Posted: Sat Aug 18, 2007 10:47 pm
Hi Everyone
My IVA was approved on the 22nd May which is when I found this forum! I wish I'd found it much earlier, going into the IVA I had no-one I could talk to and seriously stressed doesn't come close! but anyway after reading the excellent advise on here for 3 months I thought it was time to share my story [:)]
My iva was approved at 27p in the £ on a debt of 45k the only crediter that voted no was morgan stanley but as the lowest value it made no difference. The only modifications were that the Ip fees were reduced and the minimum contribution was 27p and the iva could be extended to 6 years to guarantee this and the payment could not be reduced within 2 years.
I was advised to actually go br rather than an iva as I have no assets, i still live at home mainly due to never being able to afford to move out! Entering into an iva was embarrassing and scary enough! going br was far too scary at the time!
3 months in and things are tight but I can actually afford to buy food which is a bonus! and stress levels have dropped till the phone rings!
The only creditor still calling is Natwest, who didn't vote and seem to like to call at work [:(] I can't talk to them at work in front of my collegues and can only tell them to call at home. I've told them numerous times about the iva and they go away for a couple of weeks then start again.
5 years seems like a prison term and far longer than my imagination can stretch! which is probably how I ended up here, but the thought of being free of debt for the first time in 16 yrs gives me hope. getting a credit card at 18 is the biggest mistake i ever made [xx(]
Getting into debt is incredibly easy, getting out is a nightmare but there's a small chink of light at the end of a very long tunnel.
My IVA was approved on the 22nd May which is when I found this forum! I wish I'd found it much earlier, going into the IVA I had no-one I could talk to and seriously stressed doesn't come close! but anyway after reading the excellent advise on here for 3 months I thought it was time to share my story [:)]
My iva was approved at 27p in the £ on a debt of 45k the only crediter that voted no was morgan stanley but as the lowest value it made no difference. The only modifications were that the Ip fees were reduced and the minimum contribution was 27p and the iva could be extended to 6 years to guarantee this and the payment could not be reduced within 2 years.
I was advised to actually go br rather than an iva as I have no assets, i still live at home mainly due to never being able to afford to move out! Entering into an iva was embarrassing and scary enough! going br was far too scary at the time!
3 months in and things are tight but I can actually afford to buy food which is a bonus! and stress levels have dropped till the phone rings!
The only creditor still calling is Natwest, who didn't vote and seem to like to call at work [:(] I can't talk to them at work in front of my collegues and can only tell them to call at home. I've told them numerous times about the iva and they go away for a couple of weeks then start again.
5 years seems like a prison term and far longer than my imagination can stretch! which is probably how I ended up here, but the thought of being free of debt for the first time in 16 yrs gives me hope. getting a credit card at 18 is the biggest mistake i ever made [xx(]
Getting into debt is incredibly easy, getting out is a nightmare but there's a small chink of light at the end of a very long tunnel.