ok - so I've don my research and now know what an

[kallis3]

We've been in an IVA since April this year. Beforehand, I was literally going to the hole in the wall, taking the money out and then going into the bank to pay my credit card bills, and then going out and using it to buy food and other stuff.

The relief when our IVA was accepted was wonderful. We are now on a very tight budget with no spare money but able to pay for everything cash. We go shopping with a list, and ok, we do put extra stuff in, but it's usually stuff we normally have that is now BOGOF, so it pays to get it. We mark the price of stuff down as we go round and tot it up so we can keep within the budget. Seems to be working so far. It does also help that daughter works part time at Asda, so we get 10% off our shopping.

Using the car as little as possible - work and shopping and that's it.

Daughter (20) knows about our problems and is very understanding. Hopefully she won't get into such trouble.

It will be tough, but the light has been switched on at the end of the tunnel.

[michael.t47]

Jan, thats exactly what i was doing

[TheMatrix]

And me

[michael.t47]

i know i just started on process an not accepted yet. but already nice to see a positive bank balance. i got paid yesterday an it was not just repaying the overdraft.
phone calls have all stopped recently, is this the lull before the storm?

[Kazzy E]

Michael47, best of luck to you too. I am sure in a few months time when we are in our IVA's (think positive), we will be looking back on these times and wonder why we were so stressed waiting for it all to go through. But it's a big learning curve for us for now and the five years to come. Kazzy x

[michael.t47]

yeah so right kazzy, will be so relieved when i through all this

[kallis3]

Michael, I think they all take a break with the phone calls - we sometimes went a whole week without Mercers phoning! I think it is a ploy to lull you into a sense of false security so you'll be taken unawares when they do phone again!

You'll probably find they will write to you when they are not phoning. I just used to send them a snotty letter back.

[kallis3]

Ours too will run the full course unless we win the lottery!

I still love the fact that I don't have to worry where the money is coming from to pay for everything. I do sometimes miss having a debit card as it isn't always easy to pay for everything cash. but I'll put up with it.

[kal]

Mine too will run the course.
We are just about to make payment no 4, and I have to say the firt few months have been ok so far - no real disasters (apart from my passports), but like the others it is the having to budget all the time and get used to not using credit as and when you like.
It is nice to look at the bank accoutn and see a credit figure - we have a set amount each week for food etc, and i do stick to it.
I have to say we are better off since it began, and i don;t mean by money - there are no phone calls, no sleepless nights etc.
It really is the right thing for people like us to do - for once the government have got something right!
Good luck for your journey.
k.

[sparry829]

Hi Apple2
There is light at the end of the tunnel. I started an IVA in 2000 and finished it in successfully in 2005. My IVA was with Melanie. During that time, due to a robbery, I needed a variance. I found Melanie to be both sympathetic and helpful and she guided me through the problem. Though you should try and give as much back to your creditors as possible your repayments should not be punitive. In the long run it does not do you, your IP or your creditors any favours. As everyone on this forum correctly says you need to be realistic about how much you can repay. To that end you need someone who will realistically assess your payment level and put forward a proposal thay you have every chance of completing. To that end I found Melanie to be very good. You could certainly do worse and I am not sure you could do better. That said I am biased!

[Kazzy E]

Hi sparry829, how nice to see someone come out of the other end. Just out of curiosity, after your five years, did you continue without debt and three years after the completion of it, have you remained debt free? Kazzy x

[sparry829]

Hi Kazzy,

Three years post IVA and I am very careful about my finances. I now have credit cards and yes, I do have a small loan. The cards are empty and are used primarily for petrol or use on the internet. Prior to use I make sure that I know I have the money to pay at the end of the month. It has certainly shown me how easy it was to get into debt and how easy it would be to do again. I am inundated with credit card applications

sparry

[Kazzy E]

sparry, thats a real refreshing story. It's great that you have control over your finances and that you can now have the credit means there, but are not tempted to let them get out of hand. Well done you, I'm sure we will all learn a valuable lesson when we come to the end of our IVA terms. Thanks for sharing that. Kazzy x

[facingittogether]

for us being in a iva is just so much better than how we were living before! we had so many debts it was a full time job juggling which card to transfer payments off to another to pay minimum installments then it was all swallowed in interest!

we have to stick to a budget but for us it has been a god send!
youngest daughters prom was last night and i was so proud to see her knowing that her dress and everything had all been paid for and not on the never never! she may not have had all the trimmings that she would have had a couple of years ago when we would have put everything on a credit card, but she had a lovely night and if this iva has taught me anything it has taught me what is important in life, not material things but our health, children and family. i was one proud mum last night!

barb x

[Soulgrowth]

Hi Sparry ... welcome to the Forum ... what an inspiration your post is [:)]

Debbie