www.iva.co.uk

Good afternoon everyone, I hope that you are all well.

I am now in month 3 of my IVA and I must admit I have never been happier. For the last 3-4 years pre-IVA I have been miserable and worrying where the next £ was coming from to pay my creditors but now after 3 months I feel a lot more settled.

A few of my DD’s have increased slightly so I am £20 pm worse off but I am budgeting so much better now and actually putting away £50-100p/m in toa contingency fund for things like car repairs, road tax, dental treatment etc which I am ignoring and not using at all unless it is for an emergency.

I am now not spending as much on tobacco or lunches and I have also cut expensive meals out and alchol down to social levels rather than binging at the weekend and spending £60 a night (which was all on borrowed money!)

I feel great walking in to shops now and knowing that any spare cash I have at the end of the month is mine and that anything I buy has been paid for rather than on credit – to do this after 15 years of having credit is an achievemnt in itself and has taught me to be more prudent with money and to value it more than I did in tha past.

I have friends that are better off than me but I have dealt with not having the money available to sometimes do what they are doing and going on expensive holidays etc – at least at the end of the moneth I am ‘solvent’

The good news is that it also seems my creditors have given up hassling me. Also, I have appreciated keeping in contact with my IP about any issues I may have so there is a good relationship there.

So, for those in an IVA or thinking about one – there is light at the end of the tunnel. Yes, it is a struggle at first but once it has settled down you will feel a hell of a lot better.

All the best.
M

Great post Matt and will be a help to others considering going down the IVA route. It is also good to see that you have maintained the relationship with your IP and this will make any problems easier to deal with[ should they ever arise].

You have certainly started off on the right foot by having a savings account for contingencies and I hope the rest of your IVA goes as well as the first three months.

Thanks all. The first 2 months were tough as I was not sure where I was with DD's and changing accounts etc but for those considering the IVA route IT DOES settle down and get better.

I am off out for a meal with my parents later and normally would pay by credit card, now its on my debit card and paid for - if they want a desert though they will have to pay, the budget doesn't go that far [:)]

Its a great feeling isnt it!!!

I love budgeting, I am looking forward to doing a "cash" Christmas. I value my posseions a lot more and I am no where near as materialistic as I have been.

My 9 year old son understands no I cant afford and never pulls faces or moans, my 4 year old is a happy little girl anyway!!I must be a happier Mummy to be around as I am not stressing I have always had an intrest in cooking but now I like to challenge myself with how cheap but still good I can do dinner for!!

I can go on forever but most of all I am proud of myself for removing my head from the sand and doing something about my situation.

Essexmat great to hear your getting on well with your IVA, both you and Fingerscrossed seem a lot more content and Fingerscrossed damn right...... you should both be proud of yourself!!!!!

Amazing how debt consumes us and actually effects those closest to us. Fingers it looks like your IP helped more than just you......to see your children happier must be a real plus and I sincerely hope that I too can feel as elated soon.

Best of luck to you both and thanks for sharing your progress, as Ladyh says your words are such a help to those of us in the same process.

this is a excellent thread and i feel exactly the same as you lot,when your iva,s are complete you will feel as proud of punch.when i get a letter even if it is junk mail i feel chuffed because i rarely get any these days being afluent.

top man matt well done.
its a nice feeling that theres light at the end of the tunnel and money problems are getting no worse now.

I can't wait to be in the same position! Hopefully not long now until our creditors meeting date:)

Great positive post and I can totally understand how content you feel I'm exactly the same.

Fabulous post, I hope to be in the same place as you sometime soon xxx

Great post Essexmat. Glad your IVA is going really well and well done for being able to put away a decent sum of money into your contingency fund.

I actually like the fact that I can walk into a shop, have a look round and then walk out again! Even though I sometimes feel tempted, I know I can't do it.

Never used to come back from a Saturday afternoon trip out without having bought something (usually clothes, hence the large amount of stuff waiting to go on Ebay!)

Hope it carries on being good for you.

Thanks all. If my comments help just one person that will make me happy. years of misery is now being sorted thanks to a wonderful IP and help on this site.

In addition to this I have slight OCD so you will laugh at this. When I look at my on line bank account which is my standard account and contingency account I see an odd amount left such as £91.47 so I go on line and transfer the £1.47 to my contingency fund.

This sounds silly but it all adds up so as well as proper amounts such as £50 pm going in throughout the months I put the odd amounts in which can lead to another £20 going in!

try it!

M

It doesn't sound silly at all. I like to see a nice round figure (although have to confess to being too idle to alter it!)

Better that way than not bothering at all!

Don't worry Matt, I do exactly the same!

My son is the same but I'm not, he always has done this