Almost there with plucking up the courage

[MelanieGiles]

Hi Mike

Glad my ladies are looking after you! Don't lose too much sleep over the figures, or waste money on employing an accountant at this stage, just bring the records with you and we can work on the financial projections together.

See you soon!

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]

Thanks Melanie,
Huge relief! I was really worried about this, I want to have everything as straight as possible, as I don't want to waste anyone's time. Really just felt like giving up this morning, it all seemed such a mess, but feel much better now and feel it is coming together again. Thanks for all your help and support.
Best wishes
Mike

[mike.s]

Hi guys,
Wondered if anyone could help me with this, as it is really worrying me and I'm getting more confused with it by the minute and not sure what to do. Hoping to do an F/F as the sale of the house looks like it going through smoothly up to now (touch wood) All of my debt is in my name and the IVA will be just in my name. I know I have to open a new bank account (basic with no credit facilities) just in my name, which I have done without any problems with the co-op (very nice people and very helpful). At the moment My wife and I have a joint account with the alliance and leicester, but I have a credit card with A&L (just in my name) so I cannot keep this acount in my name. I was under the impression that I could simply remove my name from the account and leave it just in my wife's name. I have contacted the bank (haven't told them I am looking at an IVA and they didn't ask) and they said no problem and have sent a form out which simply needs my signiture to remove my name from the account and my wife's signiture to keep it on in just her name. I was hoping to leave all the direct debits, mortgage etc, on this account, and leave the tax credits etc being paid into this account, and I would also pay money in from my takings to cover payments going out. Have I got the wrong end of the stick? Is it not as easy as this? If not what do we need to do? Will we have to close the account completely and my wife open her own account. Which account would all the payments be made into and direct debits etc go out of? Very confused any advice greatly appreciated.
Best wishes
Mike

[catullus]

Hello Mike

There is a very small risk that A&L could still seek to set of the bank account against the credit card debt, even after you had taken your name of the account.

The argument would be that some of YOUR money was still in it and they were applying set off but I doubt that A&L would be sharp enough to do that and obviously that argument diminishes in strength the lomger time is allowed to pass because none of your money will be coming in to the account.

I stress that this is more a theoretical possibilty than a practical reality so I suppose it boils down to how lucky you feel.

Glad to hear that the IVA seems to be coming together.

[Soulgrowth]

Hi Mike

Glad to see the thread is still going and that the finacial issues are becoming more crytalised for you as each day passes.

Sorry not to have been around for a few days folks ... I have been drowning under a huge pile of psychology exam papers to mark ... now I have a migraine and am determined to have an early night [:)]

Hope everyone else is well

Debbie

www.babynamings.co.uk

www.soulgrowth.co.uk

[mike.s]

Hi Catullus,
Nice to hear from you, how are things going? What you say makes sense, thanks. Just not sure what to do. Really hoped it would be just a case of taking my name off, boy nothings every easy is it? As you say how lucky do I feel?
I know what you're thinking. "Did he fire six shots or only five?" Well, to tell you the truth, in all this excitement I kinda lost track myself, but as this is a 44 Magnum, the most powerful handgun in the world, and would blow your head clean off, you've got to ask yourself a question, Do I feel lucky? Well, do ya, punk? Lol.
Hey Debbie nice to hear from you good luck with those exam papers, and even better luck with that early night. I keep saying that every night but it never seems to happen.
Best wishes
Mike

[mikebdomain]

Hi Mike I just wanted to say how good it is to hear you are getting things slowly sorted - bet your glad you made those phone calls now..

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[mike.s]

Thanks Mike,
You have no idea how glad I am!! Anyone out there scared to make those calls, don't be, the best thing I have ever done, and you know what? It was no-where near as bad as I thought. Thank you to everyone on this forum, you have turned my life around.
Hey Mike, how's Jamie? Tell him I was asking after him, and you never know once this is sorted I could soon be chasing him! although without the skirt! Lol.
Best wishes
MikeS

[emma_t]

Hi Mike

It is so nice to hear you sounding positive and upbeat about everything.....considering a short while ago you were scared to confront he issue with phone calls, etc
I am glad things seem to be comming together for you, this forum is such a great place with support and getting questions answered and it seems to have helped you greatly.
Good luck with your house sale and everything else
Emma x

[mike.s]

Thanks Emma,
Feeling up one minute and very down the next, but miles better than I did a couple of weeks ago, thanks to this forum. Trying to stay very positive and determined to sort it all out so I can start living again with my family without this unbearable stress. Thanks again.
best wishes
Mike

[emma_t]

I think we are both in safe hands with Melanie and her team and back up your comments earlier in this post about how good Tina and Angela are and how professional they handle every query, question, etc...however small.
i have my creditors meeting on 5th November.....starting to get really nervous now but hoping to be able to let off some fireworks (cheap ones!!!) that night...
Hoping it wil be 'remember, remember the 5th November' for all the right reasons (or whatever that saying is...LOL)
Good Luck with your meeting with Melanie...sounds like you have all kinds of visions in your head.....Lol

[maxdebt]

Good luck for the fifth of November Emma I will think positively for you. Melanie and her team got me through it and I am sure they will do the same for you. The thing with Melanie is she puts forward a proposal which your creditors can clearly see is realistic and affordable.

[Skippy]

Glad to hear you sounding so positive Mike - I can't believe the change in you since your first posts.

Good luck for the 5th Emma x

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[mike.s]

Thanks guys, got to say I am feeling much better and I too can't believe how far I have come in such a very short space of time, I feel like a different person. It is amazing how much it changes your outlook when you actually take your head out of the sand and start facing reality for the first time in many years. And with all the help from everyone on this forum, things really just don't seem as bad. There really does seem light at the end of the tunnel, and I want so much to stay positive and sort this out so I can finally get this tremendous burden off my back. Strange I used to turn to my flexible friends for help, now they are firmly the enemy and I so want them gone, they will never ruin my life again that's for sure.
Good luck for the 5th Emma, I will be thinking of you and will have my fingers crossed for you.
Cheers guys
Mike

[Rainbow]

Mike it is wonderful to have followed your journey and we are all here to support when you have some down days again. Well done YOU are now in control of the enemy!!!

Best of luck Emma for the 5th
Rainbow

Every Cloud has a silver lining. At the end of the Rainbow is a Pot of Gold - Or Hope!