Passed the finish line to complete the IVA! Yay!

[ordinary_world]

Hi,
Just to share the wonderful news that this morning I received my Certificate of Due Completion confirming that I have successfully completed my IVA after 60 months. Wow - it feels so liberating to be free![:)]

So, how easy was the five year run? In short, not easy as life dealt its numerous blows...however, I must say a BIG thanks to Mel Giles and her team...who administered the process very professionally with close attention to client support i.e. being flexible, informative and understanding. Thank you Mel! [8D]

In short, to summarise my journey:

--2007: Enter IVA with partner with a joint debt of £116k and proposal of 48p/£
--2008: Car up in flames on motorway and we also decide to end our 13 year relationship (not at the same time though as that would just be wrong![:0]). I move out of the family home. Variation in IVA to 44p/£
--2009: We sell family property early to release equity into IVA due to change in mortgage market. Both me and the ex now swimming in the rental market - not good![:(]. My ex and I, after a period of understandable animosity, agree to put our differences aside and work hard together to make sure we both get through this amicably and with the children at the heart of our decisions and interaction.
--2010-12: Keep head down, work hard and ensure that commitments to IVA continue to be met.

So what have I learned from all of this? I guess the following:-

--Budget, budget, budget
--It's buyer beware in this world...so ALWAYS do your research (whether it's for a debt solution, tv, car, loan agreement or rental agreement).
--Ignorance and apathy can and will cost you dearly
--Never let anyone (be it a partner, peer or sales person) to pressure you to sign on the dotted line. Always read the contract and understand the benefit to YOU and not the other parties. If in doubt, don't sign! Ignore the small print at your peril
--Think long term rather than short term...favour compulsive saving over compulsive spending (the banking sector could learn from this)
--Martin Lewis should go for the Prime Minister's job!
--I've found my Ordinary World...[8D]

The above are just what springs to mind and sorry if I sound as if I'm preaching.[8)]

I will say that at the beginning of my journey, advice and discussions with Mel Giles, Andy Davie and members of the IVA forums were invaluable and empowering so thank you very much!

Good luck to all of those currently in IVAs and happy to share my experiences.

Best wishes,
Jon

[Niobe]

Excellent news Jon, really pleased for you.

Good luck for the future.

[Kelly O]

Congratulations Jon on completing your IVA

Thank you for your kind words about the team and all the best for your future x

[baldy]

Congratulations to you both.

Its really nice to read about people who have finnished theirs and how they got through it. Well done and all the best for the future.

baldy[:)]

[sponge]

Well done now you can start to save as you say. The YBS do a really nice on line cash account, no penalties on withdrawing and I think it pays 2% and a cash card max £250. per day. I use my nationwide cash plus account (with debit card) and between the two can fling money around as needed.

But don't bother trying to apply for credit (not that you will) the less lenders have on you right now the better. The consensus being don't bother trying to fix your credit rating just wait for the six years to pass and let defaults and your IVA drop off naturally

Even though I show IVA completed and all defaults satisfied I thought I might a apply for a nationwide flex account (a full debit card all debit cards are not equal) but the nice bank lady said to me don't bother it's still there, I wouldn't even lend you a pen to fill the application form in!

I have the free Noddle credit report I get one out of five as a lending prospect, can't get any less than that. I even have a perfect score on my nationwide account, well I had to have no overdraft facility.

It's that pesky IVA but is due to drop off in two weeks see if that does anything to my score

[Struzzo39]

well done you!! Fab news x

[Foggy]

Well done and congratulations !

Love the "pen" line, Sponge

[ordinary_world]

Many thanks to all for the supportive comments!

Sponge, many thanks for the tip about savings account..who are YBS? Are they Yorkshire Bank? I used to have the Nationwide Flexi account (included in IVA) and they definitely won't lend me a pen for a very long time!

Also, is there no benefit at all to cleaning up my credit file before the 6 year period?

[artemischild]

Fantastic news Jon and congrats to Mel's team to for another great completion.

Can i ask when you made your final payment in the IVA?!?!

Arty

[ordinary_world]

Thanks Arty. I made my first payment on 22nd June 2007 and last payment on 22nd June 2012....the slight delay in receiving the completion certificate was due to some outstanding paperwork my ex had to provide.

Melanie and her team have been fantastic and I would definitely recommend her to others (and I have!)

[sponge]

yorkshire building society. Nope won't do you any good at all. I will post as soon as the IVA and all defaults have gone late September see what sort of score I get then.

[ordinary_world]

Okay thanks...looking forward to hearing about your credit score end of Sep,

[MelanieGiles]

Thank you for taking time to share the history of your case with the forum. I, of course, have lived along the journey with you both, and I am so glad that things are concluded now and you are able to all move on. You have been brilliant clients to work with, and is some strange way we will miss you - although I am sure those feelings will not be reciprocated!!! Good luck to both of you.

[Niobe]

So glad your're sorted OW - good luck for the future and keep posting.

[luluj]

Fantastic news and what a journey you have had - but it has worked out for you and a few lessons have been learnt along the way - good luck in the coming months and enjoy life !