My wife and I have made our last payment this week. We started our (interlocking) IVA's in November 2012 and after 6 years (our IVA was for 6 years from the start) and a 3 month payment break when we moved house the payments are finished. It's been a long slog but it's definitely worth it. We are now awaiting our Completion Certificate and removal from the register. For anyone contemplating an IVA I'd say do it as the positives far outweigh the negatives.
Pleased to hear you have finished - good luck for your debt free future.
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
That last payment feeling is almost as good as the first payment knowing you have made strides to get out of debt. Congratulations, and I agree, an IVA was the best option for me and my wife. It has made our life so much fuller now we are debt free.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
Me and husband made our final payments at the end of December - 6 long years (added year due to Equity Release) but it did actually go fairly quickly. I haven't posted on here for ages but at the beginning of our IVA's, this forum was a lifeline for us with great advice and support. We have been with Melanie Giles all throughout our IVA's and she has been great from start to finish - we had a meeting with her in December 2012 and our IVA's were approved in early January 2013 and she and her staff (with various changes along the way) have made it so much easier for us than it might have been with some of the other companies I have seen mentioned on her.
As the other posters have said, it has been a long, hard journey but it has been the best way for us to deal with our debts, we can now look forward to the future, still in our house that we would have lost if we had gone bankrupt (desperately needs some TLC but we're still here), and rebuild our finances having learned a painful but useful lesson. Still strictly budgeting and enjoying it, won't really appreciate the extra money until my next pay day but feeling better already. Best of luck to everyone who is still on their IVA journey, stick at it and know that it will be worthwhile in the end.
I received a text from CreditFix yesterday saying that the IVA has successfully completed and we will receive our documents shortly. It's a relief now it is over.
anap wrote:I received a text from CreditFix yesterday saying that the IVA has successfully completed and we will receive our documents shortly. It's a relief now it is over.
Congratulations ! It shouldn't be long ... CF are good at fast closures.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
We received our completion certificates today. Final dividend was over 90% (Initial proposal was 15%). One thing that was confusing is that the supervisor's fees were over £7,500 but the original Chairman's Report stipulated that they were not to exceed £3,500. Not that it makes any difference to us!
anap wrote:We received our completion certificates today. Final dividend was over 90% (Initial proposal was 15%). One thing that was confusing is that the supervisor's fees were over £7,500 but the original Chairman's Report stipulated that they were not to exceed £3,500. Not that it makes any difference to us!
I recall, somewhere along the line, CreditFix tried to get fees increased across the board and asked creditors to agree a variation --- maybe a few were accepted.
But, hey, you got those certificates --- Congratulations !
Onward and Upward
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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
