I think of my IP as a personal accountant, much like a business has an accountant. And at the annual review they are auditing the books to make sure everything is running smoothly.
I'm not sure the analogy would work for everyone but I can't be so wierd it doesn't help someone.
It's also quite a relief that someone has control of my money...coz God knows that's not my forte! LOL
Have to admit that I am going to be treating it like No_Money - just a monthly expense. I know it'll probably seem different once I'm in it, but the sums say I'll have more money available to spend on luxuries like "food" and "petrol" than I did before!
Still, give me two months I am might retract this last statement!
DK - some months seem to last forever but I am definitely better off now than I was when I was struggling. And I think that's true for a lot of people.
I will certainly be better off than when I was struggling, although not this month in my first month I had a VERY expensive month last month and just catching back up. However we will be able to eat without worry which was sometimes tough when trying to pay the debt as normal
"It is never too late to be what you might have been"
Fiona
I see the iva in a slightly different light as we spent 7 months on debt management and none of the major creditors froze interest. Because we were underpaying on all accounts the charges that were being added meant virtually nothing came off the balances each month.
Now we are paying 310 a month,30 quid more than the dmp,but in the next 6 to 7 years we will have cleared our debts.
The dmp had no end,we would NEVER have paid off our debts,so I can only see the iva as a positive thing.
We are a heck of a lot better off, where previously we would buy now worry later,living to a budget-to us- means only sacrificing the luxuries in life,all essentials are catered for.
Looking at it from the point of view of debt consolidation or a loan agreement - 5 to 7 years isnt really very long,is it !!!!!!
full and final accepted January 2015
iva agreed; August 2010
iva would have completed; August 2017
extra year thank's to NRAM
It can seem like a long time but I just keep thinking about the end when all that money will be mine mine mine. It will be strange not to be the church mouse among my friends!
Wonder if anyone actually finds it difficult to spend the extra cash when they have finished their iva.
Could we get so used to living in a tight budget that it becomes physically impossible to spend on *frivolous* things!!!
Any thoughts from those who have completed!!!
full and final accepted January 2015
iva agreed; August 2010
iva would have completed; August 2017
extra year thank's to NRAM
I haven't completed but found lots of nice things I was looking for that was suitable for a wedding today but am loathe to spend out the amounts they wanted, it takes me twice as long to shop but always aware of what I'm spending as it's cash not cards I'm handing over so makes it more real.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Well at this stage I can't see me ever having a problem spending money lol! although it will be nice to one day know that I can spend what I have and know that I don't owe anyone anything anymore, gosh I was a miserable cow yesterday when I posted on here wasn't I?
You were no worse than the rest of us lem!!!! We were all miserable, upset, scared and this form is a great place to let off steam,
At the moment I don't have too much of a problem with money - if I haven't got it I can't spend it!
Trouble is when I retire, shortly after I complete hopefully, I will have a lump sum and will be very tempted to go out and blow the lot!!!!!!!!!
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. http://kallis3.blogs.iva.co.uk
I am much meaner with money than I used to be! At the moment I kinda like the control side of things, I even leave food buying etc til the last minute and make up recipes from what I have left in the fridge. I was just saying to OH the other day we have totally changed how we do things now and it's taking a while to get used to it as we have spent what we want when we want all our lives, it's a bit of a shock!
"It is never too late to be what you might have been"
Fiona
We tend to replace what we have used during the week so make sure the cupboards and freezer are stocked up in case of emergencies!
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. http://kallis3.blogs.iva.co.uk
I'm shocking with my budget and seem to be getting worse! I only have £30 to last me 11 days...I foresee a week of eating pasta and pesto ahead. I should be ok for food but I've got to top up my oyster by more than that just to get to work!! Oops...
