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.
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.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
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.
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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.
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.
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