help i think ive made a big mistake

[rockbottom]

hi everyone im a newbe
to cut a long story shortish, i could see our financial situation crumbling so b4 getting a bad credit rating i decided to remortgage to try and clear the debts we could no longer afford to pay, in a panic i paid my halifax loan, cc and overdraft because i bank with them and paid my brother back money i owed him, then contacted a firm for advice and was told i couldnt enter an iva as the other creditors would see my bank details and know i gave preferencial treatment to a creditor and not be happy( i did not deliberately intend to be unfair i this just panicked) then spoke to national debtline(who are very helpful) who advised f&f settlement doing it myself, and told me not to tell the creditors where the money came from just say it will be made available to me from a 3rd party, i owe 44,000 and have 18,500 to offer plus another 2,000 to be able to negotiate with if needed, does anyone have any advice or thoughts that this would be accepted, i very much fear it will not, and i will never get out of debt. P.S this site is amazing wish i had found it earlier. thanks and appreciate any advice

[facingittogether]

HI ROCK BOTTOM AND WELCOME!

I AM NOT AN EXPERT AND SO CANNOT ADVISE YOU BUT I AM SURE SOMEONE WILL BE ALONG SHORTLY!

TRY NOT TO WORRY THERE WILL BE A WAY FORWARD FOR YOU

LOVE BARB

[rockbottom]

Hi barb
thanks for replying it just makes you feel that you are not alone.

love rockbottom

[Soulgrowth]

Hi Rockbottom ... you are certainly not alone ... one of the experts will be along shortly to give you some good advice. And please don't worry too much, there is always a solution to every problem [:)]

All best

Debbie

[facingittogether]

rockbottom - you are definately not alone and will get lots of advice and support on here, so you have come to the right place!

i am a person with big debt problems and my iva creditors meeting is on monday, i really could not have coped without this site over the last 4 months, most of us are in similar positions and you will never be judged on here just supported and you know what they say a problem shared is a problem halved.

dont be scared, you are facing up to your problems and that is the hardest part to take the first step. wait for an expert to answer your questions and you will feel better just by knowing your options.
you dont have to face any of it alone, there are lots of lovely people on here who will be willing to give you their support!

keep yer chin up

love barb

[chris.g]

Hiya Rockbottom, I think we've all been where you are at the minute. I can't really answer your questions as I'm not an expert but well done for facing up to your problems. Best of luck ,
xx

[rockbottom]

thanks debbie
i can see from your earlier posts that you are waiting for a decision yourself i really hope it goes well for you, i cant believe there are so many supportive people out there when they have problems of their own.

rockbottom

[rockbottom]

good luck for monday barb and thanks again, this site does seem like a lifeline to keep you from cracking up, ive been reading it the last few days and cant believe how many times it makes me cry and then cheers me up.

rockbottom

[Soulgrowth]

I think that everyone would agree that it's the sharing of the problems that makes it that bit easier [:)]

Debbie

[singlemum]

I agree, sharing the worries really helps. I haven't told anyone I know about my IVA (25 payments in!!) and have just discovered this site, it has made me feel so much better just to know I am not alone. I have had many questions answered just by reading other peoples posts. There always seems to be a solution to any problem and as others have said I am sure an expert will be along to help you soon. Good luck, and hope you are able to change your user name soon when you no longer feel at rockbottom xs

[MelanieGiles]

That's interesting - the National Debtline advising you to be deceitful about presenting your circumstances to creditors. Whatever will we see next in the debt management industry I wonder!!!

I suggest that you take advice from a properly qualified insolvency practitioner as to your options, and the implications of what you have already done. I do not think that all has been lost, but it is difficult to advise on just a few bare facts.

You have clearly preferred certain creditors, but can you provide a list of the payments you have already paid out. Also would your brother be prepared to give you the money back for a more even distribution amongst your creditors.

[Soulgrowth]

Melanie ... to what extent does intent come into these kind of situations? It would seem quite reasonable in the early days of the acknowldgement of the needs to address one's debts to make some decisions that, at the time, seem sensible. In the early days one does feel as if one is floundering and trying to do the best. One's intentions might be quite sound.

Debbie

[Viki.W]

Hey rockbottom, welcome to the forum, I would suggest you give Melanie's office a call on Monday so that you can get some advice on your situation, I'm sure there is a solution. Just to add to Debbie's post, I'm interested to find out about things that we did before finding this forum and before possible ivas. I paid off Mint back in December from the proceeds of the sale of my house because they were charging me the most interest, the idea being tackle one debt at a time. Then in February I found out about IVAs and this site and now here I am. I hope this doesn't mess things up. Good luck Rockbottom, you're in the right place. Viki X

[rockbottom]

hi Melanie
thanks for replying,sorry for delay in replying my son came down, i cant ask my brother for the money back as he doesnt know the situation i am in and i am too ashamed to tell, i can provide a list of payments already made as they went through my bank account, i honestly didnt mean to be unfair i paid them back because i thought if i missed payments they would just take the money out of my bank acc leaving my with not a lot to live on at the moment and that i wouldnt be able to close my acc as i owed them money, and if i just kept paying them monthly out of the remortgage it would be mostly interest not a lot coming off the balance eating into the lump sum i have to try and clear the rest.

rock bottom.

[MelanieGiles]

Debbie - there are differences depending on whether the preference is to a non-associate or an associate (ie a relative). Where the preference is in favour of a relative, there is an presumption of intent which does not need to be proven. If the preference is to a non-associate - as in Viki's case, it would need to be proven that she acted with a view to preferring Mint - which of course was not the case!