bungee1
I cannot speak from personal experience, as I come from the other side (some would say the dark side!!!), but I have seen many clients successfully finish IVA's over the last few years and move forward quite successfully.
A lot of them keep in touch, and I know that after about three months you can start to borrow money again (not advisable) but a credit card with a modest credit limit is not a bad idea so long as it is used sensibly and only for emergencies.
I am afraid that forums like this tend to attract people in need of advice when things go wrong, and there is little feedback from people who are happy with their IVAs. I suspect that this is because the majority of people manage to box away the fact that they are in an IVA when it is running properly, and most of my clients tell me that the first year is always the hardest, but things tend to get easier as the months roll away.
If you are wary about the procedure, choose your IP firm carefully. Make sure you go to one where you will have direct contact with the IP and senior members of their staff, or a dedicated case manager you trust. Try and visit the IP's offices and meet them, so that you can be sure that they are going to give you the very best service.
And do remember not to take on additional commitments that you know you will not be able to afford, in the event that creditors look for more money. You are just then kidding yourself.
The very best of luck with your application, and let us know how you get on.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at:
http://melaniegiles.blogs.iva.co.uk
