Hi I am Sue and new to this site. I have had an iva since october 2008 (have just completed my first year). I think i am doing ok, but am now worried that I did the wrong thing, as all the money savibg websites (moneysaving expert etc...) don't seem to like iva's. My now ex husband had left me with about £25000.00 of unsecured debt (mostly in my name) and I had nobody to talk to. I am with freeman Jones, who seem very nice actually. Can you reassure me that I have done the right thing and that there wasn't a much easier and better way out of the mess I seem to have got myself into?
Hi Sue. Those particular sites try and force people to go to the so called 'debt charities' rather than take advice from IP firms. If you are happy with your IVA and your choice of IP ignore what these other sites say and be glad that you are not stuck in a debt management plan paying interest and charges for the next untold number of years.
You will legally be debt free in 4 or 5 years which is something to aim for and your credit file should be cleared up shortly afterwards. You can then get on with your life. Some of the posters on those other sites give misleading and dangerous advice while hidden behind some forum name. Stay where you are and ignore the IP attackers.
One of my relatives, as opposed to going for an IVA currently pays (and has been for the past 2 years) a set sum to a Company who are fighting to get her released from her debts, bank charges etc. To-date she continues to pay and unfortunately does not know when it will end or even at the end of it, whether ALL her debts will be clear.
I like you on the other hand have gone down the IVA route and would agree with Micheal...in 4 or 5 years time we could be debt free....no if's, but's or maybe's, with the added bonus that we are with reputable firms so we know where every penny has and will go....so yes......you have made the right decision in my mind.
Good luck and well done.
I came into this world with nothing and still have most of it left!
My views on Martin Lewis, in relation to debt solutions and IVA's in particular, are well known on here and don't need revisiting now. Unfortunately, there will be many people that take his words at face value and therefore deny themselves the benefit of a balanced view on things.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
What a shame that one who is deemed to be such a well respected figure in the financial world, and a champion of consumers, cannot see the benefit of this worthy solution. IVAs are not suitable for everyone, but I really wish that the creditor community and so called public voices in this industry would at least recognise them as being appropriate in their place.
I don't rate Martin Lewis and his views on IVA's either.
I reckon a lot of people could be put off if they read what he puts.
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
i considered bankruptcy 4 years ago,but decided to give a iva a go,my iva is now complete with a final offer in the 4th year.i have no regrets and am proud to have payed my creditors what i could reasonable afford.it was,nt easy but would recommend a iva if you hve enough disposable income but it is very important to have a good ip like the majority that post on this site.
I am sure you have done the right thing Sue - we all want to try and pay back as much as we can.
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
What Martin(state the bleeding obvious Lewis)! I turn the tele over whenever he comes on, if he does not recognise IVA's as a debt solution then what does he support? BR? chasing your tail for the rest of your life?
Thanks eveyone I really feel much better and far more confident that I have done the right thing. I have only been on here a day or so and for the very first time I feel better about my situation. It's not easy and I hate having to deny my daughter stuff she wants (which I am also beginning to think is not such a bad thing), but I will get through this and now I have you guy's to chat with..and maybe one day I will be able to help someone else like you are helping me..thanks again..I feel great today x
I'm so pleased we have been able to make you feel better about yourself. We've all been in the dark place where you don't know which way to turn.
We are always here for support, advice, a rant, and general chitchat if you need it.
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
Not just on the debt side either Andy - we do have a thriving social section![:)]
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
Hubby ended his IVA early 2 years ago.
We have NO regrets what so ever. It not only helped him with his debts but also rehabilitated us. We no longer spend stupidly. If we want it, we save for it.
We shall be like that as well once we have finished.
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
