Just stumbled across this site after my anxieties have got me in a complete state! On top of my debt worries, I've had a beareavement in the family yesterday and it's all getting too much. No one knows about my "financial situation" and I am struggling to keep this all together!!
I have received my creditors meeting date (23.11.09) and time this week and my panic is now 10 fold! I have been forced back to live with my parents after my minimum payments on my debts equates to about £1050 per month. Main problem being is that my parents are relocating after Christmas so unless my IVA's approved I am not going to be able to afford rent which in theory could mean me not having a roof over my head.
My debts are wih RBS (overdraft) RBS credit card and RBS loan (total RBS debt of about £15k), then capital one credit card, mbna credit card, citibank credit card, argos store card and a next store card (total combined debt of £15k) - I know none of you have an insight into the future but are these creditors normally "hard ball players"?
I am using Debt Free Direct who I have to say have been fantastic so far.
Your chosen IP would not be putting this forward if he/she didnt think it stood a chance of acceptance so just try to stay calm.
DFD are probably the largest IVA provider and know what they are doing.
Your worries are understandable, most of us have been there but you dont have long to wait now.
Best of luck
hey lusso
welcome to here !
and you made the best stumble of your life-this forum is a god send !
i have been on here for over a year using it for all kinds of stuff rants moaning sympathy !-you name it !
so sorry to hear your loss x
i cannot tell you to relax because last year i wasnt in quite as desperate situation as you but i can so relate to the feelings you must be having-all the panicky stomach churning etc.
what i can say is your iva company would not put your case forward if they didnt feel it would stand a good chance.
what they put forward is whats best for you and your creditors. from what ive learnt having been through the year in an iva is its not a case where the creditors will just say no go away-they obviously want to see as much of as a return on their money as possible and dfd would have made sure that what you are propsing is a sensible offer and the creditors will see that you are giving the best you can.i dont think dfd would waste yours or their time goung through getting this far if they didnt think it stood a good chance.
im not going to say relax everythings ok because i would be a hypocrite-even now i still panic ! but what i can say is try and put your faith in dfd that they will get you through. it is hard and i so know the horrible feelings you are having right now. you have found a fantastic site and you will see in the morning when others posters wake up and see your post just how lovely and caring and non judgemental people are on here. keep posting and keep your head high because you are doing your very best to sort this out [:)]
Last edited by flumpy dog on Sun Nov 15, 2009 12:23 am, edited 1 time in total.
Good Morning Lusso - I'm up late too! I also am with DFD and all my debts are with the RBS (55 grand!). I will say to you not to panic as your creditors meeting is just around the corner and DFD wouldn't go this far if they thought you wouldn't be accepted for an IVA but just make sure you have told them everything about your situation. You will still receive loads of worrying letters from your creditors for months after acceptance telling you how much you owe and they want it 'now',but truth is once you are in an IVA and you are making your agreed monthly payments they cannot touch you anymore! This is the best website to visit on a regular basis to stay informed and there are several experts on hand to offer more exacting advice than me, so chin up and think positive - you're gonna be OK !
Last edited by PELDER on Sun Nov 15, 2009 2:36 am, edited 1 time in total.
Hi Lusso, welcome to the forum from myself too, so glad you've found the forum as we're all here to offer any advice and support that you may need.
It's easy for me to say don't worry but I also respect it's not easy to do as I've been in your position and remember it, however your creditors meeting is set for the 23/11/09 and I wish you luck with that. As Lisa said DFD wouldn't put a proposal forward they're not confident with. I hope it goes positively for you on the day and do let us know won't you?
I'm sorry to hear you've had a death in the family, do concentrate on yourself this week and 'try' and let your IP do his/her work. I have only recently told one person about my situation and did find it a relief. I realise we're all diffferent and it's taken me two years to get to this stage, whereas some posters do tell their family and friends.
I'm assuming you've told DFD that you're currently living with parents but that they're relocating and allowances are in place for you to rent somewhere.
I'm glad to hear you're happy with DFD as that is a very good requirement of a smooth running IVA to be happy with your chosen representative.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hi Lusso and a big welcome from me, firstly i hope you and your family are ok after the sad loss of someone, take time out to deal with your feelings. This site is as everyone else has send an absolute god send i wish i had found it before i embarked on my IVA, not that i would have done anything differently but because of the support and information that it provides. Good luck with your proposal i too am with DFD and have found them to be very helpful, some hiccups but none that weren't sorted and of course aside from Melanie and others you also have Declan on board who will take up any issues with DFD for you or attempt to sort them out. Take care and be safe, let us know how you get on. x
Om shanti, namesté, good luck to all who are embarking on the IVA journey, it isn't always an easy one but the outcome is the best.
IVA COMPLETED August 2012, received Completion certificate 18.4.13.
So sorry to hear of your news Lusso. I can understand how you are feeling.
You can come on and rant, ask advice and generally get things off your chest at most times of the day or night.
Not long till your meeting and I am sure that it will be fine.
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
welcome to the forum lusso,sorry to hear about your family bereavement,a lot of members on this site are with dfd,your in good hands and i,m sure you will get some good news a week tomorrow.this site is very helpful and understanding,you will get all the help you need and it is comforting to talk to people with similar debt problems.take care lusso.x
Thanks to you all for your kind words [:)]- had a very restless nights sleep last night but feel a lot better now that I have found this forum where I can get things off my chest.
I keep trying to tell myself that there is no point in worrying as things are out of my hands now but I have less than 2 months to get myself sorted and I can't help but think "what if". This was the original reason why I contacted DFD so they are aware of my timescales and the position I am in so fingers crossed.
I have a question that you might be able to help me with...
1. Most of my debts I have been slowly (and I mean slowly) chipping away at but only ever minimum payments but as all my payments were totalling over £1050 per month I have been living off my Capital One card - I pay their minimum payment of £272 per month and then pay for food and petrol using the amount that is on the card that doesn't get swollowed up in interest - just over £100 - As I have had to continue to spend on this card will this hinder my chance? Sometimes I have purchaed items for family/friends so that they can give me the cash so that I have cash to spend through the month.
Obviously this has stopped in the last 3 weeks but I am concerned!
Lusso, don't worry about that, I was using my cards up until the week I sought advice, they then advised to cut them up and never look back, I did this hesitatntly as I could never imagine living without cards, but it is possible and it does give you a great sense of satisfaction.
Let DFD do their thing and honestly it should run smoothly, have you got rid of the cards now?
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Thanks Lesley - yes I have got rid of them now, although I am now having to live off £150 per month and my petrol costs £100 per month. I would consider getting rid of my car but my job is car dependant so this is not an option
to be honest and i know it is so worrying when you finally stop paying these guys -it feels really weird !
i would use the money that you were paying cap one and the other bods with and i would start getting a little contigency fund together to meet all or part of your first months payment-im not sure how dfd operate but i know with mine i had to do a payment before the creditors meeting which i was very happy to do.
to keep paying your creditors up til your meeting wont affect the outcome-they will be judging that by what your ip has helped you to offer them. i would just get yourself a little fund together-you are going to get lots of calls when the payments stop and they made me panic like mad but these are the sales bods/call centre people NOT the people who will make the final call (whatever they try and tell you-ive heard they have done that to some posters )
youve got the ball rolling and now all you can do is have faith that your ip will try their very best for you. there is always someone on here-says her who went to bed at 2.34 am and had to be up at 6 for work ![;)]
keep posting all your worries, fears, anything you feel and you will not ever ever be made to feel silly, small, stupid, in fact this place is my big comfort blanket i love it and everyone here is the best so you stick around hun and please try not to worry i know its not easy x[:o)]
