Never be ashamed of debt, stand up and say stop

[naomi12]

Hi

I am new to this forum thing but what brought me here is that I have been reading everything I can of late about IVA's. I just taking the initial scary steps towards an IVA after realising I was heading for financial melt down.

Exactly how does the process work, for example how much money are you allowed left to live on etc[?] Realising that you won't have access to you normal escape route which is cedit is scary.

Any help would be much appreciated
[:I]

[sobroke]

Hi Naomi,

I've just entered an IVA. I started the process in May and the 2 months getting stuff together and waiting were actually ok I felt I was finally doing something. The only bad moment was when our IVA was initially rejected but it's been accepted. I was really scared at first but I read as much as I could on this forum and on the internet and I knew it was the only realistic option.

Good luck

SB

[MelanieGiles]

Hi Naomi and welcome to the forum

There is a lot of advice and support on the forum about IVAs, and as you say you have been reading much about them on the internet and other sources no doubt.

The best thing for you to do would be to contact an insolvency practitioner and have a direct chat about your options to see what would be possible for you. You will state how much your income and expenditure actually is each month, and subject to some guidance about maximum allowable expenditure, ought to be able to live comfortably into the future without pressure from your creditors.

[aguise]

Hi Naomi and welcome to the forum from me.
as melanie says an Ip is the best person to talk to, everyones situation is individual to that persons set of circumstances. Speaking for myself we have been in our iva for 20 months now and have found it so enlightening and educational. Our whole attitude to how we spend has changed for the better. We think before we buy, we look for deals and save wherever possible, and live a much better life without the worry of how we are going to pay. I can feel proud when I buy something now knowing I have paid for it and not a piece of plastic.
I will stop having a ramble now.
Facing the fact that you need to do something is one of the hardest things to do, but believe me you will feel so much better when you can see an end in sight. Debt just unfortunately goes on and on and we always said we will be ok in five years when the loan ends, but it never did something always came up or credit limits increased. I know in 3 and a bit years our money will be ours for us to enjoy, planning what we are going to do is something we enjoy nattering about together.
I rambled again didnt I really am finished now. lol

Ang

[tori]

hi naomi and welcome.i would just like to say that 9 weeks ago i was in exactly the same position where you are now.i knew that i could no longer carry on trying to manage my uncontrollable debt situation by myself.i was on the internet all the time lookin for advice & purely by chance i came across this forum & the name melanie giles.i plucked up as much courage as i could find,made that 1st phonecall and immediately felt a million times better than i have in years.[:)]

[kallis3]

Hi Naomi and welcome from me too.

You have taken that first important step by recognising that you have a problem, and yes, it is scary not having that credit card to fall back on!

As everyone has suggested, contact an IP and start the ball rolling.

Good luck for the future.

[tori]

for me personally, admitting that i couldnt cope with my debts anymore & getting the fantastic help and support that i have been given has made my life so much calmer and stress free and most importantly 'normal' again.i cant wait for my iva to be (hopefully!) accepted then i can get on with my life and be the person i was before.good luck to you.i hope you get sorted out soon ! x [:)] [:)]

[naomi12]

Hello and thank you for your kind advice

I have found an IP, it is one I found via the internet, it is one of those "large organisations" that unfortunately charge you in the first instance for speaking to creditors. So now the ball has started to roll as they say, I just want to ensure that I know what they are talking about while I walk down this road! No doubt I will be back with more questions as soon as the IP guy makes contact with me next week

[tori]

hi naomi im glad your getting sorted out.you will feel so much better when you realise that somebody is helping you and guiding you in the right direction to work towards sorting out your debts.for the last 2 months i have felt totally protected and looked after.a much better feeling than constant worry and fear.good luck with your iva journey and let us know how you get on.take care.x [:)] [:)]

[facingittogether]

hi naomi

a big welcome from me too!

like others have said you have taken a massive step by recognising you have a problem! i would contact a ip who will give you honest opinions and options to get sorted, i personally and i know alot of other people on here will also recomend melanie giles, she and her team will give you advice, thst is honest and they will certainly not judge you, just help you!

good luck, keep posting and let us know how you get on!

love barb x

[johnh]

We are in the early stages of taking out an IVA with Melanie. Whilst we are still nervous that all will go through OK and we will end up with an affordable repayment programme this is nothing comared to the blind panic of wondering how we can meet the month's minimum payments etc. We too have not come to grief because of a lavish life-style and have helped less fortunate than us a great deal which we do not regret. Where we went wrong was in grossy over-estimating our ability to keep on top of things. The marvellous thing about this forum is that there are so many other decent, caring, considerate people who have done exactly the same and are now using this forum to support others. It is most heartwarming and we are full of optimism that this is the start of getting out lives back on track.

[naomi12]

One thing I've learnt so far from reading through the postings on this forum, as I guess with others, is that I am not alone because up until now I felt that I was failure for amounting debt just for trying to pay for everything, not out of greed or wanting a lavish life,just trying to pay mortgage bills etc and supporting my teenage son. Hey ho I guess things can only get better.

[MelanieGiles]

Not alone at all Naomi - and keep us informed of your progress along with way with your own IP firm.

[Viki.W]

A big welcome from my Naomi, keep posting, we're all here for each other.[:)] X

John, good luck with your IVA, let us know how you get on. X

[angela18]

good luck to the both of you.. you have confronted your problems and now things will look alot clearer when you seek professional guidance!! Melanie is brilliant and her team give you brilliant advice.