End of IPA - Thanks & merry christmas to all!

NekoZombie

Hi Everyone :wave:

I'm an old member of the board - not so active these days but I thought I'd pop along to say hi and share a quick update.

I went bankrupt in March 2007. At the time, I was tussling with whether to go for an IVA, or take the plunge and risk bankruptcy to the tune of 37k. I came on to the boards in Feb, asking for advice. I'd never been so worried in all my life! I’d stopped reading my bills and was avoiding the phone. Talk about ‘head in the sand’!

Thanks to all the help on here, I quickly came to the decision that bankruptcy was the only way out. I opened a new account with co-op in the same month, and started the painful process of getting used to no credit.

December 2010, due to a change in circumstances, I had an IPA imposed. £79 pcm, for three years. Fair enough, really.

I got early discharge in January 2008.
I've just made the final payment to my IPA. :j

I'm still paying my student loan off at £160 pcm, but as that was included in the SOA, it's hardly an inconvenience.

The final hurdle is the bankruptcy falling off my credit file in 2013.

So much of what we do is dictated by society, and I was initially very scared of what people might think of me. For anyone wondering whether to take the scary step towards BR, I would say this: as long as you go into it with your eyes open, it's the best solution for a debt situation that has got out of control. I leaned very heavily on the guys on this board while I went through the process, and I can say that having this forum made the whole thing bearable. Yes, it has adversely affected my credit rating, but that would have happened anyway because the situation was no longer manageable. I would almost certainly have defaulted.

In the time I’ve been BR, I’ve learned to simplify my life by being frugal, spending my money where it really matters. To some extent I am grateful the process was such a difficult, steep learning curve; I would never have learned how to effectively manage my budget, and plan for regular expenditure like birthdays, Christmas and the odd holiday if it had it been easy. Don’t get me wrong, I still make financial mistakes (after all we’re all human!), but never to the same magnitude.

Planning ahead takes a bit of getting used to, but I’m glad I learned these lessons in the company of some amazingly supportive folk on the BR boards.

So here’s to all BRs, old and new. Together, we’re a fantastic bunch! Merry Christmas all!

Neko x

now

NekoZombie wrote: »

Hi Everyone :wave:

I'm an old member of the board - not so active these days but I thought I'd pop along to say hi and share a quick update.

I went bankrupt in March 2007. At the time, I was tussling with whether to go for an IVA, or take the plunge and risk bankruptcy to the tune of 37k. I came on to the boards in Feb, asking for advice. I'd never been so worried in all my life! I’d stopped reading my bills and was avoiding the phone. Talk about ‘head in the sand’!

Thanks to all the help on here, I quickly came to the decision that bankruptcy was the only way out. I opened a new account with co-op in the same month, and started the painful process of getting used to no credit.

December 2010, due to a change in circumstances, I had an IPA imposed. £79 pcm, for three years. Fair enough, really.

I got early discharge in January 2008.
I've just made the final payment to my IPA. :j

I'm still paying my student loan off at £160 pcm, but as that was included in the SOA, it's hardly an inconvenience.

The final hurdle is the bankruptcy falling off my credit file in 2013.

So much of what we do is dictated by society, and I was initially very scared of what people might think of me. For anyone wondering whether to take the scary step towards BR, I would say this: as long as you go into it with your eyes open, it's the best solution for a debt situation that has got out of control. I leaned very heavily on the guys on this board while I went through the process, and I can say that having this forum made the whole thing bearable. Yes, it has adversely affected my credit rating, but that would have happened anyway because the situation was no longer manageable. I would almost certainly have defaulted.

In the time I’ve been BR, I’ve learned to simplify my life by being frugal, spending my money where it really matters. To some extent I am grateful the process was such a difficult, steep learning curve; I would never have learned how to effectively manage my budget, and plan for regular expenditure like birthdays, Christmas and the odd holiday if it had it been easy. Don’t get me wrong, I still make financial mistakes (after all we’re all human!), but never to the same magnitude.

Planning ahead takes a bit of getting used to, but I’m glad I learned these lessons in the company of some amazingly supportive folk on the BR boards.

So here’s to all BRs, old and new. Together, we’re a fantastic bunch! Merry Christmas all!

Neko x

Thank you and all the very best for the reat of your life xx I too would not have found things so easy if it had not have been for the BR board and all the friends I have found on here, the PM's when I was low really helped me through, I did not get an IPA as our income is to low but i would have happily paid it just for the peace of mind in not getting phone calls at all hours xx Merry Christams everybody laet all look forward not back :j:j:xmassign::xmassign::xmassign::xmassign::santa2::santa2::santa2::santa2::santa2:

confused76

hi Neko
thanks so much for popping by...i'm very pleased to hear the IPA is over for you! sounds very much like you have moved forward and have things under control. have a lovely Christmas and 2011

:xmassign::xmastree:

dojoman

Great post NZ, all the best for the future and have a great christmas:T:T:T

tigerfeet2006

Good to see you Neko . So pleased that you are through it all now and have come through stronger.

Hope you have a fantastic Christmas.

sugarbabe-47

Hi Neko - :hello:
Well said :T
Glad you came through a difficult time and I hope you have a peaceful, debt free christmas too

Take care
Sugar xx:)

IF

Hi Neko, Thanks for your post......it really does help others to know that there is light at the end of the tunnel. Merry christmas and here's to a happy 2011 :beer:

Best wishes
If...x