www.iva.co.uk

Hello All,

I just wanted to let you know that as of 30 minutes ago, I had notification that my IVA had been approved. I am so relieved!!! Melaine Giles and her team have been magnificent (special thanks to Hywel who has had to persevere with my constant questioninng of the system due to my lack of understanding - he has the patience of a Saint!)

I have had to go through a 2 week period of postponement whilst a couple of issues were sorted but it has finally come out positively the other end - many thanks to Melanie.

I think for the first time in 5 years I will be able to sleep and look forward to a brighter future. I know there is still hard work to be faced but at least knowing that things are under control and I don't have to juggle creditors is a lovely feeling.

More special thanks to my lovely hubby who has stood by me when most would have run a mile. I think wanting to prove to him that I am not a 'waste of space' is the most important thing now. He was devastated at the news of my situation and genuinely had no idea. How devious must I have become to hide such a huge problem? He was completely gutted, not just at the financial implications but also because I made a complete mockery of the trust he had in me. I am so disappointed in myself for doing this and I should have owned-up many years ago when the problem would have been much more easily solvable. The largest part of my debt was incurred through taking money from one card to pay another. I kept fooling myself that I could sort it out and that the problem was not really that bad.

The day I made the phone call to the IVA Bureau, I had no idea of the roller-coaster ride that laid ahead. Tina was fantastic and her understanding nature really does reassure you that you are not alone and are not a freak - at this point, an understanding nature is like a great big hug!

Getting all the information together and finally reaching the creditors meeting took a few months and at one or two points, it seemed that the pressure was worse than juggling with creditors. However, my advice to anyone going through this at the moment is to stick with it and let the professionals do their job! The period leading up to the meeting (after your date is confirmed) is the worst period of all (and especially when you have a further 2 week postponement on top) but I am so relieved that it is now confirmed and sorted.

I have just phoned hubby to tell him the good news (he is now hoping that he will get his 'old wife' back. The one who can smile again without a hundred worries in the back of her mind). Even after the months and months of trying to reassure him that I will NEVER do this again, he still asked me to promise him that the IVA covers everything that I owe. Of course it does (otherwise the process is completely pointless) but the fact that he had to ask just proves how the trust has completely gone. I need to rebuild on this now and prove that I can be a trustworthy person again and secrets are not a part of my nature.

Finally, the one thing I can promise everyone (especially myself) is that I will NEVER have another credit card or credit account ever again. I have gotten used to budgeting and I like knowing that everything that I buy is now paid for in cash!

Good luck to everyone out there whether you are just starting on the IVA trail or just about to complete one. It is lovely having a forum of understanding friends to pour my heart out to.

Kind Regards
Paula

Congratulations Paula, brilliant news. Good luck and keep posting. X

Congratulations Paula and also to Melanie and her team.

Well done Paula. You can have a nice, stress free Christmas now.

Hi Paula
Congratulations on having your IVA approved - such a weight is lifted off your shoulders and you can actually sleep at night!

It's funny when you read through lots of these posts, you feel so alone when you are going through this, but you find this site and realise that there are so many people that are in the same boat, and actually realise what you are going through. For me, it was like a light being switched on, and I was so happy to learn that there is so much support out there.

It can be a hard thing to admit there is a problem, and like many of us it takes a long time to face up to reality. Like you, if I had done something a lot earlier, I wouldn't be in an IVA now! But hindsight is a wonderful thing, and to be honest, having an IVA has taught me some valuable lessons about life, and how to deal with whatever it throws at you.

An IVA isn't always easy, but 5 years will go by before you know it.

Well done, and good luck with yours. Please keep posting to let us know how you get on.
xx

Fantastic and well done. Now you can start putting all that stress behind you and look forward to a new life.

Nice Christmas pressie, eh?

It is great news Paula, and thank you for your kind comments about me and the team. But what a magnificent tribute to your husband, and well done to you for writing this post - I hope you show him what you have written, as I am sure that he thinks the same of you.

Thanks to everyone for your kind words. Not even the constant rain can dampen my spirits today!

Melanie - hubby has just read the post and it did bring a little tear! I think he is starting to believe that I really mean it this time.

XXX

Congratulations Paula

xx

Congratulations Paula, and good luck for the future to you and hubby xxx

congratulation Paula and its very well written, i am waiting for my one in few days.

Hello Again All,

I am just in the process of putting together a 'Full & Final Offer' on my IVA and I found this post that I wrote 3 years and 3 months ago on the day my IVA was approved. I really can't believe how the time has flown by and how you just get used to living by a strict budget and how being part of an IVA just becomes a part of your life.

Reading my original post of 8th December brought back memories of how much of a sad time that me and hubby were going through and how happy I was to have established a route out of my debt and wondering why he didn't feel as happy as I was. Clearly he was still reeling from the whole admission of guilt and having his life completely ripped apart. He was obviously happy at the fact that there was a solution but because he wasn't aware of the years and months of juggling and deceit that I had been through, it was just a gigantic shock to him.

Anyhow, whilst I don't think he will ever truly forgive me for hiding the enormity of the problem, we have moved on and he now knows that I can budget well with the small amount of cash I have for grocery shopping and I haven't looked at a catalogue or luxury item in years (I think there is a part of me that also wants to punish myself).

However, with the added complications of the Credit Crunch and recession, this has taken its toll on both of our lives and my job at the local Council is constantly under threat because of their needs to make huge budget cuts and hubby's business is very quiet because people just don't have the money to spend. We are just managing to make ends meet but my IVA payments certainly don't help (which resurrects his resentment at me too - but I really don't blame him for this).

Therefore, my lovely father has offered to help us out because he can see that we are both trying hard and whilst he completely does not understand how I got into this position, he has been good enough to offer to help so, at the point that one or both of our jobs is lost, we have as little devastation to deal with as possible. We owe £7000 from the balance of our original £21,000 (60 x £350) and my father has offered £6500 for the purposes of completing the IVA early. I have read that it takes approximately 2-3 months for a Variation meeting to be arranged so by that time, I will have also made a further £700-£1050 in payments, taking my F&F offer over the original dividend promised. I do have an equity clause at year 4.5 but at the moment we have £111,000 outstanding on our mortgage/loan and our home has been valued at £125-£130,000. With the 85% Loan to Value calculation, we don't have any equity to release so I am hoping that my offer will be accepted. I have spoken with the IVA Company and they are content to put it forward.

So, for those who are interested, I will keep you posted on developments and I hope you too are finding the journey as therapeutic as I am. It was quite nice to reflect on these earlier comments and to see that such progress has been made. It is also easy to forget how many nice people post onto this forum and can make you feel part of a community as opposed to a freak of nature.

Kind Regards All
Paula xx

Hi

I hope it all goes well. I will keep my finger crossed for you.

Take care and have a good weekend.

x

I am sure you will be fine Paula and very best of luck.

Sounds like a good offer and glad you and hubby are still together!!!

Fingers crossed here.

Paul