I received a phone call from the IVA company to say, that they had received all the documents they need to start drafting our IVA. Anyway after we'd had a chat and got a few questions answered he said he'd send out the proposal to us in the next few days.
When I put the phone down it suddenly hit me, that this is it! This is going to be our way of life for 5 whole years or maybe 6 depending on any modifications from the creditors.
Its brilliant that we're on the road to being debt free, but scarey at the same time. I know 5 years isn't long in the grand scheme of things, but at the moment it seems ages away! Our daughter will be 7 when we finish our IVA, I can't imagine her that big!!!
We've got a way to go yet until the creditors meeting and getting it all finalized, but this phone call just seemed to make it hit home!!
Best of luck Kazza. Think of the IVA as a consolidation loan over 5 years. Then add up how much a real consolidation loan would have cost you and how long it would have taken to repay that. Maybe do a Robinson Crusoe and mark the months off or as a lot of posters do here, mark your avatar with the months to go. Hope it all goes well for you.
My eldest daughter will also be 7 when our IVA ends and the youngest will be 6 - I can't imagine them both being in school!
Year one has in some ways flown by but in others dragged. It has been very hard but we are determined to keep plugging away at it.
Mine is going quite quickly. Each month is another milestone passed and I love to see the numbers altering under my avatar.
My daughter will be 25 when mine finishes! Both of us will be OAP's!
I'm looking forward to a nice exotic holiday once I'm debt free!
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 Kazza,
We've just completed our first year, really can't believe where it has gone! I know for a fact that we are alot less stressed than this time last year, and I have to say its the best thing we have ever done. Good luck to you I'm sure everything will go ok.
Love Abi x
Just imagine what life would be like WITHOUT an iva for the next 5 or 6 years and you will soon appreciate how good they can be if you get the right IP to work with!!
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
It is a screy thought I know, my IVA has just been approved 2 weeks ago. But think back to when you first got your credit out and how long ago that was, how fast the time has gone. The IVA will be over in no time and we will have out lives back. I can not wait. Leason learnt over a hard 20 years of living off an ever increasing credit
Good luck for your meeting, I hope all goes to plan. Keep us posted on how it is
There are 10 kinds of people that understand binary, those that do and those that don't
It is very scary and a big decision to take but is so worth it!!
I remember feeling so sick, I didn't sleep for years worrying about money. The mountain of bills grew and grew! Now though we have only 17 months left and are so proud of ourselfs! We have done so well. I am so looking forward to being debt free and swear to never ever have another credit card again. I swear by pre paid credit cards now!!
My son will be 9 when it is finished and my daughter nearly 6! At least it will all be over before they start "needing" the latest trainers and clothes etc!!!!
I go for the reward of an exotic holiday at the end of it too!!!!
Awww hun, its a big step and of course quite a scary one, knowing there are going to be tight times. Make sure you factor in that your daughter will be growing a lot over the 5 years. The good thing is with sites like this, you dont have to go it alone.
Good Luck Kazza7, the reality actually only hit me 3 months after approval and in all honesty I have days when I question what I have done. But then I think back to how much better I feel now than the dark times I experienced at the start of the year and I know I did the right thing.
Despite me moaning and groaning on here, I am managing and can continue to manage. I just hope that nothing unexpetced occurs in the next 6 years (relationships, employment, health). Good Luck.
