Our IVA is now complete!

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Post by c-m-r » Thu Jun 17, 2010 4:33 pm
I wanted to write to the forum and hopefully offer some hope and support to those who are struggling with paying their IVA and the accompanying difficult issues.

In August 2006 my husband and I entered a joint IVA. A monthly payment was agreed and at the last minute, a creditor, HouseHold Bank demanded an additional amount of contribution. A decision had to be made in minutes and we found ourselves agreeing to pay an additional £75 a month, on top of a really substantial chunk on our so-called disposable income in order for there to be an agreement. We had a sizable package of debt and the IVA was, for us, the only way forward.

After nearly 4 years, surviving redundancy, unemployment, emergency car repairs and all the things that go wrong when you dont have ANY cash we are finally at the end and have a completion certificate safely in our filing cabinet. Something I thought was not possible and would never happen.

My husband was made redundant and for over 18 months was unemployed. At 55/56, a former accountant, it felt as if there was nowhere for him to go. Our supervisor was putting a huge amount of pressure on us, after having gone back to the creditors for yet another revision. I thought we were going to lose everything, including our house.

However, we were fortunate to be be able to negotiate with the supervisor that we could be given a relatively small windfall from a close relative on the condition it cleared our debts and thankfully our creditors accepted.

The windfall was a small amount but it was clear we were doing everything we could to maintain the IVA despite my husbands unemployment.

I hope this message can help someone see that it can end positively and it is possible to get your life back after mind numbing debit and financial problems.

I have learnt so much and know I will never find myself in debt again!


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Post by Pandy » Thu Jun 17, 2010 4:40 pm
Its lovely to read such a heartwarming post, many congratulations on surviving the IVA,
I hope I can get through everything life is going to throw at us for the next 4 years and 9 months.
My hubby is the same as yours although older, he was made redundant at 60 then had a heart attack, no-one wants a 60+ employee with a dodgy heart so we have had to accept there is only my income around, we will survive this somehow and when I read posts like yours it renews my strength that if others can get through it we can.
If life is what you make it, I must have been in a strange mood when I made mine


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Post by Skippy » Thu Jun 17, 2010 4:45 pm
Congratulations for completing your IVA and thank you for sharing your story with the forum.

Good luck for the future x

Michael Peoples

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Post by Michael Peoples » Thu Jun 17, 2010 4:48 pm
It is an uplifting post and good to see your creditors accepting what was clearly your best offer. Well done to your supervisor for fighting your case and while he/she may have put pressure on, they would have had no other option as they have to make their decisions based on the terms of the IVA.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com


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Post by Shining » Thu Jun 17, 2010 7:19 pm
A very positive post and well done you for completing your IVA xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.


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Post by Julie » Thu Jun 17, 2010 7:26 pm
Congratulations on completing the IVA..seems you had some very tough times, but well done for seeing it through.

Good luck in your future and please stick around..the forum needs posters like you xx


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Post by kallis3 » Mon Jun 21, 2010 8:19 am
Excellent post, and the best of luck from me as well.
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.


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Post by flow13 » Mon Jun 21, 2010 11:29 am
Congratulations on completion. x
Its now time to start living and to make some some wonderful memories!
Read my blog at http://flow13.blogs.iva.co.uk/ 'Aiming for the finish line'


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Post by marie » Mon Jun 21, 2010 5:14 pm
Brilliant news im so happy for you

24 more payments left for me roll on 2012 !
36 down 24 to gooooooo

Tina Shortland

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Post by Tina Shortland » Mon Jun 21, 2010 6:03 pm
Fantastic news - what an inspiration for everyone stil in theirs and those who are just thinking about venturing into one.

Best wishes for your new debt free life.
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.

If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com

If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
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