Newbie needs Friends

[frenchie696]

Hi all,

I have applied for an IVA with my partner. Just been told our creditors meeting is in just over 2 weeks. Really glad we took this step but nervous now as if it is rejected I do not know what will happen. I hope that this gives us some financial freedom and the ability to sleep at night.

Your thoughts, comments appreciated,

Frenchie

[indebtscared]

Hi there, hope you don'y mind me replying, we were in your position this time last year, I was so rock bottom I could see the hot molten core of the earth. But have faith in your IVA company,and your proposal will be the best you can offer. The helpful lovely people on here will tell you (as they did me ) try and remain strong. We are in such a good place now, it is very tough to live within budget limits, but it is so much better than living in fear of calls/letters from people demanding money. Good luck from me.

[LizzyPayplan]

Hi Frenchie,

Welcome to the forum! This is definitely the place to be. I know you will be worrying lots and lots over the next two weeks but there are plenty of people on here who will offer you all the help they can.

I am pretty sure that whoever is doing your IVA with you wouldn't have suggested it if they didn't think it had a very good chance of approval. So keep remembering that if you do start to worry.

Good Luck!

Lizzy

[frenchie696]

No I don't mind at all it is good to know that there are people out there in my situation and that an IVA works for them. We are getting good at living within budgets, what I am hoping now is that we will finally be able to afford to eat properly and go shopping without a feeling of dread. We were stealing from peter to give to paul every month but fingers crossed there is light at the end of the proverbial tunnel. We have a brand new account now where our salary is paid so this month for the first time since I can remember there is money in our account that s not swallowed by creditors! I have just finished my online shop - I felt like I had won the lottery. I just want to go to sleep and wake up on the 14th March when our meeting is. The waiting is terrible.

Frenchie

[frenchie696]

Thank you very much Lizzy,

I am so glad to have found this forum - reading through some posts from others and everybody is so supportive x

[frenchie696]

If anybody has some comments / advice on what it is really like living in an IVA I would be grateful. For example will I ever be able to go to the cinema/ have a bottle of wine etc.? Is it like living on Job Seekers allowance? I have a good job and work very hard, 5 years of living that life will kill me! Don't get me wrong I don't want to go on Holiday cruises every year and bath in champagne, but I am wondering just where on that line life really is?

Frenchie

[relieved33]

I think that you have to reassess what your priorities are. For us, it's saving for our son's birthday and Christmas etc. We do have the odd bottle of wine - normally 3 for £10 but still a nice treat. We haven't paid to go to the cinema - but cannot justify spending £15 on 2 tickets. We've got cheap DVDs off ebay to watch and enjoyed the nights in. We got a puppy last year and enjoy walking her together which is free.

We find we have enough money to live on the frugal side of normal but by no means do we have to have beans on toast every night! We stock the freezer by shopping after 7pm and often get bargains. Tonight I'm making a lasagne from scratch with steak mince reduced to just 59p for 500gms!! Hubby and I were talking yesterday as we have £17.57 until I get paid on Friday. However, we have paid all the bills, paid for my car tax, treated our son to a day out and birthday presents. Both cars have petrol and we have enough food. Two years ago we were wondering how we'd eat and drive to work as once the mininum payments had been met and bills paid, we had already dipped further into our overdraft.

Time flies by in an IVA and once you've got through year 1, it really feels easier as you know you can survive Christmas, birthdays etc. I do surveys through valued opinions and you gov and have joined quidco - all learned about through this website. We get about £10/£15 per month in vouchers which are saved for Christmas.

However hard you think it will be, it will be such a relief mentally that you have mad a good decision.

Good luck and use the forum - we had issues last year when hubby's car died. With advice from the site and help from cleardebt, we've managed to lease a new car for hubby that will see us through. We'd never have known about that without the site.

[ginger3232]

Hi - No one is going to say its easy - it aint, however what most people find for the first couple of month difficult is re training themselves to work within a budget and working with cash.
The IVA does allow for treats (the odd bottle of wine on the household budget).

