Unfortunately when I was with my husband we ran up a lot of debt due to his overspending and most of the debts were in my name due to his poor credit history.  When we divorced I was left with the responsibility for paying for these debts.  Going from a double income household to a single mother with one income and trying to keep up with all of the minimum monthly payments from all of the debts was just too hard and it was putting me in severe financial hardship.   I had to decide to feed myself and my daughter and to keep a roof over our heads rather than pay the monthly instalments on my many debts.  However, this only led to defaults and further charges which made the debts higher again.   This situation went on for two years.  I could not sleep wondering whether the next day would bring another lot of phone calls and demand letters through the letter box. 

Just by chance, I saw an advert for a Company offering IVA’s which looked professional but with a friendly attitude.   I decided to bite the bullet and phone them.  I was very nervous and anxious but speaking to someone about the problems I had made me feel at ease straight away.  They ran me through the whole range of debt consolidation they could help with and advised me of the best course of action for my circumstances.  I decided to go with an IVA. 

I honestly did not find there were any challenges when my IVA was set up.  It was so quick as well.  I found the setting up process a lot easier than I thought it would be.   My IVA Company went through my income and expenditure and a suitable monthly payment was calculated.  It was quite hard for the first couple of months knowing that I had to live within a budget and had to keep up the IVA payment but after the first two or three months, it was plain sailing.  I can now pay towards my debts and meet the day to day living expenses. 

I have now just finished the first year of my IVA.  I can now sleep at night knowing that I am paying towards my debts with no debt organisations phoning me or harassing letters coming through the letterbox.  I know that in another four years I will be debt free.  I am so much happier for sorting out an IVA and wish I had done it sooner rather than feeling depressed for two years.  There have been no problems with setting up and continuing the IVA and I continue to pay my monthly instalment.  Even though the IVA is up and running I know that if I had any questions then I could easily phone my IVA Company and they would assist me.

My advice to anyone in debt would be to not sit there and get depressed and struggle.  There is always someone there to listen to your problems and to help as much as they can.  I am so happy I got it sorted when I did.