Post IVA 3

July 13th, 2010

Life is moving on so fast it is hard to believe we have been post IVA for 6 months. We have continued with all our budgeting and still draw out cash for our weekly expenses petrol and food etc. We have renewed all our utilities and today we renewed our house insurance and saved over 125.00 per continue to be sensible and frugal…in the right sense.

 We have approximately 700.00 extra each month as this was what the IVA payment was and with the extra we have saved with our utilities etc we have almost 900.00 “spare”. With this we have put in a new bathroom and loo…had a 10 day holiday in The Algarve and paid cash for it all. …. and what a thrill this is…to all of you on this journey the thrill of being able to pay cash for things and not use a credit card is the very best feeling EVER.

On the subject of credit cards….we do have a Vanquis and have used it each month ..we have a limit of 500.00 and tend to run it up about 125.00 each month and then pay it off..we have never been tempted to use it for luxuries or for “just anything ” and our sole reason for using it is to help repair our credit score for any further mortgage or car purchase we may have in our future. We have also joined a catalogue…got a 200.00 limit and ordered our holiday clothes from it and paid it off in full…and will make small purchases for a few months with the aim again of repairing our scores.

We have had the “axe” fall on our long awaited redundancy…Hubbys last day of work is 30th September this year and altho he has 3 months notice he doesnt have to actually work it…so its a very novel thing him being in house all the time..but he is keeping himself busy.!! Not entirely sure what the future holds but we are sure it will all work out..the redundancy payout is only the government pitiful amount but will see us through till early 2011 if he has not found employment so not going to worry or panic at the moment. We have had this hanging over our heads for so long its almost a relief to get a final date and we are so grateful that it didnt happen until after our IVA was finished.

One thing that will keep him occupied is decorating the expected grandchilds nursery….our gorgeous daughter and hubby had the amazing miracle of paying 7,000 for IVF and falling preggers on first attempt.!!..Our first grandchild ( a boy ) is due in November and we are so delighted we are speechless  and cant wait.

Finally….I posted on forum asking if any of the IPs or Experts had info on a firm called Tyler Morgan..we had a flyer from them after we paid off our IVA asking if we wanted them to reclaim PPI on a no win no fee basis…after thinking about it for some weeks we decided to give it a go and see what happened. We have had two cheques of them in last month for substantial rebates and even tho their fee was 25%…we still got a fair amount back so highly delighted with that…and completely hassle free.

I continue to read the posts and think back to what a godsend this forum was to us..the IPs and the Experts who give their time and answer all the queries are to be highly praised. If you get a chance to go to a Frugal Friends meeting then take the opportunity to chat to them…they were so kind and helpful to us at both the meetings we were able to attend. I loe to read the blogs…oldies keeping us up to date and the new ones who have started too….blogging is a great way to pass on the highs and lows of the IVA journey …to encourage new people who are reading the forum and looking for help and to know they are not alone…….and also helps the blogger to get things out of their systems and gain perspective. I know for myself that blogging through our journey was a tremendous cathartic experience and perhaps this post IVA blog may help others to keep pressing on

Post Iva 2

April 30th, 2010

Thinking back to how life was in the IVA…thought I would list the feelings that were prevalent during the 39 months we were working our way through…..and some of the things we did that helped us to keep pressing on…..

 Fear of others finding out….ongoing shame and guilt of getting into such an awful mess especially at our age….(late 50s)….worry about job situation….(OH company went into administration during the last few months of IVA and I am self employed so my income goes up and down and is always precarious)…constant working out the available money for the unexpected cars MOT work…boiler repair…vets bill….logging on to forum daily sometimes for hours just to hang out with folk who I knew would help and encourage me….writing lists of how much would be needed to do certain things….asking all sorts of questions from the experts…trawling the internet….checking supermarkets for deals…driving to Asda for petrol….and much much more.

