Almost there with plucking up the courage

[scaredkez]

mike i think you have already received detention and a blot on your report, melanie go easy on him,lol
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[mike.s]

uhhh ohhh!! What have I done now!!
What I meant was Melanie reminded me of my old Head Mistress I didn't mean Melanie looks old. It is just a figure of speech 'that's my old teacher' as in the past kinda thing. 43 last week? surely not I would have said no more that 21, 22 maybe. Ohh God think I'll slope off to the market now, the whole I've dug is plenty big enough now!!
Cheers guys, speak again soon
Mike

[Shining]

Mike, I have bad days, some worse than others but since speaking with Melanie on the phone this week (and i will admit I was dreading it), I've felt calmer, Melanie has a calming influence, wont' promise you the earth to make you feel better, her facts are great. Since I've spoken to her, I've begun to compile a list of questions that I have and will ask her or one her team when I have a few rather than bother them on a daily basis, although I'm sure they wouldn't mind, from reading the forum some of my questions are answered without having to ring. It's a scary time for all I think and when you feel you're the only one on this journey or the only one ever to have taken this journey, it's so nice to meet people on the others side of the journey and some that are travelling along beside you. Not sure how I would cope without this forum, definately keeps me sane and my emotions in perspective.

[MelanieGiles]

Mike - I knew what you meant, but you did make me giggle on a bad night! Look forward to meeting you asap - make sure you have those trading figures available so we can have a good meeting.

Isthereanend - you phone us six times a day if you need to. I am very conscious that we do this work all of the time, but for you it is only once. That is what we are here for, and you can also e-mail us as well.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[mike.s]

Hey guys,
How is everyone today? Really, really bad day on the market today! Lost money! May as well have just stayed at home and got the garden straight and just gave the stock away! Thank you all so much for the ideas on moving the business forward, much, food for thought! Thank you.
isthereanend: I know exactly what you mean, very scary time, and those questions just keep flowing, one minute I feel great and very positive, the next minute down and the doubts creep back in. I am taking each day at a time at the moment and facing each thing as it hits, rather than trying to sort everything out in my mind in one go. One thing I can say is that this forum has helped so much, I can't believe how far I have come in just a week! Even the very bad days don't seem as bad now I have this forum to turn to, keeping me going 100%!
Thanks Melanie, very much looking forward to meeting you now, hoping to have all the paperwork sorted soon!
Although guys (don't tell Melanie) but I now have this image of her wearing a school mistress outfit, you know, mortar board, black cape thingy, like Sting wore in the Police video for 'Don't Stand So Close To Me' bending a cane as I walk in for our meeting. Although this image is much nicer than the last one of Jamie from Leybridge chasing after me in a dress trying to get hold of me! Sorry Jamie!
Best go now b4 this hole I'm digging gets even bigger!!
Thanks for being there guys
Best wishes
Mike

[mike.s]

Hi guys,
Sitting down now to sort out my paperwork, the panic is starting to set in again and the questions are starting to swim around in my head once more.
Can anyone help with this:
As I don't have proper accounts for my business (very small business, I only submit three line tax return) and I need to have last two years accounts and a projection for my IVA meeting, would it be better if I went to see an accountant and ask them to sort it for me as I don't really know how to sort my records out into what would be deemed as proper accounts. I have my figures, just don't know what to do with them. Also does anyone know what an accountant might charge for this.
Also things haven't been great lately and I have a feeling that we wont have enough money coming in to go for the IVA option, although we are looking at the F/F option we still have so show we have enough money coming in. My wife is desperately looking for a job and has been over the last week but we need to be showing enough income now, and as I say I think there may be a shortfall with the busienss income. So accountant or not, that is the question. Obviously the only other option would be to throw the towel in with the business and go bankrupt, get a job and try to rebuild from there.
The other thing is we have the house sale going through, do we have to tell the buyers and solicitors that I am looking at an IVA or the possibility of bankruptcy?
Thanks everyone I have a feeling this is going to be a long day, with plenty more panic and questions.
Cheers
Mike

[Adam Davies]

Hi Mike
You do not have to tell the buyers or solicitors anything at this stage.An accountant will charge several hundred pounds for producing accounts etc.I wouldn't spend that sort of money,surely your own paperwork and figures will be enough,however Melanie will guide you and give you a honest appraisal of your situation.
Regards


Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Adam Davies]

Mike
Just one other thing have you thought of having your stall outside a large supermarket/superstore when you are not on the market ?
I used to manage a large superstore and often allowed single stalls outside,as long as they did not conflict with our own business.
Regards


Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[mike.s]

Thanks Andy,
I guess I'm just starting to panic over it all again. Feel sick with worry, today. One of my credit card statements has just dropped through the door. With the payment missed for this month and the next payment for next month (they have added this on now even though it's not due yet) it has put me over my credit limit with two lots of fees now added. Feel very, very sick and scared.
Mike

[Adam Davies]

Hi
We have all felt like that,believe me.I remember feeing like a failure but unless you make up you mind and do something about it then it will never get any better.You are making that move and once you meet Melanie you will come away feeling confident and sure of your actions.
It will get better

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[mike.s]

Sorry correction to last posting, it isn't they have added next months payment on (although they now want two payments), it's the interest that has took me £56 over my limit, now have late fee and over limit fee added. With this card now over the limit does that make a difference to anything, is it now worse than I thought? Feeling really bad right now, don't know whether to just file for BR and put an end to it. I can't take much more, and can't put my family through any more.
Mike

[Adam Davies]

Mike
It will make no difference,there are hundreds of thousands of people who go over their limit each month.
Stick with your meeting with Melanie,when is it ?
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[mike.s]

Thanks Andy,
Just having a bad day where everything seems so desperate, normally only get this feeling when I wake up at 3am! Date not set with Melanie yet. I've got a day off today so trying to get all the paperwork together Tina has asked for. Although I can't open the Authority To Act file and have asked Tina if she could re-send but haven't heard back yet. I panicked over the accounts because I only keep a very basic record of in's and out's (I'm not very good with paperwork) but Tina has asked for two years accounts and a projection for this or is it next year? Wouldn't even know how to do this myself which is why I thought it might be best to get an accountant to sort it for me into some sort of proper accounts to give Melanie. I think everything just got bad from there and the panic set in. Thanks for your help and time Andy, very much appreciated
Cheers
Mike

[Adam Davies]

Mike
You have records of your turnover for the past year,add all this up.Then list your business expenses[cost of stock,pitch,petrol etc etc]What is left is your gross income,allow 25% for tax and NI.The balance is your annual net profit,income.You can then project this for the next year depending on how you have been trading over the last twelve months,if your turnover is reduing each month then you would project a decrease unless you are planning on opening another site or reduing your costs.If turnover is stagnant then you would project the same unless you had plans to open more sites etc etc and finally if turnover was growing steadily then you would project this growth into your forcast for the year.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[mike.s]

Thanks Andy,
That makes sense, thank you for your help and support, very much appreciated. Angela from Melanies team has been in touch today and sent me the Authority to Act form, which I can get in the post today, so things are moving. I think everything just got on top of me this morning and I felt very down, but feeling much better now, will get on with everything this afternoon. Thanks for being there.
cheers
Mike