I wanted to share with you my journey. My debt problems started in 2000 when i first started full time employment. Overdraft of £150 then increased to £250, then bought a car on finance which i struggled to pay. Got a personal loan to make up for this. It was the end of 2001 and in the space of 12 months i was in debt of around £10,000. Over the years the debt grew, my income remained roughly the same but the temptation to apply for loans and credit cards grew. By the end of 2007 and a number of failed career attempts, enough was enough, i was living away from home in a flat, I had 4 credit cards, 3 personal loans credit on a computer and a credit company i loaned £300 off. I met with a friend at TGI Fridays who told me about IVA's. After a an hour long chat i was convinced to make the move to get rid of my debt worries. I picked up the phone knowing that I had nothing to lose. I got all of my loan forms agreement forms, I had created a new bank account in that same week, and within a month I was on my first step. I looked back in Febraury 2008 as to how much I had borrowed £36,000 unsecured, it was so so much, but picking up the phone to debt free direct to me was probaly one of the wisest decisions I had to make. At the time i actually read some stories from the iva.co.uk and i found it brilliant what people like myself had gone through. There was also a number of people i heard on the radio at the time of my times of need before i went for my IVA decision that people had described their pain of going through debt. I also at the time had gone through a relationship break up which hit my hard mentally and nearly broke me after the IVA had been set up.
Over the past 6 years due to losing my job i have only missed one payment of my iva, every month i have been on time and I have only a month left and I will have finished.
Over the past 6 years taking out a IVA has taught me financial discipline, how to save money and how to look after myself in ways i could not back in 2000. Its come with maturity and endeavor and ambition to make sure i do well in life too.
What have i learned? Lots !! I wont borrow again ever to the stupid extents that i did that got me to such a silly position, I have already started saving and have been with my partner for 12 months and married a month
She is very supportive of me and understands that the only way is up after I have finished.
Will be posting a short message the day i do make my last payment
