1st monthly contribution paid.

cutemum

Thanks to the advice that has been given to me this forum, it really has been a lifeline. :T

I made my first payment and I feel good. My circumstances have changed already as I posted before. But for now I can pay what was agreed as my partner remains in our home and is therefore making contributions towards the bills. I am unsure of how this arrangement will/ can go on but for now I am dealing with the present and trying not to worry about the future. When things change I will try for a variation.

1 down 59 to go. Feels good that things are moving.

Thanks

FoggyBrain_2

Good feeling isn't it Cutemum ? At least you have a bit of breathing space and will be better able to deal with future changes without the hassle that creditors and debt can heap upon you. Best of luck.

cutemum

Thanks. I was just looking at when I joined this forum and it was 2 1/2 years ago. I knew I was in a bit of a pickle then but I struggled on robbing Peter to pay Paul and using credit to survive. I only wish I acted then and I would be half way through the IVA by now. Never mind- no time for regrets. I would just like anyone in the same position to act now rather than waiting and getting into more debt. It is such a relief to get things sorted. i only hope this will help others.:)

danp100

Hi, first of all well done. I am in the process of trying to sort out an IVA, although going through a dmp first, its complicated. I was wondering if you dont mind me asking, if you own a property and if this is being affected with your IVA?
cheers
dan

cutemum

Hi Danp100,

I do own a property but as it is in negative equity there is nothing to do with my home at present. I do believe if I was to sell (wishful thinking) and I made a profit I would have to declare it and my creditors would be entitled to their stake. I have also heard that in the 4th year of my IVA I can be asked to release equity- however obviously that is if you are able to remortgage to release funds to contribute- which is unlikely if still in negative equity. Come to think about it I must check my IVA as my IP has not mentioned this since my initial meeting.

any other questions just ask. this site is really great for getting your mind settled and any questions answered.:)