I'm just about to enter into an IVA i have read all the pros and cons about it and have accepted what consequences will come of it, i just want to know what to expect on my new journey of an iva?
You can expect annual reviews, obviously monthly payments and possibly paying across some of any overtime/bonuses you get.
Depending on the company then you might have to supply payslips every three months.
The forum is here every step of the way if you need help or support.
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
Well it is long journey,it sometimes a hard slog especially at birthdays and Christmas,send off every receipt you get for things like car repairs and such like,remember the end goal debt free,don't be afraid to question your iva company remember you are paying them to run you iva
Today 1st of December 2016 the vultures finally flew away
Once you get into the swing of things and budgeting things will feel easier. In the first few weeks you will go through every emotion and doubt, but it will settle down. Remember that the key thing is communication with your case handler, no question is stupid (and if the answer is stupid, come to us).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
You can't afford holidays, new furniture, a social life but you do learn what you need and realise that what you want you don't need. You get a sense of pride for paying back what you owe and not going bankrupt. You learn who cares about you and who was there when you were flashing the cash! I have done just over 5 years and now I am dreaming about what I will spend my money on when I complete my IVA but to be honest I don't think I will be able to spend the money as it makes you view your expenditures fore wisely. You will get fed up but the scales are balanced with your new sense of pride and success. Good luck
If you can make savings then you can have a few days away and a bit of a social life. We managed a couple of holidays during the IVA.
I will also say that going bankrupt does not mean you are not paying anything back - you may well pay back for three years.
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
Hi and welcome. The key is good communication with your chosen company, that would be my best advice. Any problems contact them straightaway and anything you're not sure of, drop them an email.
If someone gifts you money as a gift for birthdays or Christmas you can always save it towards a holiday. Some posters use the Sun holidays as a little getaway.
hubby and I used to save spare change and when we got £15 we bought a 2 for ten pound meal and a drink each from a local pub as our treat.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
