IVA COMPLETE

[Bob451]

Hi all
I’ve just paid off my IVA with the inheritance money I received .
They did it by the 100 pence to the pound.
My debt was £31,000
I’ve just gave them£26,500 including fees which was rather steep. £8,234.
But on the plus side I’ve still got nearly £7,000 left of the inheritance money for myself.
I had 4 years left on my IVA.
Thank you to you all on here that have helped me in the last two years.
I feel overwhelmed to be Debt free at last.

[Breezy]

It is gutting to lose an inheritance in this way -- but the departed have given you the gift of debt freedom, which will last for many years and, hopefully, the rest of your life. And the £7k excess is a great help !

As when you entered the IVA your emotions will be all over the place for a short while while the realisation sinks in. But things will soon settle down.

Onward and Upward !

[Bob451]

Thanks Breezy
This is one of two parts of inheritance money still waiting for the other half to come . So at least that one will be all mine.
I now don’t have any credit cards and will never have again.
One thing about being on this IVA it has taught me how to save money and budget better and that’s how I aim to carry on

[Breezy]

Excellent on both counts, Bob.

Yes, a great part of the IVA process ( in my mind) is the rehabilitation and reconnect with real money, as opposed to "magic plastic", as well as the discipline regarding saving, spending and budgeting.

I am 10 years out the other side and still use my IVA budget to live on.