Just a note for all those people who are in an IVA that there is light at the end of a long tunnel.
2007- £25000 in debt with credit cards maxed out,loans and a right old mess and declined for everything with no way out and a pile of stress and depression and no idea how to get out of this mess.
Very sceptically i decided i did not fancy Bankruptcy nor a never ending Debt Management Plan so trawled the internet and found Melanie's Firm and opted for an IVA which was accepted and agreed for 5 years.
2008- The long process is in it's first year and glad to get it out of the way and although money is very tight at least i am sorting out the debt and there is an end to all this.
2009- The frustration is now setting in and feel like my life is stuck on hold with everyone going on holidays and enjoying life and im stuck in the IVA process with yearly reviews etc
2010- The wilderness year and the hardest part of the IVA process as you are bang stuck in the middle and want the finish line to appear and feelings of never ending start to set in and have feelings of jacking it all in (This is where this forum Helps Big Time!!!)
2011- The light is beginning to appear and feel like you can give yourself a pat on the back for coming this far so determination to get to the end is a must as you don't want o come this far and it all fails now!!!
2012- You can now make some sort of plans for a Debt Free Future the light is getting brighter and there is an end and closure and DEBT FREEDOM!!!
2013- It's all Over and DEBT FREEDOM!!!! if you get the Completion Certificate and Extra Cash for you to save and put away and you feel TOTALLY REHABILITATED!!!!
Now it's all about clearing up your Credit Report and removing those Nasty Defaults.
2014 - All defaults Gone, Never want Credit Cards ever again (VISA Debit Card Only from now on!!!), Credit Score back to normal, still using Coop Cashminder Account as never want to be overdrawn again, applied for small Car Loan and ACCEPTED!!!!! as i need a new set of wheels and live within my means.
THERE!! IS LIGHT AT THE END OF THE TUNNEL!!!![:D]
Last edited by andrewgoodman121 on Fri Jul 11, 2014 12:06 am, edited 1 time in total.
Great post to share your experiences with other forum members Andrew - and having lived that journey with you at every step of the way, I am so proud to see your rehabilitation now pretty much concluded. WELL DONE!
Totally agree with everything you said andrew & We are just through that tunnel also ,
It seems to me after reading through many a posting - for post iva, ( or even during ) replacing a car is the biggest thing we have to face after the iva is completed.
So with great trepidation we have taken out a small & manageable personnel loan over a 3 year period to replace my car. It's second hand ,8 years old, low miles & should see me out for at least 5-6 years.
It did not feel good to have to borrow that money but it was a necessary evil -
IVA COMPLETED & CLEAN CREDIT FILE.
An old bible proverb says this: the rich one rules the poor, and the borrower is a slave to the lender.
