6 years

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helen c

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Post by helen c » Sun Aug 31, 2008 6:33 pm
[:)]Applied today to change my Virgin Mobile PAYG to a contract and passed the credit check[:D]. Paying just £10 per month for 300mins and 300Texts by DD.
Hope that's a good sign for my possible bank account upgrade next week.
Fingers and toes crossed[:)]
 
 

Skippy

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Post by Skippy » Sun Aug 31, 2008 6:35 pm
That's good news Helen, good luck with the bank account x
 
 

helen c

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Post by helen c » Sun Aug 31, 2008 7:04 pm
Thanks[:)]Appointment at 9.30am on the 6th so will update with a result after that[;)]
 
 

nongnaleon

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Post by nongnaleon » Sun Aug 31, 2008 11:01 pm
what is it feel like to finish the term of iva?(I've just only start 7 months ago and want to finish badly I want to be free.
Thank you
paul bloor
 
 

helen c

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Post by helen c » Mon Sep 01, 2008 6:00 am
To be honest it feels great to complete the six years. Having the debts was a real heavy burden, I'd hidden most of the debts from my partner and confessing to him was awful. Then during my IVA had was made redundant and our car "died" on us so things were not easy. I found Christmas a really hard time to get through.
The first 3 years felt like forever but for some reason the next two seemed to fly by.It was fab at the end of the five years to have that extra disposable income...I was paying almost £600 per month and my partner who also had to do an IVA as we had joint debts, was paying around £350 a month ....so having almost £1000 more to live on is amazing.
It is really important to check credit files once the IVA has completed and the six year passes as I thought things would update automatically but they did not...especially with Equifax...I have had to chase to get my defaults removed.
I am going to try to update to a "proper" bank account but have learnt my lesson totally...never want to go through any of those debt worries,stresses or repayments again, and will always keep my account in credit, just as I have done withmy basic account for the last six years.
Hang on in there...it does get easier with time as you get used to making the payments and having no credit available to you. You will find you handle money better by the end of it.
Good luck[:)]
 
 

kallis3

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Post by kallis3 » Mon Sep 01, 2008 7:35 am
Helen, it is good to hear from someone who has come out the other side. I think most of us have had negative thoughts at some point during our journey, but your post is so positive that it makes me think that I can do this.

I am so looking forward to making that last payment and having extra income.

I'm not really bothered about my credit files as I have no intention of ever having any ever again.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

angelrainbow

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Post by angelrainbow » Mon Sep 01, 2008 7:51 am
We are still allowed £500 of credit without having to inform IP..not that I intend to use it yet, but perhaps as the 5 years draws to a close I may use the Next Catalogue or whatever.

There is one pre pay credit card that has a credit builder loan...they loan you £50 on the card and you pay it back over 12 months at which point they inform the credit reference agencies that you have successfull completed a loan.

I guess little things like that will help us all..we certainly want a mortgage in the future...and not a rubbishy one either.We hope to get a decent rate at some point in the future.
Completion Certificate received September 2012.
 
 

moretolife

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Post by moretolife » Mon Sep 01, 2008 9:20 am
what a great thread to hear from those who have finished their IVAs...gives me such a boost and increased energy to get to the finishing line myself...36 to go.....
IVA completed 11th Dec 2009 due to a Full and Final with the fantastic help of Michael Peoples and
Mc Cambridge Duffy

Visit my blog...Journey from Debt to Life Post IVA
http://moretolife.blogs.iva.co.uk
 
 

andrewgoodman121

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Post by andrewgoodman121 » Mon Sep 01, 2008 7:30 pm
Hi,
This is the sort of Feedback we Need,
Well Done Helen for completing your IVA and getting yourself back on the Level.
These sort of Posts show exactly what can be Achieved after the Succesful Conclusion of an IVA and what lays ahead, it is Not All Doom and Gloom!
 
 

helen c

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Post by helen c » Sat Sep 06, 2008 11:56 am
Well had my appointment today with my bank to see if I could now, after I have completed my "six years", I could have a "proper" bank account.And I still don't know[:(]
I was told I was an L1 customer...lowest risk possible....all details were added to the computer....salary, rent,council tax etc....and it came back REFFERED[:(]
Have been told they will write to me...wondering if it's just their way of saying no without having to tell me face to face[?]
Credit files OK...on the electoral role...lived there 15 years, have reasonable salary....so who knows....
Will update with the result when I know!
 
 

Soulgrowth

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Post by Soulgrowth » Sat Sep 06, 2008 12:04 pm
And yet, probably like me, you now have more disposable income than you ever did when you were in debt! Crazy!

Debbie
Debbie
 
 

kallis3

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Post by kallis3 » Sat Sep 06, 2008 12:13 pm
Even me, who is not long into my journey has more disposable cash! I never had any at the beginning of the year, it was all on plastic!

I actually now still have cash in my purse at the end of the month - not a lot, but better than nothing!

Helen, I hope you get a positive reply from the bank.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

helen c

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Post by helen c » Sat Sep 06, 2008 1:06 pm
Yes Soulgrowth (Debbie) much more disposable income...£600...but I suppose I will just have to wait and see what happens!
 
 

Soulgrowth

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Post by Soulgrowth » Sat Sep 06, 2008 9:05 pm
There are some people that are catching onto the idea that ex BRs and IVAers are perhaps a good risk in terms of offering 'facilities' previously denied. I am thinking, for example,the pre-paid cards ... with my Cashplus card I have the benefits of a using a 'Mastercard' with my own credit on it! And the car companies, such as the lease company my brand new Astra is leased from. I have said for a while now that if I knew how to by shares I would buy some in the prepaid card industry as I believe this will be a future boom area. With the way things are going I am sure more financially based institutions will see the light, even if we have to pay a little more through the nose for the convenience of using them. I am hoping that this might occur in the future when I go to re-mortgage, whilst having a poor credit history I have no credit bills to pay.

I am still with my basic Nationwide account which I took out when I first started the journey of my IVA. I was thinking of looking into the possibilty of upgrading it recently but don't realy need to being able to function and work self-employed quite adequately through online banking, cash machines and Cashplus card.

Debbie
Debbie
 
 

helen c

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Post by helen c » Tue Sep 09, 2008 6:38 pm
[:)]Good news today....my bank are upgrading my basic account to a full current account. Don't know the full details as my local branch called me at home and then proceeded to tell my husband that my application to upgrade my account had been approved[:0]Was a little surprised that they told him, I don't mind but I can see why some people might!
Just waiting for all the details to come through...will update to let you know what they have allowed me.
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