IVA ACCEPTED TODAY OH MY GOD!

[BlueShoes]

That's interesting Louise. I wonder if the 6 month/12 month extra has anything to do with house value? Ours is worth about £190,000.
Blue

[sarah1975uk]

Thanks Andy

There was just no point in agreeing to unafordable terms only for me to fail the iva due to hardship. I had to stand my ground with the creditors. Obviously i out of moral peice of mind and feeling i had to do the right thing i chose iva as the best course of action in paying my debts, also knowing that if they rejected totally that i could go bankrupt and still save my house via getting family member to buy the beneficial interest safeguarding my home. the creditors realised this and realised they would get nothing back by way of paying the debts back. I feel happy im contributing 47p in the £ and that i will be debt free in 5 years. I will never ever get into debt again. Its far to easy to get into debt but not so easy to get out, it takes a lot of hard work and love and support from friends and family to get through this, im not through this yet but can see a dim light at the end of the tunnel. My advice to all is dont accept terms you feel you may fail on later on in the iva, fight for what you beleive in and stand your ground be firm but fair. YOU! are the most important person in your situation as is your sanity and families security. The creditors know you can go bankrupt and they then get nothing or very little in return. Its obviously the creditos job to get as much back of the debts you owe them, having said that you do need to be cheeky and haggle a bit to get what you want too. You have everything in your favour as far as iva is concerned. They all know you can ultimately go bankrupt!! Good luck to everyone.

Thank you for eveyone's help & Support xx

[scaredkez]

sarah i am really pleased it has all gone well for you and you stood your ground knowing what terms you could meet realistically.

hopefully a lot of new posters who read your posts will begin to understand that it is down to them to set their I+E realistically and not be led into an iva on such a tight budget which will only be heading one way.

good luck for the next 5 yrs keep us posted on how you get on.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[sarah1975uk]

Hello
I read with interest the part about not accepting paying for an additional year. (6 instead of 5) We are in the process of proposing our IVA, with little equity in our house and three young children. Maybe we need to speak with our IP if this is a possibility for us too. Our kids will be 14, 13 & 11 in six years-a hell of an expensive time!
Blue

Hi blue You are in a very similary position to me, my twins will be 14 at the end of my iva and my youngest will be 12. I cant obviously tell you what do do, but i hope that my posts on my journey into my iva will help and inspire you to get the best possible deal that will enable you to pay back some of your debts but at the same time not suffer hardship with you family. Good Luck blue xx You can within reason achieve anything..takes a lot of hard work and stress though but im proof it can be done xx

Thank you for eveyone's help & Support xx

[sarah1975uk]

sarah i am really pleased it has all gone well for you and you stood your ground knowing what terms you could meet realistically.

hopefully a lot of new posters who read your posts will begin to understand that it is down to them to set their I+E realistically and not be led into an iva on such a tight budget which will only be heading one way.

good luck for the next 5 yrs keep us posted on how you get on.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

Thanks Kerri it sure has been a hard slog but i got there in the end lol. Will definately keep everyone updated and give as much friendly support to others that i can.

Thank you for eveyone's help & Support xx

[ellexander]

Congratulations Sarah! That is great news!
Am a new member and am in the early stages of the iva process. I'm trying to remain as positive as I can, easier said that done aye. I know i've got a hard slog ahead...so here goes!

Congrats again![:D]

[BlueShoes]

Sarah
Thanks for the words of encouragement! We shall make enquiries with our IP regarding the best course of action for us to take.
I'm really pleased for you!
Blue

[thebear29uk]

Hi Sarah

I'm really pleased for you. Well Done.

Regards

Dave