www.iva.co.uk

I'm new to this forum - and I've just signed all my papers ready to send back to DFD and hopefully start my IVA - the question that keeps popping into my mind now is 'Am i doing the right thing?'!! I know its by best option, or only option but its just hitting me now that for 6 years I'm stuck with this slightly dull cloud over my head! Anyone else feel like this? Can anyone share any joyful stories - how have you coped during your IVA? is it the best thing you've ever done??

L

hi lollyollie and welcome to the forum,4 years ago to the month,i was in a dreadful debt situation.£78000 to be precise and i was sick with worry,after seeking advice found there was away out,i took the iva route,and got my life back when it was accepted,you get used to living within your means,based on your salary, and income and expenditure,the iva lifted a big weight off my shoulders.i completed my iva a few months ago with a full and final offer and am now debt free.if someone told me i was going to be debt free then within 4 years i would have laughed at them.my iva got me out of a big hole that seemed never ending.good luck with your iva.

Lollyollie, I'm with you on this one, eagerly waiting the proposal to come through for us to sign and return, I totally understand what you are saying when you wonder if you are doing the right thing because I think that very thought the whole time. Ive thought desperately hoping to come up with some other way, we could even manage to continue paying our minimum payments which amount to £,150 each month, but with nothing left for living and with no end in sight. So, for us it seems its not a case of are we doing the 'right' thing, its more we are doing the 'only' thing that can get us out of this never ending hole we find ourselves trapped in. I just pray that something good turns up in the meantime and we can make some sort of final offer (like the lotto or something ) Its only 5-6 years, ask yourself, where do you expect to be financialy in 5 years if you dont do it??

Getting an IVA accepted is the best way to get out from under the black cloud.

Its a useful tool and provoded it is the best option for you,you will find that the time passes quickly and at the end of it not only will you be debt free,you will also have become much better at managing money and budgeting(you will get good at both during the iva).

Without an IVA many of the posters on here would have had no option but to go BR and potentially lose their homes.

Good luck.

Paul

Hubby was with DFD and all went well, although communication was rather poor. IVA ran very smoothly and without any hic-ups and to be fair, DFD did very well getting it through with low monthly payments (28p/£) was being offered.

As others have said, it can be tough at times but also very rewarding. I still live to a pretty tight budget and save the rest (IVA completed now)
For us, looking back it was the very best sollution and one that we deffinitely dont regret.

Good luck xxx

Our IVA's are the best thing we have done in years. No worries about paying the bills, or the phone ringing with a bullying creditor on the end of it.

We budget well and live within our means for the first time in years.

Can't recommend it highly enough.

Hi lollyollie welcome to the forum and to what could be one of the best decisions that you have made. I entered into my IVA 2 years ago and the relief that i felt knowing that my household bills were paid etc was a massive positive for me. The cold snap that we had earlier on this year didn't worry me, my heating bills were accounted for etc. It is daunting to think that you are signing up for 5/6 years and that may seem a long time but it will fly by and at the end of it you will be debt free. Take care and if you feel comfortably with what you are doing then go for it, trust your instincts they are generally correct.

Hi
I have been in my IVA for 6 months is just a relief to have something sorted out. I knew I could not go on like that. I thought I would win the lottery or something like that but of course in reality that does not happen. Also my husband did not know the extent of my debt and although it was horrible when I told him we got though it. It is hard having to live to a strict budget but total neccessary.
I feel I have piece of mind at last.

Linda

I think most people have these feelings when they first start an IVA. I know we did. We are with DFD, and I have to say starting an IVA was the best decision we ever made. ANd the past 3 years have gone so quick. I can't believe that we only have 2 Christmases and we are IVA free.

Thanks guys!! It really is my only option and I think i ready for it now. And like you sll sat 5 years will pass quite quick!!! I'm looking forward to budgetting actually and learning to handle my money better!!!

Still waiting to hear back about the meeting date so fingers crossed it all goes through ok!!!

L

Hi lollyollie - welcome to the forum [:)]

When your IVA gets accepted, you'll be on the road to being debt free and yes it won't always be easy, but it has to better than living in debt for ever and a day.

You'll get support and advice from the forum and if you're anything like me, you'll find it will be of enormous help. Not only for debt problems!

Hope you get the meeting date soon and look forward to seing your posts on the forum xx

Hi there, I can remember the 'should I? shouldn't I'? or am I doing the right thing feeling, in my case I did the right thing and have never regretted it.

It gives me security to know it's my money I'm spending and always have a few quid left at the end of the month in credit not debit.

Personally it's for me and I'm not going to tell you it's all easy sailing as there are times when I think if only etc., but I know I'm readjusting my way of life and thinking for a far better future when I finish my IVA.

All the best and do keep posting, we all support each other.

Best thing I did. Even though I have literally just started on this journey, the relief is unexplainable! I spent every single waking moment thinking about how I was going to pay the bills. I was irritable with the kids,(although them both being teenagers doesn't help), and had a very short fuse!

I have tried to look at it as a kind of consolidation loan over 5 years. Without it, there was no way on this planet that I would ever have paid the amount I owed back (around £48K), no matter how much I kidded myself. Indeed, I think it would have increased significantly.

Last month was the first time in a long time I did the wifes birthday on 'MY' money and not the flexible friend. A lot more thought went into it as well!

Good luck!

lollyollie good luck.

So many posts on here echo my own feelings and thoughts it's unreal.

Good luck to us all.

hi lollyollie. it's good we all take the plunge and face up to our dept problems, I did the same in july this year, sorry if I sound like a damp squid but it's not a case of when your IVA is accepted, more of IF,
not everyone is lucky enough if one of your creditors wants back every single penny you owe them. when you talk to DFD listen very carefully to what they say and have a pen and paper to hand to write down instructions, they will give you lots of info and if you miss something, then your left hanging on for weeks waiting for them to get in touch, when you finally give up and phone them they say where have you been, we were waiting for YOUR call. they really do have to improve their communication and beware of any standard computer generated letters they send you, not all the info is directly related to your individual case, and DONT sign the direct debit mandate, like a fool I did and they took my money with no accepted proposal yet, now got creditors asking for this months token payment and I have to wait until DFD return it to my bank. sorry if this post is a worry to you, I'm hope in your case everything runs smooth, but with every good news storey their are always some which dont run to plan, good luck.