www.iva.co.uk

So, here we are 36 Months down the road, and the 3rd review is taking place. Unlike the 1st and second, we are completely chilled about this one - we know what its about now and no longer fear it. I used to be quite critical about our IP, but in fact, they,ve turned out to be really good. Sure, income is up but costs up too, so I am not expecting any increase. We do still struggle, but I know that in 24 payments time, we will be SO much better off financially. I know its hard when you start an IVA, I have been there, and I remember reading posts like this one thinking "lucky sod" - 3 years seems a long way off when you first start your IVA let alone 5, but your time WILL come. The months go quicker than you think. This time next year and we will be on the home straight.....starting to get excited now.

Well done Andy. Have you any plans what to spend your first free payment on after the IVA is over?

Hi Michael. Our first and subsequent free payments will be going straight into a savings account - our new form of credit so that we can buy things as and when required with real money. But maybe a small bit will go on something alcoholic - but were a way off that yet!

And don't forget a nice holiday - somewhere where the sea is hot and the alchohol cold!

Time does fly within an IVA, 31 months for me this week coming. x

That's my first goal - exotic holiday with no worries about money!

I'm actually finding that my IVA is starting to drag now. Hopefully, once Christmas is over and we're heading towards the 3rd review, it will start to feel as though we're on the downhill stretch.

Nearly halfway for you Jan!

Well, I have stopped it dragging by planning (yes, I have been rumbled) a Holiday. Our IVA will complete in July 2012. I hope to take a week in the UK in Aug/Sept and then in 2013, having saved for it since the end of the IVA, were gonna hit the Carribean - the home of Rum (thanks on both counts Melanie!) and it is then that will will properly celebrate our solvency knowing that when we get home, we wont have to start paying it off like the majority of our credit card laden compatriats! Kalis - our third year dragged too - but once you get to the 3 year marker, the long slow climb suddently feels like its starting to go down hill (metaphorically speaking) and its actually quite exciting - this time next year I will be starting my last 12 Months, my last 12 payments before freedom.....I can actually already taste it...

The Caribbean sounds fantastic Andy! We're planning on the Maldives as we've been before (on the plastic of course!) and loved just lazing around doing nothing.

I know that ours will probably be extended by a further 12 months because of the equity release. I suppose that's what makes it seem as though it's dragging.

Have to say Jan, i'm feeling the same.

It went pretty quick to start with.. I guess i now can't wait to be rid of it now i'm roughly 75% of the way through..

I never did have any patience

It does drag, theres no doubt.
And like I said yesterday, the 12months extension, although great financially (eventually), is ANOTHER 12 months one is still in an IVA.

At least I know that once the 60 months is completed I will have a maximum of 12 months left.

I just want it over and done with now.

I am on my last year and have my first annual review!!
Never done one before.. Is that normal?

I am paying £500 a month and struggling to keep up.
I'm too scared to fill this thing out in case they make me bankrupt if I say I can't pay it any more.
My Mrs isn't working now. I just want to pay my last 11 payments and draw the line under it.

You should have had a review every year.

You will have to fill this in. Make sure you put down everything you pay out. They are unlikely to make you bankrupt after this time and if your circumstances haven't altered then your payments should stay the same.

Which company are you with?

It was Debtmatter and now Harringtons.
My income is lower.