In August I made the decision that I needed to sort my debts out as they were getting out of control. I owed £25000 over various credit cards, loans and overdrafts. Although not a huge amount as a single working parent it was just too much for me to try and sort out myself.
My IP was brilliant, instead of a 5 year IVA I had a lump sum IVA. They sorted it out that I had 6 months to raise the money before they would pay the dividends to the creditors.
The last 6 months haven't been easy trying to save £4500 (£3000 for creditors and £1500 for the IP), but it was easier than still being in debt. Yesterday I transferred then final money to my IP 2 weeks before my 6 months were up.
Now all I have to do is wait on my completion certificate coming out. I know there is another 5 and a half years before my IVA drops off my credit file but in that time I plan to save hard, the last 6 months have shown me what I can do and how to be sensible with money.
I just want to say to anyone else thinking about applying for an IVA, it is very scary and a big decision, but if you weigh up your options and it is right for you, it can definitely change your life for the better. My best tip would be find an IP who you are comfortable and happy with, my were brilliant, always answering my phonecalls and emails and any stupid questions I had.
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