This episode in my life is helping me for the future, I have been helping my partner get his house in order recently due to his X making very unreasonable demands from him it transpires he has less to live off than I do and he has to feed his children after school every night as well! I count my blessings that I have taken this route as you say Jan in 5/6 years time it will all be over and my slate clean. Plastic cards etc you can keep them, i have managed without them for the last 30 months so that in itself has been positive.
Om shanti, namesté, good luck to all who are embarking on the IVA journey, it isn't always an easy one but the outcome is the best.
IVA COMPLETED August 2012, received Completion certificate 18.4.13.
Hi Mrs Moody. IVAs are not for everybody and I wish you all the best for the future. I am glad you had help from this ite and you should keep posting to keep us up to date with how you are getting on.
I do agree that the Individual is being taken out of Individual Voluntary Arrangement making IVAs very difficult for some but they do have a function and are a huge help to many.
I hope you get your partner's finances sorted - some ex's can be so unreasonable can't they? Mine had trouble with his ex many years ago. I'm thankful now that it was sorted and we do now all get on.
Not many people can say that their hubby's ex was at their wedding, and we also went to hers!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I dont feel like a naughty school girl, I feel that I have put in place a solid plan that has made me a better person,I appreciate everything I have I think more and when all said and done it dont matter if you have money left over after paying your bills, food etc if you dont budget regardless of earnings you get into trouble.
Fail to Plan....Plan to Fail!! Basics
I am sure you will find what works dfor you and your family. Good Luck in your journey to being debt free
Back to square one but what dunt kill you makes you stronger!!
If you can afford to pay your debts, then you are in a great place and probably didn't need an IVA in the first place. Creditors will also be happy with your decision, because they will be able to pursue you freely if you don't meet the repayments on time. I wish you the very best of luck with everything, and if the plan does not work and you struggle, a DMP potentially would give you a little more flexibility that the IVA in the first place.
Im not suggesting you should feel like a naughty schoolgirl Fingerscrossed, I'm just saying thats how I would feel. OK, we wont have bags of money spare, but we can manage, and at least if I were lucky enough to get a windfall, I will decide what to do with it. If I want to clear some debt with it then it will be because I choose to not because somebody told me I had to.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Melanie, up until we started the IVA process we never missed a single payment on anything, I have never had a letter or phone call from anyone up until recently when we started making token payments. I feel like we are in a bigger mess for starting this process than we were before because now we have to try and make amends and catch up. Luckily we put all the payments we didnt make into a savings account so apart from a few defaults we can get back on track pretty quickly with a bit of luck. If we do decide to go DMP I will arrange it myself, I like having control of my own money!
Earned income Melanie. Just looked at the debt and realised how long it would take to pay back, I guess we looked at IVA as an easy route because we wouldnt have to pay it all back and can be debt free in 5 years. but thanks to this site I realised that for us an IVA is actually more unpleasant and restricting than the debt itself! Told hubby how I felt this evening and he's pretty pleased with that decision too
You really are doing the right thing, I am just suprised that an IP thought you were candidates for an IVA. What dividend was the IVA going to be returning?
Personally, I don't find an IVA restricting or unpleasant.
I'm glad I had the chance to sort myself (and hubby) out!
Good luck Mrs M, hope it works out for you.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Can I just add the majority of posters have never missed payments to creditors either before proposing an IVA.
IVA's will work for those who can see the debt spiralling out of control and having to rob Peter to pay Paul each month.
If someone can comfortably afford to repay the money they owed, but are looking into an IVA purely to lessen the repayment period and avoid repaying all the debt, then surely an IVA should never be proposed in the first place.