What some people also do is look at things they dont use (old DVD etc ) and sell them to get themselves a night out in a resturant etc - or even a week away under canvas or even a little pot of savings ,just in case the car needs work/the boiler goes bang.

The IVA can seem a long time - but at end you be a master at sticking to a budget and identifying whats important and what not to you and your family.

[susieq73]

Hi, I am not in my IVA as yet but I've already been thinking of where I can save money - I have been struggling to eat and live as i've made sure i've paid all my minimum payments until now...this will be the first month that I am not paying he min payments to around 5 of my creditors, just paying nominal sums. I know its going to be hard but again i've joined up to do some online surveys for which i'll get vouchers, i've also been selling DVD's, Wii games etc on Ebay and even sold my Nintendo DSI which was a present. But needs must - I too look for bargains everywhere, all the pound shops, B&M's etc. My shopping is done in Lidl and Netto and yes its already a struggle but if my IVA is approved - I know there is light at the end of the tunnel.
I find this forum a lifeline now - and I am sure you will too.
xxx

[salkitten15]

Hello- Welcome from me also.

I'm coming up to a year in my IVA now and it took me a long time to learn to budget....it's something I've never had to do in my life!

But you get there because you have to, and you find ways to make it work for you.

Just because your living an IVA life doesnt mean you can't have the odd treat here and there, everybody does, otherwise the next 5 years would be pretty miserable!

Great advice from ginger, it's something I also did myself.

Good luck.

[frenchie696]

Thank you both for your comments,

I am starting to feel a bit less nervous. We are in that situation (or were last week) where we did not think we would be able to afford the petrol to get to work and I am sure that anything that means we don't have to live like that is a bonus.

It must be particularly difficult for you with a little boy to think of too. I know you are right about priorities, we are learning to live with a budget already as we need to but we got an excellent account that has two sides to it and automatically takes from the salary what is needed for bills and puts it to one side, so we know our bills will always be paid (I have to admit that was not always the case, though the rent has never ever been missed).

Some good shopping tips there relieved33, thank you! We have been sorting out some old stuff ginger3232 although it has not always been easy.

My partner sold something special to him and it broke my heart - he did that so that I would not have to sell something equally special to me. At least this way we we have a plan and a definite date without the need to go to such measures in the future hopefully.

A wage went into our account today and we have straight away done our shopping and took out a wee bit of cash (we are going to start trying to save a little every month in case of an emergency).

Thank you for you supportive comments. They really do help,

Frenchie

[frenchie696]

Thank you Susie and Kitten for your comments also,

some great advice! Susie, when is your creditors meeting?

Frenchie x

[karen]

Welcome from me too....your will find this forum a godsend over the next few weeks and a great support during your IVA. You have taken the most important step and you will be debt free in no time. There will be ups and downs and you'll have a million questions but there will always be someone on here that can help with advice or a friendly word. This time for you is fraught with anxiety we have all experienced this and are here to help. Good luck with you IVA I'm sure you will be fine.
Glad to see Lizzy from Payplan on here too....
Karen x

[ginger3232]

Oh dont sell special things ! - just stuff that does not really mean anything, - once that special stuff/memories are gone, (old saying "dont flog the family silver" you wont be able to get it back.)
Raid the garage - sell on at a boot sale (old clothes you never wear etc.

Saving a little every month is great - may not be a great amount ,but its a good morale booster

And yes it would be nice to give you kids "everything" but it does not gel well to them becoming caring/understanding/socally balanced children.
You love/attention/ and time are more important than anything else you credit card could buy !

Remember most people on the forum have been there/or going through it now, so even if you want to "bitch",use the forum.

[frenchie696]

Thanks guys,

I am already finding the forum a real help and there is lots of good advice and tips. Just hoping and praying it is accepted!

I don't have children at the moment, we were trying and are discussing putting those plans on hold for a while - at least until we get used to living within the budget.

Going to sell some old clothes on ebay soon - as soon as they have a free listing day!

Frenchie xxx