Swans_girl....very much agree......I have met all my obligations up to entering into the IVA process, but purely because I used money from other cards and loans and eventually this resource has run out or is very close to running out.
It has not been easy going through this process and unless I win the lottery it is my only chance to at least see a light at the end of the tunnel and not just continue in the spiralling downtrend of more an more debt.
Succeeding in my IVA will be a life changing...infact life-saving experience for me personnally.
I came into this world with nothing and still have most of it left!
Hi Mrs Moody i would just like to say good luck with whatever path you choose, choice is something that we all have and some of us have chosen the IVA pathway because that was the way forward for us. I too like you hadn't up to my entering an IVA missed a payment but as others have said was robbing peter to pay paul and couldn't sustain that way of life for much longer plus i wanted to sleep at night and not worry about what was coming through my letter box each day. Best wishes with whatever you decide to do.
Om shanti, namesté, good luck to all who are embarking on the IVA journey, it isn't always an easy one but the outcome is the best.
IVA COMPLETED August 2012, received Completion certificate 18.4.13.
Melanie....Mrs Moody posted that teh dividend was 19p/£1 for idvidual and 38p/£1 for joint debts.What I cant get my head round why was the dividend so low when Mrs Moody claims she wasnt struggling?
The creditors will be made up that they will be getting the amount back rather the such low amount proposed
Back to square one but what dunt kill you makes you stronger!!
Even though I have only just started my IVA, I am already reaping the benefits. I certainly do not feel like I am living under the eye of my IP with them dictating what I can and cant have. I dont have the freedom that I could slap what I wanted on the magic plastic and 'pay it off next month', but then again, that helped get me where I am now.
I have an account in the black for the first time in years and I am not consumed with worry working out if this months mortgage is coming out the day before my wages hits my account.
As for paying more than my dividend, well, It is what I owe. It may have been too easy to get, but ultimately, I took it, so I feel obliged to pay it back. All about self esteem and morals really. The banks might not give hoot on an individual basis, and to them, whether its 25p in the pound or 35p in the pound will probably not matter in their big scheme of things, but it does matter to me. Each to their own I suppose.
Fingerscrossed, the reason our proposal was so low (was told on here it wasnt that bad prior to change of heart!) was because my husbands wages change month to month, like I have also said in other posts, we had to base our proposed monthly payments around one of his lower pay packets. Had we have based it on an average pay packet, there would have been a few months of the year where we would have been £300-£400 down to start with. These are the months that make living tight when paying cards etc as normal, but after yesterdays 'windfall' thread and the way I would have felt in that situation I decided this route is definately not for us. There would be NO WAY I would willingly hand over something that was left to me by a loved one! The cons far out weight the pro's of an IVA in my opinion.. this whole process has been dragging on for months & months, What a headache, I'm so relieved to have drawn a line under it
Like with everything else in the world each to their own. Good luck with what looks like a change of circumstances and your jouerney of being debt free.
Back to square one but what dunt kill you makes you stronger!!
good luck for the future
mrs moody, why would the windfall agreement put you off
you say you are going to pay your debts in full anyway surely a windfall would just help you pay them off in one lump h more quickly.
if our iva is accepted then we will be pleased ghat we can finally budget within our means.
I have to say that I don't agree that the cons outweigh the pro's. I want to pay back as much as I can, if I get a windfall I will willingly pay it across so that I can be debt free.
By far the vast majority of posters agree that an IVA is the best thing they ever did.
I hope that anyone looking in and thinking about doing one is not put off. I would always recommend speaking to posters on here and ringing one or two IP's before making a final decision.
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
Mrs Moody - people who hand over 'windfalls' aren't just giving away their cash; they are paying back money they owe. Those who budget within an IVA aren't having their lives dictated - they have simply faced the reality that living off plastic and struggling (even if its a just a little bit) is no way to live. Choosing to be holden to creditors, extortionate interest rates and their hold over you for as long as you owe them money, is far more controlling and depressing than a IVA which takes away pressure and shines a light at the end of the tunnel. I hope your situation works out your way - I for one do not feel that my IVA means I have sold my soul and given away all I have! I've simply stopped burying my head in the sand, and taken a positive step for the future. And if along the way I have the means to pay back fully what I borrowed in the first place, why would I not want to do so?
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
I really don't see the difference between paying off debts in the normal way with an inheritance or paying off an IVA with an inheritance. Surely it's better to pay your debts off and have a fresh start than frittering the money away and trying to pay off debts and never ending interest?
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
