Large Debt IVA Approved today !

19 posts Page 1 of 2

Bigdebts

Posts: 11
Joined: Fri Apr 27, 2018 3:31 pm

Post by Bigdebts » Fri Apr 27, 2018 3:39 pm
So after dealing with vast debts for many years I finally requested an IVA after a drop in wages at work. I had accumulated over £120k of debt over 12 mainstream creditors and after struggling to meet minimum payments contacted PayPlan. They were more than helpful and now I can live a live of less stress and woprry about where the next pennty to keep up the payments will come from and start looking forward to a debt free future. Its taken its toll on me and my family but at last and end date is in sight insread of just seeing paying interet off for the rest of my life. The countdown starts now ..

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri Apr 27, 2018 3:41 pm
Well done and welcome to the journey. Now you are in control !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014

Bigdebts

Posts: 11
Joined: Fri Apr 27, 2018 3:31 pm

Post by Bigdebts » Fri Apr 27, 2018 4:09 pm
Foggy wrote:
Well done and welcome to the journey. Now you are in control !
Thanks @Foggy - I have lived with virtually no money for so long - Its strange to think there is now a date in site when I will be 100% debt free and not owe a penny ..I cant wait !!

MerlinL14

User avatar
Posts: 1626
Joined: Sun Oct 30, 2011 2:44 pm
Location:

Post by MerlinL14 » Fri Apr 27, 2018 5:26 pm
I think we all feel that stress lift when an IVA is approved and it just goes to show that even large debts can be accommodated and accepted by creditors. Although you won't be rolling in it, you will be in total control of your disposable and not worrying if someone else is going to write to you and take it from you. Good luck in your journey Bigdebts.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues

watzki

User avatar
Posts: 353
Joined: Sun Dec 20, 2015 6:52 pm
Location:

Post by watzki » Sat Apr 28, 2018 2:31 pm
Good luck bigdebts we had 100k+ debt and feared the future,then we made the phone call in 2010.
Now roll on eight years we are debt free and in total control of our financial lives.
It's a long slog at times but well worth it.
Today 1st of December 2016 the vultures finally flew away

stmw

User avatar
Posts: 24
Joined: Sun Apr 01, 2018 11:30 am

Post by stmw » Sun Apr 29, 2018 4:44 pm
Amazing! Good luck with it all xx

Bigdebts

Posts: 11
Joined: Fri Apr 27, 2018 3:31 pm

Post by Bigdebts » Mon Apr 30, 2018 1:46 pm
Thansk for all the good wishes guys, It really does mean a lot.
First payment done and 59 payments to go : )

Then end is a fair way off however there is an end at least where there was no sight of one before !!

Thanks again everyone

mariah9

Posts: 5
Joined: Wed May 02, 2018 7:12 am

Post by mariah9 » Thu May 03, 2018 6:17 am
Congratulations!!

kallis3

User avatar
Forum Expert
Posts: 77167
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Thu May 03, 2018 2:38 pm
Well done from me as well.
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

Vince_100

User avatar
Posts: 55
Joined: Mon May 28, 2018 2:51 pm

Post by Vince_100 » Fri Jun 08, 2018 3:46 pm
Good luck. I to have just started my IVA journey, i'm two payments in :)

katana2471

User avatar
Posts: 48
Joined: Wed Sep 14, 2016 12:30 am
Location: United Kingdom

Post by katana2471 » Sun Sep 16, 2018 11:07 pm
Just finishing my second year
4 to go
But the 2 years have flown by.
Can't wait to be debt free...
Never again will I get in such a mess
At times it's been bloody hard.
No holidays no luxuries I learnt to survive and live without them.......
Good luck on your journey...
Stay on here and share your experiences
Foggy is great for advice.

Bigdebts

Posts: 11
Joined: Fri Apr 27, 2018 3:31 pm

Post by Bigdebts » Sun Nov 29, 2020 4:34 pm
Hi guys just thought I’d pop on and give an update - I’m nearing completing 3yrs in April, it’s had its ups and downs since joining the IVA but 100% worth it. Payplan have been great with payments and I’ve used a few of the payment break holidays when my wage was a bit low. It’s not been a walk in the park however I have enough money to live on without having to struggle and the end is still in sight. I’m Pretty stress free now, my anxiety has reduced and having an end in sight is a great feeling.

For anyone worried about the IVA don’t be, Payplan especially have been amazing and helped me every step and been friendly about it without being judged. I haven’t had any creditor contact for over 2 yrs now, so even better considering my iva was for over £120k

Il pop back again once I’m near the end 👍👍

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Sun Nov 29, 2020 5:35 pm
Great to hear that it's going well ..... your IVA is doing just what was intended. On the downhill run now :-)
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014

Bigdebts

Posts: 11
Joined: Fri Apr 27, 2018 3:31 pm

Post by Bigdebts » Sun Nov 29, 2020 6:16 pm
Cheers foggy you helped me a lot at the start bro 👍👍

It’s crazy when I look back I was paying about £1300 a month on interest and payments with no end in sight, which dropped to £400 and an end date. Just gotta keep cracking on follow that light at the end of the tunnel

luluj

User avatar
Forum Expert
Posts: 11333
Joined: Sun Dec 09, 2007 6:54 am
Location: United Kingdom

Post by luluj » Tue Dec 01, 2020 4:00 am
So nice to get these updates ... gives others real hope for their IVA journey.

Stay in touch x
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
19 posts Page 1 of 2
Return to “IVA approved!”