Hi all,
I have my creditors meeting tomorrow at 3.30pm and I must say I am experiencing trepidation and excitment at the same time, obviously because there is either going to be a positive or negative outcome. I have looked at the income and expenditure and I really don't think that the IP has been stingey at all (in fact I am quite pleased with the money I have left after mortgages, bills and the iva payment) but then to actually have any money left for food, petrol etc is a bonus as for many months credit cards were used to pay for these. I haven't really had time to accumalate an emergency fund as from contacting the IP to the creditors meeting has been very fast paced.
I have read my proposal many many times so if I get a phone call to do with variations I will hopefuly be able to make an informed decision....instead of panicking and accepting anything to get it accepted. I think my offer is fair considering the creditors would have received no dividend if I had gone straight for bankruptcy.
I think I have come to some realization and acceptance of my financial mess and I am quite prepared for a negative outcome of the meeting and I will not be mortified at the prospect of BR its not like I have any equity from my house....there is the issue of the car but its only worth £5K and if they wanted me to change that for a car of a lower value then I will deal with that.
I know many of you have already done this part of the journey and I think its your postings of what your personal experience was like that has provided me with different case scenarios thus enabling me to be psychologically prepared as much as possible and for that I thank you all.
I know I am rambling but I needed to write my thinkings down for self confirmation of my thoughts and feelings.
I will post to let you all know the outcome as soon as I know, lets face it I have noone else to tell as it is a secret to all my family.........only my friend who shares the mortgage is aware.
We will all be thinking of you tomorrow, KLG, and do remember that you do not need to rush into agreeing modifications without thinking them through fully. Your IP can adjourn proceedings for up to 14 days to enable you to consider these matters, so do take advantage of that as many forum posters report that they felt pressurised to accept terms that they did not really understand the implications of on the day.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
