www.iva.co.uk

in june 2005 with a 2 month old baby and 2 toddlers and a teenager, we suddenly realised we were seriously broke . £120,000 pounds worth of money thats not ours and we owe it over about 6 loans and 10 credit cards! looked around , anything to show for it ..... not a thing, how disgraceful is that ??? anyway realised this can not conitnue. didnt know about this site then and got shafted for another £1000 (on a credit card) going thru a company who put us in touch with an iva ccompany ! synergy anyway by nov 2005 iva was set up . £ 539 a month. didnt have payment breaks, never missed. end of yr 5 no chance of remortgage, therefore agreed to continue 12 months at £539. iva completed nov 2011. our payments remained at 539 through out . im still ashamed so very ashamed how to recklessly spend like that.
along the way we had some bad times, thought about letting it fail as couldnt afford shopping,something always went wrong with car, always seemed to have extra bill . but we decided , continue onwards. 3 months towards end we agaain had another wobble , again car bill, needed new clutch. clear debt took over synergy in our last year and David Mond and his team wonderul, David returned my many emails , reassuring me. we never told anyone of our iva, too ashamed i guess. i used to and actually still go shopping in my mums freezer and cupboards, im sure she buys for me to empty it.
any way completed nov , off insolvency register, no defaults, no public information record on credit reference agencies. squeaky clean.
So for everyone starting out or still ploughing through, yes its tough at times but never give up. our marriage is stronger than ever despite the few little tiffs we have had along the way , usually about money or lack of it , but tiffs few and far between.
my husband spoke to financial advisor last week, who turned things round and made it positive . he said there are so many ppl in the debt situation and dont do anything . He said well done , you got in a mess and you got out of it , paid off what was agreed and stuck at it. there are so many people who would love to be in your position now . A mortgage of £77k and no other debts and both earning a reasonable salary ( for nhs !!).
just wanted you all to know, we must be up there top of the list with some really horrendous debts, if we can get thru it , anyone can. honesty all the way. so good luck to you all , keep strong and never give up .
hugs to each and everyone of you.

thats my war and peace epic over with !

Inspirational post Molly well done.[:)]

Great post Molly, and huge congratulations. We were very much the same as yourself, but with slightly less debt (not bragging trust me, still very much ashamed, just like yourself) of £97K. We also had to extend and had the tough times too. We completed in July last year, and just one bit of tidying up of credit files still ongoing with husbands file. Mine are fine.

Just wanted to echo your post as encouragement to all just starting out and to those already on the journey.

One thing about the ashamed bit,you,ve done your bit to put right your debt as best possible with disposable income,over 5 or 6 years,through the legal insolvency industry,On the other hand the Banks have been shawed up by you tax payers for there mistakes.And if they were ashamed they would,nt have been accepting golden handshake pensions and massive bonuses.You can hold your head up and be proud of yourselves.

Great posts.

I was ashamed at the time we took out the IVA but I hold my head up now knowing that I'm doing my best to pay back as much as I can.

Fantastic post Molly and thank you for sharing it with us, it's especially nice to hear that it hasn't always been plain sailing but you have still got there in the end, 5 or 6 years is such a long time to expect nothing to ever go wrong, we are doing ok so far but worry about what may be around the corner, however reading posts like yours make me worry a little less as I realise there will be options should the sh** hit the fan!