I have recevied today the forms from the IVA company and am a little overwhelemed to be honest.
The form that is worrying me the most is where I have to complete how, why, what, where I got the debt.
The simple version is my partner (no longer together) lost his job and basically i supported him to the tune of my debt and it got completely out of control. During this time I was also off work ill so was not really paying attention to what was going on. I accept full responsibility for the debts and only have myself to blame.
Tried to sort it out but robbing peter to pay paul, direct debits being returned.
The debt is all in my name - i know big error on my part.
I was wondering if anyone could point me in the right direction in completing these forms so I have the best chance possible in the IVA being approved and not rejected because im a numpty.
Welcome to the forum. Your description of why things have happened sounds fine to me - it is best to be up front and honest and give to them as it is....
Which company have you chosen to go with ? Give them a ring and ask them to go through the forms with you - this is a very stressful time and it is important you fully understand everything being asked of you.
If you haven't done so already, I would encourage you to discuss your circumstances with two or three firms to ensure the advice being received is the best to help you move forwards into a debt free life...a good starting point would be look at www.iva.com
Let us know how you get on
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
thanks for your message - do feel bit happier now. I have gone with Stepchange and have already done what you suggested about speaking to differnt firms. Stepchange made me feel happy about making sure I had enough money for all outgoing and even put outgoing on the form that I had not even thought about, questioned my outgoing in a good way. Increased where necessary.
I think he said i will be paying £150 per month which is so much better than what I am having to pay out at the moment. This forum has been a very valuable in making decsion to contact someone about my debts.
I will go back to the firm and ask the questions and to go through the form. Would like to get it right first time.
great news that you have already taken advice from several firms. £150 to creditors each month for an IVA is a viable suggestion and I hope your creditors meeting can be arranged swiftly for you so that you can get the payments started and your debt free life comes sooner.
We are always here for you on the forum ..there is normally someone about night and day (alot of us tend to be awake at silly o'clock in the morning too) ....no question is silly so please don't not ask !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Remember that iva payments can be raised after yearly reviews of income and expenditure and are based on what you can afford. Dont choose one over another just because of lower starting monthly contributions.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
I can remember having to write this for my IP (Melanie) I wrote it quickly and felt was that really me that got myself into debt. All they want is honesty and the facts. I'm sure you'll be fine.
Welcome to the forum and remember we're here to support or give advice along the way so don't be a stranger. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
If your statement does not contain enough info Im sure your IP will get back to you just to clarify as mine did. Good luck, this is the hardest time...things are going to get easier and you can start to feel positive about now moving forward. I only got my IVA accepted a few weeks ago but it really has released me form so much pressure, anxiety and upset. Best of luck x
