Hi all. Well ...... approved! Very relieved and cried on the phone, oh dear! Only thing is they want an extra 12 months to increase return so its no six years instead of five. They tried to get them to take it off but they wouldn't. If I said no, they said it would be classed as rejected. Couldn't do that so have agreed. Then at the five years 6 months mark, we have the equity thing too, so it might end up we pay for seven years! \feeling a little bitter sweet as the last year our payments increase by over three hundred as we clear our car finance and that has to be paid in too.
The IVA will give you a clear end to your debts and will protect you from any creditor letters/action. It may be longer than expected but it will be well worth it in the end
What a relief, I rushed home from work to look at this post! Little longer but in the grand scheme hopefully won't be too painful. Good luck on your journey and do stay in touch with the forum. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
thank you everyone. Have played it over in my head and I know we are doing the right thing. Even if we had of kept paying the massive monthly payments, I don't think the accounts would have been clear in six years! I can honesty say, I don't want credit again so what does it matter to me that this is on my file longer. At least the monthly payments weren't increased, that would have been hard. Thank you to you all for your support over what feels like for ever. I couldn't be more grateful x
At least you now have an end date --- get back into the swing of living in an IVA and you will soon settle into it. Apart from the odd glitch and if you dwell on it too much, time will fly.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
So pleased for you ... It is not easy accepting the changes but as Andy says it will bring your debts to a close and you will be able to start again. Try and take it in small bitesize chunks and remember we are here for you throughout your journey ...we have all experienced it ourselves x
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Try and relax a little and let things settle down now...your soon be thinking about your.first annual review ... iva passes quickly and once you are in budget mode its easy to stay there .... says she who finished her iva 4 years ago and has no debts other than mortgage ..... you can do ...stay focused!
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
