www.iva.co.uk

Well two years in and although we struggle some months i work all hours god sends to get a little extra, 2 years down and we have managed to hand over another £3K with the 50% rule and it feel great to do so, i see all the posts regarding PPI claims and there are some that feel that because they wont see it they cant be bothered, well we dont, anything extra we can give back we will, i have spent hours filling in forms, doing research and emails to and from with calls etc etc, first claim awararded today for £13500!! yes £13,500!! we realise now that we got into a mess due to paying nothing but PPI and interest for up to 10 years on credit cards etc and 2 loans (both of which were paid in full nearly before we started the IVA). We wont see a penny i know, but the feeling i have today is one of WOW, look what we have done, the wifes 12 year old car is on its last legs, the bathroom is desperate to remodel due to a leak last year and now mouldy so having just the money that would have been paid to the claims company if we let them do it would be nice (around 4K) but we know we wont get a penny, its still nice to know we have increased our dividend and there is another 14 claims to come although they wont be anywhere near this amount its still nice, I just hope our creditors and our IVA company look favarable on the extra we have tried to do with my overtime and the claims as we just found out a few days ago that we will be having another baby [:D] we are over the moon but a little worried that we wont get the help we might need in our hour of need now, our outgoings will increase of course, we downgraded the wifes car to a small banger before the IVA started thinking this was what we had to do! wish he had not done that because it is not big enough and a rusty heap just passing its MOT with more to spend but again we wanted to help and perhaps we are too honest, we know another couple in an IVA and they have a caravan and go on holiday, where as we have spent the last 2 weeks (our summer holiday) at home doing stuff on days out locally because we cant afford the extra fuel, our son is 8 so we will have to start again not sure how we will manage getting a cot/pram etc but im sure we will find a way it just does not stop the worry about a review or revision that might be needed. So there we have it, We are getting some nice amount of payments back and wont see a penny but we are so happy to have done it and the only negative i can see from all of this is that I wont get the £50 spent on Postage stamps/paper/printer ink etc so life cant be that bad, im grinning [:D]

well done,

Given that you have saved creditors a lot of money you could request a variation to allow you to get a new car with some of the savings. I see no reason why creditors would refuse this especially since you are continuing on with the reclaim process for their benefit.

Well done and I agree with Michael.

Can I just say as well that with most of it's not a case of not being bothered, it's a case of either ne Dr having taken out PPI (as in my case) or feel that they weren't missold in the first place

That's such a nice story. I've tried to pay extra when I can although I don't get overtime or bonuses so hasn't amounted to as much as you've added over the years. I too am claiming PPI and although I feel a little sadness that I won't see any of it I realise I need to pay as much as I can back to my creditors. I did after all enjoy spending the money at the time.
I've just spent the morning trying to re-negotiate my mobile phone charges and have managed to scrape a little off the monthly charge but also found out when the contract is up so have made a diary note to cancel in a couple of months and opt for a sim only cheap deal rather than the yearly upgrade contract which is just too much money (even when not in an iva).
It's a good feeling when you save money, I would go as far to say a better feeling than I used to get buying shoes. I'm hoping that with the extras I've managed to pay in and the up coming PPI money I should be paying back more or less everything I owed (except the interest). That will be a good day.
There are many people on here that talk of shame and embarrasment about the position they are in, whilst I can understand that I've never felt shame, only anger at myself for being so stupid with money. I now have a boyfriend who is the total opposite of the old me and has taught me so much about spending and saving.
I'm really looking forward to the end of my iva so I can concentrate on building up a little bit of money behind me and maybe ... well ... I'm hoping for a quiet wedding and a little house with him but he's keeping his plans very close to his chest!
Luckily for me, DREAMS ARE FREE, THEY DON'T COST A PENNY!

Do you think Michael? I would hate to jeapordise our IVA by making the creditors think we are being greedy by asking for some.

Niobe, sorry my comments were not aimed at all, we of course have not made any claim that should not be made, i just read that more than a few that feel, because it all goes into the IVA POT and not to them then why bother, of course if a claim should be made, and not those that claim just because its worth a shot. I dont want anyone to think i am saying all or everyone are/is the same, this Forum has been my life raft for the past 2 years, I just dont post much, shy mainly. I am claiming in my case because in some cases i was not aware of certain things about mediacal history (not asked about it) and some products were not give unless PPI was inclused. All above board and geniune. Just thought it was noce to post a sucess for creditors without the need for a third party company taking something.

No worries, just caught me at an off moment.

I'm sure your IP will be understanding and let you keep some. Give them a call.

If you proposed a variation asking to retain a certain amount of funds then there is no reason for rejection. We have called variations before excluding some or all of PPI reclaims where the client showed they needed it. Creditors have usually voted in favour as it does not affect their return and I see no reason why they would reject yours.

Ask your IP and even if they cannot return funds to you that have been paid to the IP, they could sanction a payment holiday [without the equivalent extension] to allow you a new vehicle.

I know what you mean Suky, its the paying back more that make us feel great too, its not about how much its about the doing that feels great, We have been saving a few pennies here and there over the last year and when we get enough to buy the bathroom suite (only £480 cheap one) something goes wrong with the car or little one has a chance to do something with the school or cubs so we dip into it again and start afresh. Well done to you for getting near the 100p mark that must be a great feeling and lets hope he lets you know his plans soon eh.....

I'm not sure I'll ever know his plans ... he's a man of mystery ... but lovely with it!

Don't tell him I said so tho, he'll get all big headed ... hopefully he doesn't read over my shoulder ...

Thank you for your advise Michael, It would help my blood pressure problems knowing that the wife would be travelling around in a safer non rust bucket car with the kids, means less medication for me thus more productive hours at work too another winner for the creditors hehe

ps....sorry my spelling is very bad today, should really check before i post oops ....

Hi and welcome in-a-mess-indeed and what a lovely positive posting, good advice from Michael, let's hope that you will be able to keep some of this money back for all that you need. I too have had some good news today regarding PPI and another claim is in which has increased my dividends to my creditors to nearly 100p, if i hadn't had to pay over 33.3% to EIF they would have got 100p and there would've have been some surplus too, hey ho never mind, i'm just waiting now for some correspondence from my IP regarding having made my last payment on friday last week. Good luck with your IVA and best wishes for the future. xxxxx

WOW congrats Orchid5 thats great news for you, and well done for getting to 100p thats fantastic :0)

Well done. What a lovely post