Relief at last. Iva accepted.

mumsarethebest

we had our creditors meeting at 10.15 this morning. At 10.45 I found out it had been accepted. So relieved.
Our biggest creditor was Natwest with £25000 and they said yes straight away. The only modification is Debt free directs fees but that doesnt affect us.
I only wish I had known about IVAs last year as it would have saved us a year of heartache.
Stupidly when our debt started escalating we took advice from Natwest and took a consolidation loan through them. But with the repayments for the loan and constant overdraft fees and interest it was crippling us. We did try to negotiate with them but no joy. As our bank account was with them they took their payment and fees as a priority and often left other bills unpaid. This then resulted in unpaid direct debits and more fees.
Am now off to have a calmimg cup of tea as have been on tenderhooks all morning thinking it would fail.
I would like to thank all the contributors on this board as have lurked for a while and from here was refered to iva.com. Thank You All.

debtfree2016

hi there

i have replied on my thread.... but great news... i think you have to have the heartache to really understand and appreciate the IVA... good luck for the future

mumsarethebest

Well my euphoria didnt last long. Just checked online banking to find that my gas bill has increased from £56 to £81!!!! Contacted British Gas who said they sent a letter 2 days ago to warn me!!! Apparently they did a review and I am £200 in debit but always am this time of year but it always evens out. They will review again in 3 months. And I am supposedly on their lowest Web tariff.
Deep breath I WILL BE debtfree in 60 months.

FoggyBrain_2

Congratulations on the acceptance. :-)

As for the leccie -- our supplier did the same, based on our usage over that really cold winter. Have thought about changing supplier, but they are all as bad as each other these days! ( and they might run a credit check !!! )

MrsB2100

Congratulations! I know that feeling of relief ... in 60 months it'll all be over! And now finally, you know exactly what you have to budget with! We were accepted last week, and now I can sleep!

mumsarethebest

I am so looking forward to knowing exactly what is coming out of my account and being able to budget. No more stupid fees and charges on charges. No more threatening telephone calls from overseas call centres. Even yesterday they were ringing!!! The "Nigel" on the phone told me it was in the best interest of the IVA to be seen as cooperating. Am afraid was a tad impolite and basically told him that if he rang me again I'd rip his head off. He said he couldnt help me if I cotinued to be abusive. At which I laughed and said "you called me to harass me, have a nice day" and then hung up.

Come_on_u_blues

Hi mumsarethebest congs on the iva.We're with natwest too the same story a consolidation loan and bank with them making them are biggest creditor and like you wished we had done it sooner.So fingers crossed hope they say yes to us too.Good luck for the future hope it all go's well for you.

sososilly

Really pleased for you mumsarethebest (which they are of course).:T
So who's meeting is next? Debtfree2016 is it yours on 7 July?? I'm following you all each step of they way!

debtfree2016

Hi sososilly

Yes ours is booked for the 7th July, had a letter from one of our biggest creditors who acknowledged we were entering an IVA... which was good... just over a week to wait.

Max_Maxwell

Although being in an IVA is no walk in the park, it's certainly a whole lot easier than being in the place you were before.

It means tight budgets and next to no entertainment but at least you can get by without stress and worry.

Good luck.

mum2one

hope you don't mind me butting in on your thread,just noticed you have started an IVA, its going to look like an IVA is my only option, sorry to ask but how ,ong did it take from the initial rnquiry to getting the yes you have the IVA. ?