Is five years a long time ?

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Foggy
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by Foggy » Sat Mar 25, 2017 9:34 pm
For those just thinking of starting, or those who have just started an IVA, if you are feeling a little daunted looking at 5 years, or so, in servitude to your IP .......

These things hapened 5 years ago -- and don't really seem that long ago:

Boris Johnson re-elected as London Mayor.
The Shard opened.
London Olympics.
Marine "A" was charged with murder.
GOV.UK was launched.
Jimmy Savile investigation started.
Jamed Bond Skyfall was released, as was The Hunger Games.
Robin Gibb, Max Bygraves, Larry Hagman and Whitney Houston died.
Francoise Hollande elected French President.
Malala Yousafzai was shot in Pakistan.

Five years does pass quickly if you do not dwell on it.
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Kazza
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by Kazza » Sat Mar 25, 2017 10:25 pm
This time 5 years ago we were just beginning to admit defeat........Seems so vivid like it was only yesterday and now look!! Wise words as always Foggy :D
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kallis3
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by kallis3 » Sun Mar 26, 2017 7:43 am
It does seem like a long time when you start out but it's no worse than taking out a loan. At least you can see a faint light at the end of the tunnel which gets brighter with each payment - suddenly you make that last payment and you realise how quickly it has gone.
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harrysmummy78
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by harrysmummy78 » Sun Mar 26, 2017 9:06 am
We are now in to the last year of our IVA and the time has flown by, I was in such a dark place Christmas 2012 I never thought we would get out of this mess and at the time our son was 3 years old and the guilt I felt because he was going to miss out on so much because of the decisions we had made but I was so wrong yes at times it has been a struggle but he never goes without Birthday's & Christmas it is all paid for and the best bit is I no longer worry about the Credit card bills coming through the door in Jan and that sinking feeling, Don't wish the time away during your IVA carry on with life embrace it I have and I have learned a lot from this. :D
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luluj
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by luluj » Sun Mar 26, 2017 4:05 pm
Its 10 years ago this July that I made that initial call for help ... our iva was accepted in the September of 2007 and we sold our first home as part of the agreement to pay off the secured loans and mortgage.
We had four years of renting - which had its ups and its downs ... we took each year of the iva as a 20% ... before we knew it we were over half way and on the homeward stretch.
Unfortunately in December 2009 my godmother passed away suddenly and unexpectedly our lives changed once again ... we completed our iva by using my inheritance to reach 100% of original sum plus IP fees. Renting had proved problematic with the letting agency employing a crook who stole our six months rent up front so working with Ryan we set about clearing out credit files and getting our completion certificate. With Ryans help and a high rated mortgage April 2011 saw us return to home ownership ... in 2013 when our iva was completely removed from our files after the 6 years Ryan swapped our mortgage to a high street rate.
10 years on ... I can honestly say the iva was the right thing to do ... it had its ups and downs but hey what doesn't !
If you are unsure then ask for our thoughts - we've all been in the same position at some stage and can help you answer your questions.
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moira717
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by moira717 » Sun Mar 26, 2017 7:44 pm
5 year loan is exactly as I see it. Would probably be paying off what I owe until I was 80 (will be if iva not accepted). Looked into iva 2 years ago (would have saved 20,000) but stupidly was too scared to tell my husband. Now I look at an iva as a lifeline. Look forward to living rather than surviving on credit and worried what will come in post each day.
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benjiboo1
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by benjiboo1 » Sun Mar 26, 2017 8:35 pm
This part of the waiting, & phone calls & letters is the worst part!! I stopped answering the phone & just shredded the letters. All of us on here have been where you are now & we all got through it & lived to tell our own personal tale. Stay strong & not long to go now for you. Think positive to get you through each day. The 5 years does pass quick
Can't believe mine is over with now. Best thing we ever did. I look forward to seeing your acceptance post.
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moira717
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by moira717 » Sun Mar 26, 2017 8:48 pm
Thank you for your support. My biggest worries are when phone calls are coming to my work place. Next 9 days will be long ones. However all this stress can't compare to what I have been through last 8 years. Is so good to see so many positive iva stories. I am so hoping iva will be accepted and with not too many moderations! Am so . Pleased I found this site, felt so alone and ashamed for so long. Read so many stories on here that I can relate to.
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benjiboo1
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by benjiboo1 » Sun Mar 26, 2017 9:04 pm
I know the feeling well moira. We thought it was only us who were in so much debt. I couldn't believe it when I found this forum & saw there were people just like us!!! It must be very upsetting & making you anxious about the work calls, luckily we didn't have any of that.... take a day at a time. Stay strong... you can get through it.
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footiemad
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by footiemad » Sun Mar 26, 2017 10:14 pm
Thinking back to 2011 I was in what seemed like a hopeless situation. Living for years in a cycle of credit card and loans all without the knowledge of my husband and family, panic whenever the phone rang and always watching for the postman. The day I finally told my husband about the debt I sat down and calculated everything which was owed and it amounted to £126,000. To cut a very long story short, that was the 1st day of the road to recovery. In 2016 our completion certificates were received and we now owe nothing, apart from our mortgage, and we have money in the bank. Five years at the start seemed like a lifetime but honestly it passed so quickly and for us it was the best thing we could have done. For all of you starting or thinking about starting an IVA, 5 years may seem like a daunting prospect but if you treat it as a 5 year bank loan, it will be over before you know it. There may be a few stumbling blocks along the way but with a good IP and communication these can usually be overcome.
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moira717
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by moira717 » Mon Mar 27, 2017 7:45 pm
Thank you. I was exactly the same. Hid my debts from family for last 10 yrs. Felt like I was living a lie. Used to sit in car waiting at son's school, working out which bill I could afford to pay, taking out money on credit cards to pay those I couldn't. Dreaded coming home from holidays, had to quickly grab post before my husband. Dreaded shopping each week as knew I would have to pay on credit and was just adding to debt. Don't think I have had proper nights sleep in 10 years. Kept thinking I would find a solution, never happened. Until now hopefully! Just feel so relieved it is out in open.
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Foggy
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by Foggy » Mon Mar 27, 2017 7:50 pm
I found the most alarming thing was when I wrote everything down and added it all up in black and white. The total owed was almost twice the figure I had convinced myself I owed !! Bit of a wake up call to say the least !
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moira717
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by moira717 » Mon Mar 27, 2017 8:08 pm
Yes foggy, I agree. I thought I owed around 20,000. Wasn't until November last year, I wrote it all down, it was 48,000 rising to 50,000 by the time I sought help. Think you need to see it in black and white to break the cycle of denial
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Allywally
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by Allywally » Mon Mar 27, 2017 9:11 pm
Everything I read in this thread is true of my journey, secret debt, worry about post arriving, shopping for food on credit cards with the fear they wouldn't be accepted - nightmare. Killing myself became a constant thought as the best thing to do, I took an overdose before IVA and told the crisis team I would seek help but still took another year. So happy with where I am now and my husband totally supported me the whole way. This forum was a blessing to me under my former I.D (robbieboy) in 2013. I still find it helpful and very informative. Thankyou to you all. :D
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Rickne
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by Rickne » Fri Mar 31, 2017 12:03 pm
Just about to start year 4 and I must say it has flown by.
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