Hi everyone, well i have just entered into the IVA world. The meeting with the creditors is on 6th oct, so fingers crossed for that. Could someone please tell me, i understand that i have to pay 50 percent of my overtime and any windfalls i may recieve over the year . However at the yearly review if i have managed to save some money, can they take all that from me, or am i ok to try to save as long as i have declared the extra money earn.
I have gone with Debt Direct and i must say theyhave been more than helpfull, and also got things moving pretty quickly.
Hi Lisa, welcome to the world of peace of mind and a hopefully debt free light at the end of the tunnel. I hope that the meeting on the 6th Oct has a good outcome and you can then start to live once again. I think i am right in saying you are correct about any overtime and windfalls but this will be outlined in your agreement, i think i am also correct in saying that anything over £500 savings if you manage to save that much would then have to be considered. One of the experts will be along shortly im sure to clarify your questions.
Good luck and best wishes, it was the best thing that i ever did and although difficult at times, the peace of mind it gives you is worth more than money can buy.
Take care and be safe, fingers crossed.
Om shanti, namesté, good luck to all who are embarking on the IVA journey, it isn't always an easy one but the outcome is the best.
IVA COMPLETED August 2012, received Completion certificate 18.4.13.
Orchid5, thanks for replying. i have to say i'm absolutley terrified, just keeping everything crossed. I understand what you mean though, thoe thought of this mess getting sorted is just amazing!!!! thanks for your help
Orchid5, thanks for replying. i have to say i'm absolutley terrified, just keeping everything crossed. I understand what you mean though,the thought of this mess getting sorted is just amazing!!!! thanks for your help.
I echo Orchid's sentiments, good luck for the journey.... you will have to hand over the 50%, (precise details should be in your agreement) - not sure about their being a limit to what you can save though.... if your creditors have agreed a budget and you manage to save more than 500 within it, it should be yours...... there will be times over the 5 years when a contingency is essential and if you can, always worth having as much as you can set asside. Try to set up a saving account - it'll be hard, but even the odd small amount adds up each month and you'll be glad you did when the unexpected arises.
Good luck for the 6th.... keeping everything crossed for you....let us know how it goes...
If this all goes well i think i would hand over the 50 percent each month and i know where i am up to! can't belive how quickly this has all come together in a matter of a couple of weeks! i have never defaulted on any of the debts, but have ended up working 7 days a week and taken on a part time job in the evenings to help, sometimes i go for weeks and weeks without a day off and i just can't do it anymore. Debt direct have been wonderfull so hats off to them!! yes will keep everything crossed for the 6th. Not going to attend i think i would be useless and sit there like a blubbering wreck!!!
lis
x
Good Luck Lis, we are with debt free direct and they were pretty quick with us.You may feel a bit panicky on the day of the meeting but hey what a feeling when its agreed. Take care and good luck x
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
Hello, Vicki,Chegs and Kallis3 and thnks for the welcome, so glad i found this site. Dont feel so alone now with it all. yes will keep posting. Am not online at home so will just be able to come on at weekends and lunch hour to catch up.
We're always here for support and advice, and a bit of a laugh at times as well![:D][:D]
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
