D Day Tomorrow

[Al2304]

Hi

Sitting here tonight with D Day tomorrow my creditors meeting is at 11am on Thu 26/9.

Accrued 33K of debt in the last 15 year with consolidations and credit cards. Finally realised that I could no longer afford to live and applied for the IVA.

Been an up and down rollercoaster in the last month from having the bank account Ive had since age 16 suspended and closed to the letters for non payment as although had the debt never missed a payment.

Im down the road of no return now I just hope that my IVA goes through. I spoke to my IP rep today to advise that 3 of my creditors out of 10 had so far voted in favour of the IVA and the rest should be through tomorrow, but one had asked for it to be 6 year instead of 5, dont own a home so will find out tomorrow as he hopes to outvote with the others for 5 years.

Going to be a sleepless night, cant say how much this forum has helped me in the last month for advice, support, helping with the anxiety but also to know that if tomorrow is a go there is light at the end of
the tunnel.

Staying positive and fingers crossed for tomorrow.

Thank you to everyone who has posted on here as it really makes a difference to someone living it and going through the same thing.

Thanks

Alan

[Foggy]

Best of luck for tomorrow, Alan. Do let us know how you get on.

[luluj]

Fingers crossed for tomorrow x

[Shining]

All the best from me too x

[Wild Rose]

Good luck for tomorrow xx Its a strange feeling once you hear it's accepted! I hope the request for 6 years is out-voted

[clairemichelle]

Hi al2304
Just want to send you good luck for tomorrow.

Cm x

[brokebryn]

Rooting for you, Alan. Hope that it goes well and that you can feel the releif shortly after 11am.

[Struzzo39]

Any news?

[luluj]

Hoping all went ok ?

[Al2304]

Hi

Thanks for all the support its been a rollercoaster 24 hours

I was contacted at 11.15 to say my meeting was adjourned as the creditors wanted my pay slips for the last 12 month as my father took out a loan which I pay him for. They wanted proof that I received the loan and that I've been paying him back for.

I sent all this in and have received a call today to say that as he is getting 100% of the credit in my monthly payments the creditors want my iva to be 6 years.

No other option but to go for it so it's £420 for 51 month and then £616 for 21 months as they want they extra put into the iva at the end of paying my father works out at 77p/£1

Relieved its sorted bit sad as the loan was to try and sort it myself wished I did the iva then

Thanks for everyone's support

[Shining]

Not the result you wanted in respect of the time of the IVA but you're now protected from your creditors and you do have an end date. Remember we're here for support all the time so do keep in touch x

[brokebryn]

Agree with lesley. The creditors have the whip hand in all this and you cannot change that. On the bright side they are indeed off your back and the alternative was conceivably a whole lot worse. So congratulations on getting the proposal accepted, albeit with that modification, and the very best of luck on your journey to freedom from debt. Believe me, it's worth it.

[luluj]

Good news in the circumstances ... six years is not long and it will fly by ! Best wishes and remember we are here for you when you need us along your journey x

[Ftreal]

Glad to hear the IVA was accepted and although it is for the 6 years instead of 5, at least your father is not affected by it. Good luck with it all.

[wiggle1]

Glad to read your news and although 6 years seems a long time it will pass. And remember we are always here to help or just listen.