Hi All, firstly sorry for the long absence. Thought I'd drop by and let you all know how the IVA is going. We've now made 3 payments and it's fantastic to have money left at the end of each month, even if it's just a couple of quid, knowing that we haven't set on any more debt. We're slowly learning to budget better, the first month there was waaay too much month left at the end of the money!
My wife got her promotion at work and we've religiously been paying the extra required into the IVA.
We had a nightmare when the car had to be MOT'd basically It had a water leak in the boot for what must have been years and the water had run down the wheel arches into the sills and rotted them from the inside out. While my brother in law had it to repair it, I borrowed my Dad's wife's car (ought to say step mum but she's my sister in law so seems a bit weird, long story!) Anyway the money it was going to cost to put it through the MOT didn't really justify it, my dad offered to sell me her car, as she never uses it, for £500. Got £300 for mine and £200 we'd saved on the run up to IVa meant we got a car that although is quite old (p reg) with intergalactic mileage (150k) is in VERY good condition with a full years test and nearly a years tax and prior to my dad buying it had a Full Mazda service history. The downside is, my old car was a diesel, this is a petrol and is thirstier. However the tax is cheaper so weighs the extra cost out a little.
There is absolutely no doubt in my mind that looking into getting an IVA was the best decision we've EVER made and I'm very optimistic about the future. I know if it weren't for the IVA we'd have just carried on sinking further and further into debt and I'm so grateful to Mel and her team for making it all possible.
And as a footnote, I promise I'll try and be around here more often!
That's a lovely post to read - and always so pleasing to see the real effects on lives that an agreement with creditors can bring. I am glad to be playing a very small part in this turnaround, and hope you will post more as the months roll on!
Excellent post just surviving and it's lovely to see you on here again.
Glad you're managing to survive and budget ok. It's brilliant when you have money left isn't it?
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
Oh My god your situation is so similar to ours,esp the MBNA problem. We are in the process now of putting together paperwork and sorting bank account, I've not yet made the approach to ring Melanie, but having someone on here that I already know (a member whose IVA is now completed) has helped immensley with all my questions. Good job the phone bill is a one off cost, phew its been burning at our ears.
Thank you melanie for your answer on page 2 about salary rises because that has helped with a question I had this morning.
I'm sure there will be more questions but I'm giong to start my own thread I think. going out in a minute so will do it later.
JS your words and the way you have typed your posts has put into words exactly how we feel....thanks for sharing your experiencese.
Hi leaKybrain, No problem, I hope that when people read the posts on here that it inspires them to make the call. All the experts on here come from very reputable companies, and I just wish people thinking about IVA's did a little research and found this forum before going to the 'shady' companies that unfortunately exist. If it weren't for them I think that people would see the IVA industry for what it is, an excellent opportunity for people to say goodbye to debt and get their lives back on track.
When in an IVA the budgeting lesson is a lesson that has to be learnt VERY quickly like I said the first month there was waaay too much month left at the end of the money but we're getting in to it. What we haven't done so far and are going to do this month is stuck to the budget that Mel and her team gave us, rigorously. We've both earned more than our basic pay each month and the overtime has been spent but only because we went on a Sun holiday to Yarmouth last month which had been booked for months. It was really good and we'll definitely be doing them again. What I want to do is try and stick to the budget and save our overtime money to build up a contingency for any emergency that may arise or Christmas and the like.
This month when we get paid we're going to pay the IVA the extra needed and draw the equivalent and our 10% allowance and put it in a tin (the ones which you need a can opener to get in to) If we can get used to living on the budget this means we should very quickly build up a contingency and more importantly we'll know that when a basic month comes along we'll be able to manage comfortably without thinking 'oh god - no overtime, what are we going to do! I had a period last year where we lost all our overtime one week and were put on 6 weeks of three days the following week, if we had a contingency to make up the short fall this wouldn't be a problem if I were unfortunate enough for it to happen again.
If you do ring Mel and her team I can honestly you'll come off the phone feeling like a weight has been lifted even though the IVA process will have only just begun. I have nothing but admiration for Mel and her team and the work that they do, nothing is too much trouble and no one is ever judgemental and are very approachable about any concerns you may have. I know as much as anyone how daunting the initial phone call is, half expecting a teacher to pupil or parent to child like lecture when you ring, when the reality is all you get is a very understanding ear from someone who will give you the best advice they can.
As you can see from my posts I made the call back in February and from making the call to the IVA being accepted seems like quite a long process but it isn't really, the quicker you can get the information required together the sooner Mel and her team can act. But as no end of people on here will tell you it'll probably be one of the best calls you ever make.
If you've got any questions then you can search on here they've probably been asked and answered already, however there are A LOT of posts to trawl through,if you're like me you'll have been reading for weeks already, getting as much info as you can. It's sometimes easier to ask the question yourself there's always someone around to give an answer, I dont know for certain but I'd hazard a guess that no one has EVER had to wait longer than 24hrs for an answer to any question asked. I know Mel and the other experts put in a considerable amount of time on these forums answering peoples questions and to their credit it's time they willingly give for free proving once again that the industry isn't a rife with con artists as some people would lead you to believe.
Now I've rambled a bit I'll just finish by saying Good luck
It's always there, as opposed to threads which do disappear and I'm sure that other posters would love to read about it.
Plus you stand a chance of winning vouchers by doing 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
Thank you so much Jon and everyone else. I've read quite a few bits on here over the last few days, there always seems to be questions after the answers [:)] but knowing that once I get the next few weeks over with I can make that call.
I'm changing bank and will be doing the direct debit changes myself which hopefully won't be too much hassle, I know that the bank would do it, but seeing as I already have the paperwork and they would have to wait for it to be sent its quicker his way.
I know what you mean about living in a budget and I do think we can do it, we've done it before, a long time ago when we were first married, no credit cards or loans back then LOL.
i love getting bargains LOL, I;ll have to plan out a route along our main road shops to buy the bits I need for the week...though I do think Asda isn't a bad one to shop at.
I must admit that I find I spend more money shopping in seperate shops than I do going to Asda. There I know exactly where everything is that I need and I can avoid the aisles I don't want.
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 go to a few shops but main is done in Sainsbury and mostly from basics. You'll find your own way which suits you and in the end.
I enjoy sourcing a bargain. Today my fridge has decided to pack in! Luckily I've a little contingency but I loathe to spend it as it's took me a while to accrue it and it'll be wiped out in one! GRRRRR
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Have you had a look on Freecycle? There might be something on there.
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
