What you pay is based on what you can afford to pay,so if you can afford the £211 a month then thats what you pay. Remember interest if frozen and by your figures you are getting some of the debt written off too.
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Hi
Your creditors will only receive about 8k from your IVA, they have agreed to this and as long as you find it affordable then you have done well.
Your creditors could have refused your IVA preferring a six yeard DMP where they would have received all their money back.
Regards
Andy, have you any objection if your book is displayed in the Library of my son's six form college. There are all sorts of leaflets for students on borrowing money but none on the consequences. David
Clive.g the creditors can take as much as you can afford to give, although it may seem like a lot. atleast feel better knowing your doing a fantastic job paying off your creditors, and will be able to live peacefully debtfree after this.
EVERYTHING HAPPENS FOR A REASON................
[IVA JUST ACCEPTED!!]
ELV5, i wish schools/sixthform colleges/Universitys did more to show the consequences of being in debt. i think its a brilliant idea stocking it up in the sixthform.
i believe the values and lessons learnt in childhood are firmly inbuilt into our thoughts. that is afterall what makes us who we are.
i never want the furture generation to ever have to face the situations we are now facing. I think i'd be heartbroken if any of my children ever got into financial difficulty as i have done. i think problems like this can be nipped in the bud before they get out of hand.
my new philosophy for my children would be if you can't afford something walk away from it as far away as you can, so the temptation fades away.
EVERYTHING HAPPENS FOR A REASON................
[IVA JUST ACCEPTED!!]
Thank you for your support - my ex- bank offered my son who is at school (6 form) a pre= approved credit card £3,000 limit(!!) when he reused they offered him loans! How did they think he was going to pay it? His course at Uni will be a 4 year one and he will be about 23/24 before he earns a penny!
Shull_b Omg thats soo my motto now.. If you cannot afford ya cant buy it.. I think we all have certainly learnt from our mistakes with money and how to go about it.. Because being in debt is one of the worst feelings ever..
Thanks once again for all the advice
A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain
My daughter, who is at Uni and also works part time, changed her bank to NatWest and applied for a credit card - they refused as she was still a student!
I do hate the fact that they bombard you with loans and credit cards, especially when you are young.
Daughter has her laptop on credit with HFC - they have been a pain constantly phoning up to try to get her to take out a loan, which she has refused to do. I'm afraid if they ring up for her now, they get short shrift from both me and hubby and told not to phone again!
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 don't think that you can ever be paying in too much into an IVA. If your payments are currently affordable, then you should continue to make them at this level until the IVA has concluded.
i agree. i don't mind paying extra if i can afford too. but don't want to have to struggle and make the payments.
you shouldn't really feel the pinch of the IVA as to me it will become like a fixed cost, the same way i view my mortgage. when my wages come in the second day the DD payments are gone and the rest of the money left is for me to spend as i see fit. this helps me plan what and how i'm going to budget.
EVERYTHING HAPPENS FOR A REASON................
[IVA JUST ACCEPTED!!]
x
