We have found the IVA to be realy fair and flexible

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Post by JoeB » Fri Sep 10, 2010 8:32 am
Hi not a question - but I promised when I was actively posting on the site some three years ago that i would share our experience in the hope that it might help someone.
Just received our certificate of completion so in terms of IVA its over. What would I say

Well at the beginning keep a cool head its really hard I struggled but thankfully my wife was better - dont agree a figure that you cant afford - no point having an IVA for 6 months and then going bankrupt! Saying that it is hard as soon as you stop the payments the phone never stops and the horrible letters are endless - but keep your head remember nothing really nasty can happen quickly! so take your time and get a good firm We went with Grant Thornton who have been superb throughout and obviously the firms on this site are excellent - its a big decision as they will be with you for the remaining 5 or 6 years so you have to have faith in them. Stop thinking about the dividend let the IP worry about that and just work out what you can afford - and do this very carefully!

We have found the IVA to be realy fair and flexible - we have ended ours earlier though a F&F settlment. My wife has been diagnosed with cancer and thankfully our family have been able to help with sum of money and the creditors have accepted a sum even though the dividend was well below what had originally agreed. To me this represents the best of the IVA process that if all parties see you acting in good faith then they will help because ultimately its in nobodys interest to see it fail.

I can say hearing of my wifes diagnosis is worse than an IVA! - so keep your prespective remember what is important and above all work together as a family dont let it rip your family apart! -

I hope this helps and thank all the contibuters to the site experts such as Mel as I found them invaluable in those dark days three years ago.

Good luck and best wishes to all


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Post by size5 » Fri Sep 10, 2010 9:43 am
What a great post!!

I am glad that things worked out for you regarding the IVA, and as you say, it is important to remember that the point of them is to reach a fair deal for all concerned. Going forward, I wish your wife the speediest of recoveries.

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Post by Tina Shortland » Fri Sep 10, 2010 11:09 am
Hi A N Other - I agree with size5 - a great post from an IVA experience perspective and will definitely give a lot of people both in IVAs and considering them more confidence in the process. Your advice is spot on.

It is great for you both your IVA is over but obviously the cause is not and I wish you all especially your wife every good wish and blessing with the most important battle of all.

The IVA may be over but our support is not so do keep us in mind if you need to and let us know how everything goes.

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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Post by luluj » Fri Sep 10, 2010 3:14 pm
Thanks for your post - I totally agree with your comments around life in an IVA.

I sincerely hope your wife is well again soon and you can enjoy life out of an IVA - family must come first at all times x
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Post by kallis3 » Fri Sep 10, 2010 3:26 pm
I'm glad things worked out ok as well. I hope I will be able to make a positive post like that at the end.

Hopefully your post will be an inspiration to others just starting out.

I'm sorry to hear about your wife and I hope she comes through it.
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Post by Shining » Fri Sep 10, 2010 3:28 pm
I agree a positive post and I send my best wishes to you and your wife for a very speedy recovery. All the best xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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