hi everyone i'm new to all this, i realised that i could no longer afford to pay my credit cards earlier this month. i owe £38,000 to 5 cards thats not including my mortgage or my secure loan.we're going through the iva process just now and it's very stressfull.my account manager has asked me to cancell all my direct debits.earlier in the month,which i did and because my cards were all maxed out i'm now overdrawn on them which i have never been before,i've just had i think it's called a draft and we,ve come to a figure of £512 to pay my creditors, though i believe this will take some time to go through and i'll miss even more payments.just as well really because if i paid them i wouldn't be able to pay my utillity bills or even fuel my car to get to work.my wife and i have worked all our lives,and have always enjoyed nice holidays and things.we,ve had our cards for years in a way i do place a small amount of blame on the company,s,they kept increasing my credit limit and i kept spending thier money,at the moment we're at rock bottem and we hope our iva will be accepted at least they'll get some of thier money back.i only hope that now after realising our problems things can only get better.i'll continue to read in the forums as you all have all gone through this initial process as have many others.i now understand what i means to have no money,and have sincerity for those in the same situation as ourselvse,and admiration for those who have completed the process.all best everyone xx
