What are the people on the forum going to learn from there experience of an IVA.
What lessons will you have learned and how do you see your future after completion of your IVA if you succeed.
Will any posters go back to getting credit but do it more responsibly second time around or will some never touch credit again.
It's a fascinating thing because an IVA has taught me the WORTH of Money and it is not a thing to treat LIGHTLY! as having No Money and Credit is No Fun at all when you are the responsible one who has racked up the Debts.
I am hoping that at the conclusion of mine IF!!! i get there i will treat money as responsibly as sometimes i wish i could turn the clock back and Kick myself.
I have 2 daughters and one of the lessons i have told them is NEVER DO WHAT YOUR DAD DID AND GET CREDIT CARDS AS YOU WILL END UP LIKE ME AT THE MOMENT NOW. Be responsible when you go to work and earn money and be sensible.
I only wish someone told me that when i was 18 but there you go at least i am on the path to a Debt Free Future.
I have learnt never to live beyond my means.. and that I don't need to try and keep up with the Joneses.. if they're that special they can slow down and go at my pace..
I will never have a credit card again.. I may have to have credit re loans etc.. in the future (cars etc..) but apart from that I will actually use money that belongs to me...
I sincerely hope that anyone who takes this path does not make the same mistakes again, but, as posted previously, I am seeing a small, but gradual and unmistakable, rise in the number of "2nd IVA" scenarios.
Credit is a good thing, in moderation, and it is a nice feeling to be "credit worthy" again, but people who complete an IVA are in such a fantastic position, i.e totally debt free (mortgages aside of course) that I do struggle to understand the desire to take any further form of credit, however small, once the process is completed. Only my opinion of course, but it would be interesting to see what other posters feel about this issue.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
The only credit I would consider in the future is a mortgage or a car loan. I'm lucky that I changed my car last month with some help from my mum so that won't be a worry for a long time, and our mortgage is in Dave's name, so again that would be in the future.
For me 2012 will mean a complete debt free life - other than I hope a mortgage to get back on the propoerty ladder, and may be a car!
If I don't have the cash I can't have it....having padi almost one of our salaries into the IVA each month for five years it will have proven we have the ability to live comfortably and still save - save what is that - I never said before an IVA, but I am totally tuned into doing so after the IVA completes!
Can't wait for 2012.....my first thing will be though is to have a damn good holiday somewhere extremely warm and in a comfortable bed ----camping for five years will have taken its toll!
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
I have learnt that i really didn't need half the stuff I used to think was essential. It was interesting this week I was at my sisters (who had to sell her house because of debt). My father died this week and she insisted on buying a new black skirt, jacket, shoes etc. even though she has a wardrobe of suitable clothes. I have a black skirt and white blouse and black shoes I know my dad would have wanted us to be there at his funeral and say good buy to him and not to be worried about what we are wearing. In the days before IVA I would have gone out and brought new clothes all on credit cards and thought anything about it.
Jan
Nothing you can buy feels as good as not being in debt.
Jan, I am sorry to hear about your father as well. Sad news.[:(]
As to the end of my IVA, I never want to be in this position again. I am learning to live within my means, and at the end of 5 years I should be well used to it. My disposable income will be put away to fund holidays, major purchases,etc.
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
kallis3 wrote:
Jan, I am sorry to hear about your father as well. Sad news.[:(]
As to the end of my IVA, I never want to be in this position again. I am learning to live within my means, and at the end of 5 years I should be well used to it. My disposable income will be put away to fund holidays, major purchases,etc.
Plus, at the end of your 5 years you're going to have a lot more income to fall back on Kalli [:D]
When I was young I was called a rugged individualist
When I was in my fifties I was considered eccentric
Here I am doing and saying the same things I did back then and now I'm labelled senile
Thank you everyone for your kind thoughts. My dad was 86 and had been in poor health for some time. So although I will miss him dreadfully I am pleased that he is now at peace.
Jan
Nothing you can buy feels as good as not being in debt.
My IVA is scheduled to finish in 2012 about a week before my 50th birthday, so for me, life begins at 50. I feel that I have been given a lifeline to sort myself out and from what I have learned/experienced whilt being in an IVA it will mean that apart from the mortgage, I will never take credit again.
jan - i am so sorry to hear about your dad - i am thinking about you and your family!
at the end of the iva i never want to touch another credit card - the mess i got into has scared me so much!
i hope to keep learnig along the way how to be more frugal and always stay that way!
i am learning to appreciate the simple things in life and the things that are really important that money cannot buy like our health and family and friends! hopefully i will come out of this a better person that i was pre iva!
