Hi all, I’ve had a good read through the forums and I’m not feeling more confident the Iva is the best option. I’m ashamed to admit that myself and my husband have already been through a debt management process in our early 20s, I got debt free, but then stupidly fell back into debt again so easy. I’m now 40. The debt is around the £60,000 mark over 5 creditors. I’ve spoken with a lovely guy who has reassured me what my payment will be which makes me feel so much better. My home and car are protected due to being mortgaged and financed. I just know this time we WILL learn from our mistakes, and hopefully in the next 6-7 years we can be debt free. Thanks for listening Dena x
Who have you spoken to? You need to speak to a few advisers before making a decision.
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
Hi Dena. You won't be the first that has had to have another go at a debt solution ! Hopefully, this time, the new habits will stick.
Be aware that the payments are not finally decided until the creditors meeting -- they can still be tweaked in the meantime. Also do be 100% certain that you understand the equity release provisions ( some firms interpret them differently than others) and also the implications of the IVA on any refinancing of your car, if needed ---- depending on the type of finance you now use: You will not be able to finance any balloon payment, or purchase option, nor start a new finance deal when this one ends, if still in the IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thank you for your reply. I’ve hardly got any equity in the house at the minute but I’ll definitely take your advice on board, thank you. Also, thankfully I’m not on a pcp agreement for my car so at the end of the finance period, which is another 4 years the car will be mine. This is another lesson I’m learning...stop having finance! Ha.
I would add a query through the forum and you will be contacted by one of the team. I know Keith has been responding to peoples queries this week so far and he has a lot of knowledge and can offer you guidance and support.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
A lot of companies post on here and you can always see what people say about companies.
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
You have to be careful with BR - equity in your house may go up.
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
Dena x