 We lived with a kind of low level anxiety and at times just one small event … car failing MOT..could cause us to have a major hiccup…or row…or depression….and when the annual review came round this low level anxiety seemed to notch itself up by quite a few levels. Once we found the forum and had attended a couple of the Frugal Friends events this stress over reviews got a whole lot easier as we become more informed. Hands up those who signed on the dotted line without really taking in all the info when the IVA was approved…we just hadnt realised how ignorant we actually were until we found the…I hadnt a clue there would be an annual review until we got the papers through the first year… I was like ..”what the hell is this???? what on earth are we supposed to do with all these forms??”..Looking back I am amazed at how ignorant we really were and know this forum helped to bring us into reality  and I once again want to thank all the experts and IPs who give so much of their time to this forum for people like us….

The more I got involved in the forum the more I wanted to help others and I spent many months writing my personal blog of the journey and also helped to administrate the blog sections….anyone remember  the blog awards??…they were fun times but also I felt as if I was giving something back to the forum in a small way. I downloaded my blog for several reasons…mostly because the season for writing it had passed but also because I got quite a few negative comments that didnt help me much and although I should have just ignored them and carried on I felt it would be best to stop the journal…

 One aspect of being in an IVA that is different from person to person is the whole question of “do we tell others” or  “do we keep it quiet”…for the first 2 years of our journey we kept it quiet but when the situation with OH company and the possibility of redundancy reared its ugly head we were faced with “what will we say to people if the worst came to the worst ” …lots of people were saying…”think of all the redundancy money you will get ” little knowing most of it would have been swallowed up as a windfall after reasonable living expenses were allowed ….and if the absolute worst case scenario happened and the IVA failed how would we be able to go Bankrupt and perhaps lose the house without telling family and friends the truth….with this in mind we decided to come clean and tell family and a couple of friends. I will blog more about this in a future entry.

 If you are reading this and you have just entered into or are thinking about entering into an IVA…can I encourage you to get stuck into the forum..ask as many questions as you need the IPs who give their time to the forum…maybe go to a Frugal Friends event …everyone is so lovely and welcoming and there is help for everyone…no ones debt is too big or too small or too difficult …there is a solution for you. When we first logged on I was so reluctant to even say what our debt was cos I was sure no-one would have a debt that big…but the 96,000 we owed and the 32p in the £ dividend and the 680.00 per month we were paying was not the biggest…or the worst…it doesnt matter how big or small the debts are..what matter is finding a way to get out of debt…

Journey from Debt to Life..Post Iva

April 23rd, 2010

For those who dont remember me…..a quick intro…I joined the IVA forum approx 20 mths ago when we were in the 2nd year of our IVA….I had soooo many questions to ask in particular about the 4th year clause. I was overwhelemd by the help…support and encouragement we received from the experts and the IPs.My OH and I attended a couple of the Frugal Friends over the next few months and had some time with Melanie who was able to give us specific help re our IVA.

 We pressed on ..despite huge worries re OH employment….his company went into Administration and his job was transferred to another company and as I am self employed we really were very worried. Again the forum came up with the info re IVA protection and we took out a policy with Cover it All and this gave us huge peace of mind.

 Last October we were blessed by a third party offering to give us 10,000 to offer a Full and Final and our IPs firm McCambridge Duffy worked miracles and Michael Peoples and his gang deserve medals for steering this through in ultra quick time and in February this year we opened the post to see our Completion Certificate….Wow…..

I still regularly read as much as I can but always hesitate to answer the queries and I thought perhaps a Post IVA blog may be of some interest to those who are wondering what life is like when you get to the end of your journey. I did keep a blog of the journey whilst still in an IVA but for personal reason I downloaded it….but it has always been a “journey ” and my blog title hopefully describes exactly that….it has been an incredible journey for me….for us as a couple for our family and for our friends who knew what we were going through….perhaps this will offer some hope for the dark days….some encouragement for the tired days….some interest for the days when all seems miserable….

Hello world!

April 23rd, 2010

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