Sentimental

[Sarah]

Hi All

I have just passed my 2 years in an IVA (although I have not had my review yet) and I am feeling a bit sentimental so I thought I would share my story with you

Mine was a story of heartbreak and retail therapy to help get over it and before I knew it I was in debt up to my eyeballs and not able to pay them. I typed in debt on the internet and found the company that I am with now.

I had £32,000 of debt and it was a very tough decision to go into an IVA as I didn’t really want to admit that I was in trouble. But I plucked up the courage and my IVA was approved paying back £426 a month with Barclays as my biggest creditor. I have to say I was very naive and just agreed to this amount but knowing that I couldn’t really afford it and my god how I wish I could have found this forum before I went into this.

6 Months into my IVA I was struggling and hated the job I was in (recruitment) and I applied for a job that I thought was out of my league but with a twist of fortune I got it and it was paying £8000 more than I was on…. After being in the job for a year I got promoted to a buyer (ironic isn’t it I now buy things for a living) with more money. I have also got into Jive dancing and now teach for the company and although I don’t get paid for it I do get in free to all the nights and get to do my hobby for free.

Now coming up to my second annual review and the likelihood is that I will be paying back about £800 a month but the great thing is by paying that I can finish my IVA a year early.

I think what I am trying to say is that an IVA really saved me, I now there is a lot of negative feelings on this forum about them (with very good reason) but they do work out as well and my life has gone from strength to strength since taking up the IVA.

To all those looking into it, don’t rush it, fine the right company and make sure you only agree to what you know you can afford to pay. Don’t get me wrong this has not been easy but it will be worth it when in 2 years time I will be completely debt free

Sorry for th long post but i hope it will help someone in making the difficult decision

xx

[Moneystinks]

How lovely Sarah that you have shared that with us.

A really positive post.

X

[worryhead]

Thanks for sharing, i can understand your situation, mine was very similur. Thats great that you can finish a year early, really wish i could do that as i am only in my 4th month so far and it seems such a long way away before i am debt free. How did you manage to get a year knocked off? i would love to pay mine off quicker, i would rather struggle a little more for 4 years then ust struggle for 5

[Sarah]

Hi

Trust me once you have settled into it the time flies by i cant believe that it has been 2 years.

Basically i phone up my IVA company and asked them to send me a letter of how much i would have to pay a month to finish 6/12/18/24 month ealry and then tried to see what i could cutback on to be able to afford that. I was fekt the same i would rather be living on a tighter budget for 4 years than carry on into the 5th year.

[luluj]

Your story sounds so much like ours! We kept spending to hide the grief of never being able to have children - every time we had a set back we would spend spend spend! Then eventually last year we admitted our problems and entered into an IVA - we pay £1200 per month, my husband just received a further payrise so we are expecting this to increase in due course as it was a payrise of thousands not hundreds! But I am not bothered by this - at the end of the day I will pay back probably all that we borrowed -plus the stat interest and IP fees and may even get to finish early too - it has been a hard lesson and and a very quick reality check - but I am so pleased and proud of our achievements in the last year!

[Sarah]

I agree it is a good feeling i just wanted to let people know that althugh it may seem hard now you never know what is around the corner so hang in there

xx

[luluj]

Absolutely - I feel like we have climbed mountains in a twelve month period (shame my body doesn't resemble the mountains by mind thinks we've climbed!) and am honestly proud of what we have done, gone through together!
The longer it has been the more confident we have become about talking to our close friends regarding our problems that were -not problems any more, resolutions and ways forwards !

[Viki.W]

Sarah, what a lovely thread. I'm really happy for you. Well done and good luck for the days ahead. Viki X

[Jan01]

What an encouraging posting to show that IVA's can work and the people in them can be positive about the process

Jan

[Adam Davies]

Hi
Great post Sarah
Regards

[kallis3]

A lovely post Sarah - gives hope and encouragement to all of us, particularly those just starting out.

[angela18]

I love happy endings.. so pleased for you..

[Soulgrowth]

Always good to hear a good news story ... well done Sarah [:)]

Debbie

[chardonnay]

Well done Sarah, your post is inspirational o all of us who have just started our journey (I'm 3 month into my IVA).
The fantastic thing for me, being single and in a strange town at the mo, is the superb comoraderie, support and help this site gives.
Love, hugs and thanks to everyone,
C x