Facing upto it

[Veryashamed]

This is my first post and I feel very ashamed and embarrased but I have faced up to the fact I have mega debt and I need to take action now to get out of it. Yesterday myself and my husband discussed it and as he is a police officer we need to get an IVA. I feel my own debts (he does not have too much) are too severe and I would probably be better going bankrupt but I cannot in anyway jeopodise our house or his career. We have no equity in our house which makes matters worse.

I have looked on here and it worries me I have much much higher debt than everyone else.

[john.jk]

We have all been there ? Now is the time time to get some advice. We had very high debts 100K PLUS... THATS what i call high and we had very little money in our house... We dealt with Melanie Giles who you can contact via this site and i am pleased to say we had our IVA approved
and i am sure your husbands Career will not be affected unless he tells them he has done an IVA ? Thats probally a question for one of the experts
Good luck x

[MelanieGiles]

Hi there - there is no place for being ashamed on this site!! This site is to help you find a solution and no-one here will judge you.

I act for a lot of police officers who decide to plump for an IVA to help them with financial difficulties, but the police forces generally are also becoming more and more amenable to bankruptcy proceedings as well - but of course that woudl affect your house.

Don't worry about the levels of debt you have - I am sure a solution can be found, but you would be wise to have a chat with an insolvency practitioner at an early juncture to find out exactly what options you do have.

[Veryashamed]

Thanks Melanie, I have completed a website form for you before I posted.
If there is no equity in a house do you still have to sell?
What I am most ashamed of is that I got into debt so easily and wanted to get it cleared myself but it spiralled out of control and I ended up borrowing more to pay other debts still thinking I would somehow get it cleared myself.
I worked out we have approx £1000 disposable income is this anygood for an IVA?<center></center>

[Viki.W]

Hey veryashamed, you're going to have to change your user name because as Melanie says, you don't have to feel ashamed or embarrased at all. You're doing something positive about your situation, you should be proud. Welcome to the forum and I hope you keep posting so we can all support you.[:)] X

[moretolife]

hi VA....thank goodness you posted...life can only get better now you have taken the first step...well done.
we can all identify with your feelings...read some of the blogs which will let you into all our little secrets..LOL..

hope you keep us informed...take care

[Lisa2009]

Welcome to the forum. The 1st thing you will learn from other forum members is NOT to be ashamed.
You should be proud that you are facing up to things and taking steps to get them dealt with.

You will find no better than Melanie if you want proffessionalism(if thats even a word) and honesty.

She is extremely caring and non-judgemental.

Good luck in your journey xxxxxx

[MelanieGiles]

You will not have to sell your house at all under the IVA, and £1,000 per month would appear to be a reasonable contribution, but it will of course depend upon how much you owe.

You have taken the first step now, so the hard bit is done - and on this forum you are amongst the best group of people who will want to help you and support you all the way. Please keep posting to share your experiences with others.

[plasticdaft]

Veryashamed,you need to get yourself a new name,because debt is collected for a number of reason,often that we think we are in control of,but hey presto,actually its the debt controlling us. Nothing to be ashamed of,you arent a mass murderer/rapist/child molester. You are a good person who got into debt,and you are making progress in sorting it all out.

Good luck in your journey.

Paul

[tori]

hi there & welcome from me too.as others have said you will get loads of help & support on here as we have all been in similar positions.i was totally & utterly ashamed for the best part of ten yrs which resulted in my debts escalating to a huge amount,as i was far too embarassed to tell anyone or ask for help.but you have definitely got the hard part over with now & you will soon be on your way to getting things sorted out.good luck with everything.you will be in very safe hands with melanie's team[:)]x

[Abby]

welcome from me to, i decided to take the bull by the horns so to speak and was offered various solutions, opted for one but then found this forum ! for me a life saver HOPEFULLY.not been accepted yet, but the sound advice and just the encouragement and feeling of you are not on your own is a god send and i thank every one for that and i would encourage you to get in touch with melanie and her team , they are lovely people and dont judge you x good luck

[Veryashamed]

thank you everyone it is refreshing to see I am not alone and you have all made me feel better. I spoke with Melanies team this morning and I am feeling alot more positive. My worry was speaking to someone and them judging and making me feel stupid which is why I never sought help sooner thinking it would sort itself out thus getting in more and more debt. I am glad I have taken the first step now.

[plasticdaft]

WE have all been in the same boat,that 1st time you open yourself up to someone when explaining your debt to them. I choose to talk to a complete stranger in our local CAB office,and it was such a huge relief to just share my debt worries with someone.

[plasticdaft]

forgot to add that the woman in the citizens advice bureau's only fault was having to turn the page over when writing down all our creditors!!! I did warn her she may run out of ink!!!