Recently entered into an iva in June and I have completely regretted it ever since I had no idea it affected so much. It has even affected my ability o get insurance policies,no idea why but it has. I can't. Get a bank account And I also lost my business account,which I was told by the company wouldn't happen. I'm miserable, depressed and bordeine suicidal but I am £20 per month better off...wow! What was I thinking... just. Wish I could go back.
Sorry to hear that Rob . All I can say is that at the end of the IVA you will be debt free . Not an easy journey , I know , but was worthwhile to me . If you're struggling with the budget I would contact your ip and flag it up as they are there to help . Hope things get better for you . Good luck for the future.
Hi Rob ... an iva is not an easy option out and your income and expenditure should be set at a realistic level to ensure you live a comfortable life. I would ask them to reassess your payments fully as only being £20 a month better off does not sound right.
Regarding your own feelings at present pkease use the support of this forum tk help you through the difficult times. There is normally one of us experts or moderators on to give you support that you need ... life does get better and the iva does settle once in a routine when the i&e is set correctly I promise.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
You should think about letting the IVA fail and going bankrupt. If you feel like this after only a few months it is highly unlikely that this IVA will last. You could also speak with your IP about reducing payments which might make things easier.
