can start thinking about them and making sure I am prepared, and get myself sorted? I really appreciate everyone's situation is different but would be good to hear from you.

[Denise.gn]

Thank you Rich for sharing this information with me, and on this forum. I really appreciate this.

Denise xx

[Rich]

I am more than happy to share my experience with you Denise. My IVA was set up without any problems and run very smoothly throughout the year. Payments were made monthly by standing order so it was always paid ontime. I heard nothing from my IP during the year and made my final settlement offer just before the year was up. There was just a couple of probs getting the final offer accepted, but with your IP working along side you it was over to them to sort everything out. x

[Rich]

A lot of members have written blogs about their experiences, they are all very informative and well worth a read, x

[luluj]

Off course we will....more than happy to. For us we chose to sell up and move out of our own home and went into rented for three years. This allowed us to walk away not having a secured loan and a mortgage to deal with. We rented as i say for three years and for us it was the best decision we could have made ....we started our lives again.....mid way through our third year my beloved godmother very suddenly passed away and unknown to me i was left a significant sum of money that allowed for the IVA to finish and creditors received 100% back of what we owed.....we were then also able to buy another house and this is when i met Ryan our mortgage broker and he worked his magic to get us a mortgage while the iva remained on our files....

It has been a challenging six years....July 2007 we made our initial phone call to DFD....six years this year and it will all be removed from our records....a massive journey, but one that i will never repeat and one that i m grateful for experiencing as i have learnt so much.

[Rich]

Luluj

its great to know a little more about you x

[luluj]

Thanks rich.