Advice for Ox

[josu]

Nothing to do with your debts should be disastrous for your family Ox, you are not in a bad enough situation you are really not and i honestly do not believe that you are a candidate for BR. In fact i think it would be sort of wrong if you went BR as you have a well paid job, relatively low debts and 10k to play with. If people in your position were going BR it would be a real problem, everyone would be at it. The IVA is a great 'safety net' and you will always have advice when things change. I would not in a million years be considering BR even if you couldnt get an IVA (i strongly believe you will though) my last option if i were you would be a long DMP after using the 10k to wipe some of the debt, get myself back on top and in a better place mentally and then look at upping the payment to the DMP therefore shortening the term once your wife is working. Its certainly not as good as an IVA but with a good company dealing with it for you it can still work well. There is absolutely no reason why BR should even be in your mind. I never even considered it and our debts were higher than our joint monthly income, i have two children under five and a mortgage.

[footiemad]

Financial Services Ox x

[Ox1987]

Im an management accountant, so IVA is ok for you also
I have asked CIMA and they seem ok with both and say it should not affect career but not convinced that BR will be ok with employers and future employers. IVA is ok here but still a bit concerned regarding future potential employers, but i suppose if I can make this job last 6 years it would then be off the record

[Ox1987]

I have got to survive this I know now strangely today I have felt alot calmer but I am concerned our offer is too low after fees I am sure it will be around 16-18p but I have to have faith that it will be ok as they would get nothing otherwise

[Foggy]

Ox, I have seen dividends on "normal" debt levels as low as 9 pence accepted ---- Mel has had much larger debts settled at, I believe, 2 p in the £.

[Ox1987]

But is ours a normal level or different

I need this to work

[Foggy]

Normal. Ox

[abbiesmum2003]

Ox it doesnt matter whether 'normal' level ornit its an Individual arrangement so its what your disposable income is and thats going to vary for all of us. We owed nearly 50k! Joint income much less than that..3 kids, mortgage and ridiculous childcare in order for me to work. Its based on your costs. If thats what Mels team believe will be accepted then trust them. Your budget looks very fair. You will be fine. If BR would be completely end of the world then stop thinking it and concentrate on making iva the positive escape from debt! you dont owe that much, youve got probably the highest earnings out of everyone on this forum and a 10k cheque available! I wish i was in your position!! Forget the BR... like someone said theres no indication for it...youve got money available to repay a proportion of your debts and still have a comfortable lifestyle.

[Ox1987]

I think things are getting better in the head as I feel very calm this evening and more focussed and functional than I have for a while. I helped out at Cubs which was good they went to a driving range very funny seeing eight years trying to hit the balls I got to hit a few been a while since ive done that

[abbiesmum2003]

thats great ox! keep at it

[Ox1987]

Even now I am getting back into some of my own old video games cheap entertainment I used to lose myself for hours in these
Ebay today topped 200 pound net of fees
I will survive and keep my house and job

[luluj]

You will Ox....tip from me ...don't sell everything on ebay at once ....do it in small chunks that way you will have pockets of extra money more frequently

[Hyperdrive]

Hi Ox, which old games? Do you go as far back as the Megadrive? I vividly remember getting my first games console for Christmas - it was called Grandstand and you could play tennis on the TV. Like a white dot moving across the screen between two white oblong bats. That was it but it was so cool then!
My youngest son took some photos of my head on Sunday and he`s now constructing a model of it on his pc.
Thats progess !!

[abbiesmum2003]

I remember that hyperdrive! sounds effects consisting of a simple beep beep beep!! excellent!

[Ox1987]

Odd had a great nights sleep after a calm night but now have some worries again maybe silly ones and actually ones that everyone could have but maybe my mental state is bad that it worries me more than the normal person.

These are two things really and are about surviving long term:

1) Are we going to be able to withstand any rises in cost of living or the inevitable interest rate rises
2) Has the house become a millstone around our necks, and will the prices rise again to get us back into positive territory so possibly we could sell without a shortfall. Though would we get a rental with our credit score. Strange I never used to think like this and I have mates with bigger mortgages and they don't worry.
3) Car - even if i keep the lease one for now when it runs out, how will i buy a banger in the future.

I sometimes feel now that we can get through with the IVA but ultimately will something get us in the end maybe i am just fearing too much and other people without debts share these fears. I have been told by other here to not be stupid as I have a good salary, low debts in comparison and 10k, which is true but I fear the worse ultimately.

Wife and kids seem so happy and I am not, this is tearing me apart as I want nothing bad to happen to my family it worries me sick that something will. They are too young to have their life their ruined in fact as am I

I just seem to have so many doubts that we can survive long term am i being stupid or is this natural to worry. Maybe I have bigger problem not related to the debts we are working on on the mental front especially