Posted: Sun Oct 20, 2013 9:59 pm
Just wanted to say hello and share our story. We have been lurking on this forum for around 2 years now and like so many before us I so wish we had found you all sooner rather than panicking and going with the first company we found. You are all so supportive, no judgements made and a wealth of information so you all deserve a huge pat on the back. We have been in an IVA now since mid 2010, we hold our hands up and yes we lived above our means for a long time and the manageable debt grew into an unmanageable debt of approx 57k. We both work and I have had a few promotions over the last couple of years, our payments started off at £900 a month and have risen at every review and we now pay a whopping £1600 a month, we are on track to pay back 100p in the pound and are pleased with ourselves, our lives will certainly change at the end of the IVA. Our rough calculations show that we should finish early and this thought is consuming me at the moment and I can't think about anything else. We are with simple debt solutions who are not the best in providing information but we haven't had any real issues with them. We have asked for a full breakdown of everything paid to date, fees and ppi reclaimed. (Approx 14k) they have agreed that we are on track to finish early and have talked about the potential 8% interest that they will try to waiver. It's a hard slog but it would have been even worse had we not done this, we've managed to see our eldest child through uni, save for Christmas and make sacrifices but the future is looking oh so rosy. Basically I just wanted to say thank you to you all as you have helped so much without even knowing it. We are well seasoned IVA'ers now and can confirm that it's the best decision that we ever made.