Approved ??

[nevillebunny]

I got my IVA approved today (yay). But they said there were a few modifications regarding the charges by my IP Company, is that normal and is it going to affect me? They said my monthly payment would not be affected?

[Foggy]

Well done on the approval. The creditors often amend the fee structure these days to a percentage based fee rather than time spent. It will have no effect as far as you are concerned.

[nevillebunny]

Thank you Foggy appreciate your reply, still a little uneasy about it all and trying to find my way.

[Foggy]

I think we were (are) all a little uneasy "going in" and go through a range of emotions ( I know I did!). But is will soon settle down and you will (well, I did, anyway) get pretty anal about budgets, digging out bargains and tracking expenses. You will also start to read those supermarket offers more carefully and kearn that the bigger packs aren't always the cheapest (certainly in Tesco).

We are all here to help, advise and support whenever needed --- indeed one of our nuymber is often online at "silly o'clock in the morning" ... that is to say the middle of the night when most of us are unconscious!

[luluj]

Great news .... Your way of life will change and as foggy has said you will get used to looking at supermarket offers ! Don't always jump into the BOGOF offers as they aren't worth it sometimes. Nowt wrong with supermarket own brands ....half the time they are the same contents but different labels!

Feel free to ask as many questions as you like x

[Radish]

Well done at been accepted. IVA's are not easy but at least its one monthly payment and a countdown to a debt free future.

[kev59]

well done, you will soon find ways of saving money.
its not easy in a iva, but for me it was the best thing I done in years and I look back on it now, knowing I will never get into debt again.

[nevillebunny]

Thank you all for your support. Had it agreed yesterday, just waiting for the paperwork and then it will be up and running. Just be glad when its up and running and in place, then can to begin to move on with it. I appreciate your support been a rough few months.

[plasticdaft]

Brilliant news and I'm sure you will be at your first review before you know it.

paul

[nevillebunny]

Thank you all, still trying to get to grips with it

[ivamess]

Ours isn't approved yet but we are "practising" living on our budget and appear to be better off than we were before. The amount that we were paying our creditors was scary, there was nothing really left for us at all.

[Shining]

Hi and welcome from me too. With the support of the forum you're never far away from a reassuring note. We've all felt the same and experienced so many different emotions throughout the duration of our IVA's. Why not have a read of some of the blogs they give a good insight into life in the IVA, mine certainly didn't run smoothly in the beginning but with a good IP as support I got there in the end as I'm confident you will.

Keep posting.

[welshwiz]

Congrats nevillebunny and good luck ivamess

I am 2 years into my iva can't say its the best thing I did but can honestly say the help and advice on this forum has made it a lot easier, and as plasticdraft says you will soon be at first review, cant believe we are 2 years down, am waiting to hear on F&F settlement otherwise only another 48 months to go. Good luck with your journey.

[becp]

Congratulations, it's a bit tricky at times and it's made me a bit of a control freak when it comes to spending but it'll be worth it when its all over

[MelanieGiles]

Belated congratulations from me for another accepted IVA as well. I imagine the modifications submitted by creditors had the affect of reducing the fees initially proposed by yourself and the IP - sadly this is very much a trend within our profession which has prevailed over the last few years.

The good news for you is that it has absolutely no effect on you, but nevertheless it is important that you are made aware of the level of revised charges which I assume will have been confirmed in your Chairman's Report.