Is 5 years a long time ?

[Foggy]

I used to post these regularly and thought I would do so again today .....

When we enter an IVA we often feel / think that 5 years is a life sentence. But, as a few posters have mentioned recently, looking back, 5 years isn't really that long.

Remember back in 2011 ( 5 years ago) ...

Prince William and Kate got hitched.

Bin Laden was killed, as was Gaddafi.

Amy Winehouse and Steve Jobs passed away.

Japan was hit by the tsunami and we had those riots in London.

Not all good news -- but, still, it seems like only yesterday!

Hang in there -- It isn't such a long time in the grand scheme of things.

[kallis3]

Quite agree that five years is not a long time in the overall scheme of things.

I looked on our IVA's as a 'loan' that would finish and then that would be it.

It was 2008 when we started ours. Since then my daughter got married, had two kids, I retired, we've had much needed work done on the house and we have managed a few holidays.

Great when you can do it knowing that credit isn't paying for it.

[Foggy]

Yeah -- that is a "biggie" in my mind -- especially since I opted for early retirement .... everything is paid for and I owe no-one a penny --- one good thing about being a "pensioner" is that I doubt anyone would be fool enough to lend me anything anyway

[kallis3]

Mine was early retirement as well although we do still have a mortgage which will be ongoing for another 5 years.

[luluj]

Great reminder Foggy ... like Kallis we looked on it as a loan.
Ours ended in 2010 with a full n final offer following inheritance. The loss of my godmother was devasting but what she left behind enabled us to change our lives forever. We had already been predicted to pay back 91p in the £ before her untimely death so end of iva provided a great opportunity to move forwards.
6 years on debt free, house owners again, complete change to husbands job as now fully self employed, family dog and holidays every year albeit in the UK - not a penny owed to anyone and savings in the bank.
I normally say don't look back but actually occasionally it is good to reminise as it reminds you of the tough times you have been through.

[Foggy]

Indeed Luluj -- life certainly does get better in many ways.
Some, who have never been through it, look on debt solutions as the "easy way out" --- they do not appreciate the hardships and emotional turmoil involved. Everyone who is going through this and have gone through it can be rightly proud of themselves and, I believe, they usually come out the other side as better people.

[Vince_100]

Good Read. I'm only two payments into my IVA and I feel like 5 years is a long way away. But trying to get into the thought of after the 5 years is up , that's it! I'm free.

[luluj]

Vince_100 ...

5 years is 60 months

1 year is 12 months

1 year is 20%

3 years is 60%

Before you know it you will at the end .... once in a routine it goes really quickly and you do learn to budget and live life !