frenchie696 -welcome to the forum 1
Having lived through an IVA I can list a whole host of ways you can adapt to enable you to get through life in an IVA - have a read of the Blogs on the forum and this will give you huge insight into how we have travelled out journey and what we have done to ensure we have had the occasional treat - it hasn't been an easy journey but it has been very rewarding and it has taught us some hard lessons - one of which is always respect what you achieve and not take things for granted !
Staying tuned into the forum will give you the support and encouragement to see things through and at any time you have a question an expert will not be that far away from giving you an answer !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Hello and welcome. When I "went IVA" I was dreading living to a tight budget -- but really got into it (bit OCD I think, now ... even keep a spend diary!). I actually enjoy the budgetting now because, unlike when all the money went towards CC interest, there is money left at the end of the month (instead of month left at the end of the money!).
Might I say it's great to see that you and your OH are supporting each other, it does make the whole process so much easier.
Best of luck and keep posting :0)
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Welcome to the forum and I am 36 months into my IVA and confirm there is life within an IVA. I tend to spend what I can save over the weeks with a meal in a pub, it's our treat and we enjoy it. I for one feel very secure within an IVA, not only protection from creditors but feel I have a better standard of living to that of pre-IVA, it's taken so much stress away from me. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hi frenchie, from the messages already posted I think you can see that an IVA is not a walk in the park but if properly constructed, it should give you a sensible budget to live on which will make life far easier than if you were continuing to struggle to pay your debts.
A key message however, is do not let yourself be bullied into an IVA you can not afford. If you do that then things will not get better and you risk your IVA failing down the line.
Hi! It will take time to adjust but there will be treats and you will be able to do things. I find that I'm better off in the IVA but budgeting will never be my forte! The security as Lesley says is absolutely priceless. Good luck and keep posting x
Hi Frenchie - I don't have a date as yet, just still collating all my info together to send back with my pack, so am guessing mine will be late March / April. Already dreading it with the fear of my creditors not accepting it.
But like you - I have no children and my other half is supportive of what I am doing.
Since I found this site, I've let off some steam and feel I can discuss my issues without feeling embarrassed etc.
Susie
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Susie
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IVA Accepted 31st March 2011.
IVA Ends 31st March 2016.
hi and welcome from us too. cant say the first 12 months have been easy, but we've made it and learnt loads from our mistakes, and it great to finally see our bank account in credit at the end of each month, albeit very little, but it still ours with petrol in car and food in the cupboards - all paid with our own hard earned cash. We too have still manage to do nice things with and without the children and we've tried so hard so it hasnt affected them in the slightest. Not their fault were in this mess!! Emotional wise its a big roller coaster, even now i still have the doubts have we done the right thing and are we gonna make it through the next 4 years, but day by day the light at the tunnel is getting a little brighter and my worries reduce. We have found the forum invaluable and made some good friends from it. We wish you every success for your road ahead. xx
PS good to see someone from payplan on the forum!!
Thank you all so much for your support! I am so lucky to have found this forum, I too feel like I can 'vent' without fear of judgement. The company who are dealing with my IVA have also been very helpful.
My other half is fantastic, at first he did not realise the true extent of our debt but has been nothing but supportive since 'the talk'. We are working as a team, I am sure if we were not strong it could have pushed us apart.
I love the idea of keeping a spending diary, I think I will start to do that and its good to know there is life and a bit of wriggle room within the IVA.
I believe it is affordable - we will be paying 550 a month but have been honest about our living costs and the company working with us seem happy with it (it was originally 450 but I was advised that 550 is what we can afford and I trust them after looking at the living allowances we would have).
I am also terrified that it won't be accepted - especially as 2 of the creditors are with payday loan companies and they have started to add a hell of a lot of interest and charges because they are not being paid. I worry that if declined we will be stuck with even more debt than we started out with. I refuse to go bankrupt as it would destroy my reputation at work (I know that it is advertised in the local paper). But there is also a strong feeling of guilt. We had this money and should pay it back - I feel guilty that our creditors won't get 100% of what is owed but we have no choice now - we can't realistically afford it. They put credit limits up all the time and we fell into the 'trap' of living outside our means.
Thank you all again for you supportive comments and advice and wish me luck for the 14th! I will keep posting and to anybody who is in the same situation, good luck and chin up xxxxxxxx
we found the iva actually brought us even more closer together as a couple and as a family( our 2 boys) something of which i didnt think was possible. keep us posted x
Just to say as well, bankruptcy is rarely advertised in the local paper these days, but it won't get that far, I'm sure you will be approved.
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
Hi, there is nothing else i can really add to what has already been said but i would like to welcome you to the forum and wish you all the very best with your journey to debt freedom.
