Here We Go Again...

Thanks for your post Wentworth it has been very helpful and I’m glad you’ve reported you’ve had no issues I was getting mixed reactions on the internet on the review sites but you can’t always trust those as rival companies post bad reviews just to try and put people off! When you do your annual review is it just the last 2-3 months bank statements they look at? I didn’t tell my lenders the reason why I was entering into an IVA I just told them I had applied to do so and could they put my account on hold for 30 days while it was reviewed I really want to avoid phone calls and nasty letters but they will probably come anyway. I have never missed a payment in my life but it’s been a case of borrowing off Peter to pay Paul. Did you stop making payments after your IVA was approved or before? Thanks again 🙂 xxx

Hi

They never asked for a bank slip in the time I was with them , all I had to send was my income and expenditure for a month and my yearly pay slip, it may of changed now, the creditors I owed money to At the time I hadn’t actually made a payment for 2 years prior to my Iva , that being I was hiding my addiction and I was 45k in the hole and payments were almost 2k a month and due to the recession there was no way I could even come close to that amount. Bearing in mind that my original was 25k but because I had for so long I got 20 thousand pounds worth of interest and late fees added on,

The good thing about an Iva is they can lower your payments if you say start earning less , on the other hand they can go up if you start earning more.

It is one of the best options there is if you can’t afford the payments as it’s only a max of 6 years where as a payment plan goes on until you pay back the balance which in one cases takes decades. So it’s definitely the most attractive way of sorting your finances also by the time it’s finished it gets wiped of your credit report as a debt only stays on for 6 years.

Do you own a property or do you rent ?

We own our house but have been on an interest only mortgage for years so very much doubt there will be any equity in it unless they find a goldmine at the end of the road!! From what I can gather they now ask for 2-3 months of bank statements in preparation for ur annual review so I guess as long as you don’t appear to have left over cash during these months then it should be ok. Just praying that it all goes through so I can finally see a finish line. Thanks for all your advice and well done on the 13 months 🙂 xx

Thanks you’re not to far behind yourself, almost the year now.

I rang my mortgage provider at the end when they wanted the equity and asked for them to send me a refusal letter and they did and I just had to pay another 12 months payments which was the 6th year in the equity clause like you say if you only pay the interest chances are you will only pay for 5, If they check your bank statements be crafty and get some cash back every time you go shopping that way it looks like you’re paying for food which you need. Baby sitters cost a bit every month aswell if you catch my drift. All the best and will look forward to seeing how you get on

Day 356...not heard back from pay plan about the IVA. Sent the last documents to her last Tuesday so will wait until tomorrow and chase her for an update. Have nearly notified all my creditors what is going on, haven't heard anything back from any of them....is no news good news?! Who knows, I hope so. Fingers crossed this is all done and dusted before Christmas.

Hi,

Thank you for your kind post and.hoping your IVA issues are sorted soon. Fingers crossed.

Well done on 356 days. Getting near the one year club. Best i order the cake soon.

Best wishes

Day 363 🙂 IVA proposal signed, just need to send screen shots of credit card balances back and then the meeting with creditors will be booked. 2 days til the big one year....can't believe it, it really has flown just can't wait to get all this bloody debt sorted now xxx

Today marks the end of my first year gf 🙂 i am proof that it can be done but you can't do it alone and you have to have the proper barriers in place....ie...no access to cards or large amounts of cash. Now is the time to sort this debt out and carry on with the rest of my life and finally start getting stuff done to the house 🙂 xxxxxxx

Day 381 - IVA meeting on Monday, fingers crossed that all goes to plan. Then I can start thinking about doing some Christmas shopping. Normally really organised but haven't done anything this year yet and we go on holiday for a week in Dec!

Gambling does not enter my thoughts unless there is an advert on the tv....the husband made me laugh last week, we've been out partying a bit too much recently and were trying to think of things we could do instead of the usual binge drinking sessions and he suggested bingo.....hahaha...errrrrrrrrrrrr that's gambling love. I actually remember playing bingo in an attempt to get me off the mega money games and it was the most boring, pointless thing i have ever played!

Day 384....IVA HAS BEEN APPROVED SO HAPPY I COULD HAVE A LITTLE HAPPY CRY!!!!!!!!!!!!!!!

Whoop whoop Shorty 🙂

Soz I missed the party so a belated welcome to the 3% club & enjoy that cry 🙂

Very well done so far, long may it continue!

Glad you have kept us updated with your success, its an inspiration to us all.

All the best with everything, enjoy what you have created =D

Wow Shorty, Just read your post on my diary. First time I'd posted in a long time - didn't realise you were still posting. Wow, looks like you have really been through the mill but thrilled to see that you have finally made some significant progress. Your diary has a lot of similarities to my own, the circumstances and the levels of debt you have found yourself in and the worry it's caused, but you look like your in a great place now.

However, as I found to my own cost, you can never ever EVER get complacent. I went around 1000 days without a gamble and got into my head that I was "cured". I then did some stuff that took me too close to full-on gambling, and within the blink of an eye, I'm chasing loses again and within 3 months, and when I shook myself out, I'm another 13k down (on top of the already 35k CC debt).

Anyway, great work and long may it continue !

Day 413 just checking in to tell you all to have a lovely gamble free Christmas. Had a week away in the sun with the kids and had a wonderful time. Christmas shopping done just to worry about the massive food shop now! I love Christmas but I also enjoy when all the spending stops! I’m living proof that if you have the support of family or friends and the right barriers in place it really is pretty easy to get to 413 days and I can only advise based on my own experience....find the balls and tell someone....it will be awful but it will be worth it in the end trust me. I don’t know how many times I tried to stop through willpower alone it’s just not enough for most of us unfortunately. Merry Christmas xxx

Day 426... happy new year all... get those blocks in place, give up all access to credit and debit cards, confide in someone who can help you and have a gamble free 2018 🙂 xxx