Feeling really low today

[natalie.b]

I am still considering an IVA. I have found this forum excellent but I am having a bad day, worrying about paying for the car insurance. This process really is scaring me today and I am still not sure whether I am doing the right thing. My family are very supportive and I am finding it easier to discuss things with them. I am concerned that I might have to stop paying into my pension for 5 years. Is this usually the case? What happens if my car breaks down and it needs repairing. I am sitting here not knowing where to turn or what to do. So many questions I need answered. I think I need to write them down when I think of them, as my mind goes blank.
Thanks for listening to the ramblings of a crazy person!!

[Welsh Boy]

Natalie

What you are experiencing at the moment is vey normal and not the ramblings of a crazy person as you put it. Last week was debt awareness week and there were some excellent contributions, picking up on a point made by Neil Hamilton he talked about turning negative situations into positive ones, Natalie working on that basis here is where you are in fact very very fortunate. Let me explain, we are in the present situations in our lives through events that in some ways were out of our control i.e. relationship breakdown, loss of our job, illness etc, to combat that in other ways we are in situations where we have made bad judgements and decisions. The point I am making is we are where we are and you can`t change the past but deal with what`s in front of us. To get to the point of being fortunate well what I mean is this, you have come accross this site that is offering excellent advice by professionally qualified individuals who willingly give their time over to advising and helping others. The contributors have all the experience and knowledge Natalie and others who may be reading this to give you the best advice but it is so important that you get the right people on board working for you and advising you. Another example I switch on the TV and there are so many companies offering the solutions to all the debt problems that we may have in many instances go back a couple of years and I have never personally heard of them and I have worked in this industry for many years, now don`t get me wrong there may be some good people out there but it begs the question why have they all suddenly appeared. If it were me getting the best advice would be the most important thing , utilising the knowledge of the experienced professionals here and have them on your side working with you. You can`t change the past but you can rest easy knowing you`ll get the best advice for the future and dealing with the here and now correctly is imperative. After all if I were stuck on a desert island I would hope Ray Mears (survival expert) would be there to build a wonderful des res and knock up a la carte meals from some bamboo and a couple of leaves rather than somebody who had only been around a tomato season and picked up a book on best edible funghi from the local library 2 weeks ago! What I am fundamentally saying is that from here on in we are lucky and by working with the people who are experienced and knowledgable we can`t go far wrong.

[freelili]

Natalie

Just wanted to say that the feelings you are having are OK, there is no point in jumping into an IVA without careful consideration. It is a stressful time, not knowing which way to turn, wondering if you are doing the right thing, but its a good attitude to have. You have come so far already making a decision to deal with your debt. Its OK to have a bad day, we all do, but you will get past it and move on to better times. Not only do you have the support from your family you also have the support of everyone here, its OK to have a rant with people who know only too well how you feel. Dont worry about feeling crazy either, I have got from normal to full nervous breakdown to recovery in just under 2 hours, this happens at least once per week.

Good luck and please ask away

LILY

[neverending]

Hi
Ask as many questions as you need to.It is best to fully understand the "ins" and "outs" of the IVA.Also take time in choosing a company to arrange your IVA and I would advise speaking to two/three different companies before starting the ball rolling.
With regard to your car insurance you will have this monthly cost allowed in your expenditure once in an IVA and you will almost certainly be allowed a monthly amount for car repairs etc.
Good luck

[MelanieGiles]

Hi Natalie

It will depend to a certain extent upon your age, with regard to your query about pension contributions. If you are a youngster in your early twenties, then you will probably be asked to park your pension contributions for the duration of the IVA, on the basis that you have plenty of time to make them up in the future once it has concluded. If you are in your late forties, I would certainly argue the point that a suspension of payments would affect your future and is therefore unfair.

With regard to your car expenditure, I suggest that you start paying your insurance on a monthly basis before entering into your IVA, so the insurance company are familiar with this. You should be allowed a sum of approximately £35 to cover ongoing car maintenance, and should discuss this with your IP. This money should be set aside each month - try opening a savings account with your bank - and it will therefore be available when you need it.

The thoughts and doubts you are having are perfectly normal and at the end of the day it is a very important decision to make. Living through an IVA is never easy, and you must be absolutely sure it is the right decision for you before signing up. Keep posting your queries, as they are also helping our other forum members as well.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[sps]

Hi Natalie
Just wanted to say I feel exactly like you. Having finally decided we have to face up to our debts it is all I can think about and I find some days I feel quite positive and others I just want to hide away from it all. But like it has been said before facing up to things is the hardest part and at least we are trying to do something instead of getting deeper and deeper in debt. This site has been so helpful and the people on here seem very supportive so I am reading as much as I can about everything. I know there is a long way to go but it's nice to know we are not alone. All the best to you.
Sue