My IVA start to finish

debtdestroyer*

Hi all, I thought i' just post my story,

Basically i started my iva in march 2005, before i went into it i was paying about £400 a month in credit payments to over 10 different credit cards, loans, hpi, overdrafts etc. I wasn't on a particularly high wage, i worked part time as i had a 2 year to look after and had to pay half of all the house bills on a low wage. Anyway, i saw the advert on tv and signed up, i think i probably owed about 26 - 30,000, i'm not 100% sure, but i took the iva out over 5 years paying £235 back a month for the first 42 months then £335 for the remainder 18 months. I paid back 29p in the pound.
In July last year i became a single parent and struggled to make the payments and after speaking to a friend she offered to led me some money, the amount was £2500 which in October last year i then contacted dfd to offer them this amount, i was obviously aware that what i was offering was low, but i also explained to them that i could no longer afford the repayments and the next option after this would be bankruptcy.
I had to wait for 8 months for the creditors meeting, which seemed like forever but on the 17th may the meeting went ahead and they accepted my offer!:j. I was very shocked to say the least as i thought the amount would be too low, but also very pleased.

The feeling of no longer being in debt is brilliant, i went on holiday last month abroad and paid for it with my own money. It was a very hard 4 years and some months were easy and others not so easy.

I just wanted to say a big thanks to the regulars who post on these boards, coz if it wasn't for all the useful information they give, then i wouldn't haven't a clue about the other options out there.

Many Thanks.