I presume you meant solvable David? If they were all soluble we could get rid of them easily![:D][:D][:D]
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
I managed to sleep last night though it took a while for my mind to shut down enough to sleep. I feel so stressed all the time and am snappy and moody. I am not the most patient of people at the best of times anyway. Doesnt help that my boss is on holiday this week and I have to run the department... I think I may end up with a grey head of hair before the week ends. Am thinking as there is recent spend on my credit card I should pay them this month at least until the IVA is in place however long that process takes
The choice is yours as to whether or not you make a payment this month, it doesn't make any difference one way or the other.
You will be stressed until you have an IVA approved - I don't think there is anyone on here who can say that they weren't.
You'll come through the other side and be able to get your life back on track.
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
Sorry if im jumping the gun, but if its the IVA route you are looking to take, you need to think about channging your bank account if you currently have an overdraft/debts with your bank. You need to have a basic cash account with a bank who are not assosiated with any of your creditors.
The yorkshire bank and the Co-op both come highly reccomended, and offer these basic accounts. I have accounts with both of them. I say this because they can sometimes take a couple of weeks to set up, and it will be another thing to not to have to worry about.
You will have to phone up the Co-op for the account, and visit branch for the Yorkshire account. I think the coop account is called the cashminder, and i cant remember the yorkshire one! Both are very basic accounts, no credit checks required and have no chequebooks or overdrafts.
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I wouldnt pay it now, you have made your choice. Youre going to need that money to sort your car out, that car is your ticket to getting back on track. Will the payment you make really make much difference to what you owe on that card? I doubt it. I know its really hard right now hun but try if you can to forget what you owe, what you have spent recently or not. The absolute truth is you cant repay it. Try and mentally put it all in a box and close the lid, whats in that box is in the past. Its now time to look into the future and make arrangements to let some professional like David and co to take that box off your hands. We can always find something to beat ourselves up about, dont do it. Its rather like getting on a rocking horse and trying to go to London, it will not get you anywhere.
As I have said before its a hellish place to be and youre not going to feel on top of the world right now. Just try to focus on the positive steps you have already taken. There are probably loads of people out there reading the forum too afraid to even write a post. Although it may not feel like it, you have come a long way already.
It doesnt matter how many times you feel like youre falling off that huge first rung of the ladder there will always be someone here to help you.
Hi dand, yes I was advised to set up a basic bank account due to the majority of my debt being with my bank. I have set up an account with coop ready. I actually applied online and have already received letter and debit card and pin. So all good to go on that front... Lily you are so right - my son is at his dads for the day so I am just sitting here thinking and worrying need to distract myself a little me thinks
Just wondered when you go into an IVA what happens about loans from friends and family. I still owe my mum £500 for the handouts she had to give me to pay my rent, or do shopping over the last few months. The trouble is I cannot add anymore expenditure or I do not have the £200 disposable income free to do the IVA?
You would need to include these alongside your other creditors. And your Mum ought to receive her dividend payment at the same time as the other creditors, paid for out of your disposable income.
Where have you got the idea that you have to have at least £200 to propose an IVA? There are several firms who will take you on iat a lower level.
Hi Melanie, Nationaldebtline said I would not be considered for an IVA unless I had £200 disposable income. I jigged all the figures to ensure I had the £200 available so I could get an IVA as I would lose my job if went bankrupt.
Talk to David Mond - he does not set benchmarks like that and will act for clients with lower levels of disposable income. I think it is poor show for Nationaldebtline to be quoting incorrect information to people who seek help and guidance from their service.
The way I understood it an IVA is individual and its based on your actual figures, not jiggled around ones, jiggling figures now could bite you on the botty later on, hun. What do you do for a living? Its only in certain professions that BR is not an option, check this out first. I am not a debt expert in any sense of the word. I was in debt and know how you feel.
I honestly did think i had to have £200 for an IVA!! I will be contacting David on Monday to see if he can help me. I just want it sorted out as soon as possible so I can stop panicking.
Look forward to your call - I've asked Size 5 to watch out for it.
[:D]
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
