not been honest

[lifesucks]

hello....I been looking for weeks and havent plucked up courage to post.I saw a post recently about confidential info so thought I would ask my question.

I am in IVA....debt 90k...I have my account with "The OneAcount"...all my salary and DDs etc are all in one acount.

I have been paying my IVA etc......BUT....this acount gives you a "facility"...which is to do with the mortgage etc.>>>basically I have been dipping into facility whenever I am short and not really sticking to budget...even had a holiday this year by using this .... I guess its a bit like still using credit cards.....but with reading the forum for long time I realise I need to stop and start being sensible otherwise I wont ever learn lessons....I feel such an idiot and desperately want to get my life back on track....and I feel as if I am seriously in trouble.

My question is....what if I am found out...will my IVA fail???...or if I stop doing this now and live within my budget...(which realistically I can doif I try))....will I keep quiet and assume no-one will know or find out?

[Viki.W]

Hey lifesucks, welcome to the forum. I don't know the facility you mean so can't comment but you know it's wrong so that's the good thing! Get yourself back on track, talk to your IP, you won't be the first to do this. There are lots of tips on budgeting on this forum and we're all here to support each other so keep posting, it may help.[:)] As for your IVA failing, please wait for an IP to advise you. X

[aguise]

Hi there lifesucks and welcome to the forum.

Hopefully a technical expert will be along soon.

The main thing is that you realise you cannot continue to do this. You will get good advice here .

Keep posting

Ang

[lifesucks]

I know I deserve not just a slap...but a kick up the bum.....I am feeling incredibly bad....so much so that I had some tablets in my hand last night....but...knew that was just as daft.

Anyway...."TheOneAcount"....is the mortgage and salary all in one acount....means I can basically use whatever the difference is so long as the interest is covered....if I go into the capital etc....it just means i am "behindplan"...in paying off mortgage.....

..I think the experts may know what I mean....this has been one of the main ways I got into such a mess in first place.

I am so scared of both your suggestions....telling IP...and not telling IP

[Viki.W]

Hey lifesucks, I completely agree with Ladyh, be honest, sort it out and move on. You are in a great place for support here, don't get lost in that dark place, post on here, you'll feel better, I know I did. X

[MelanieGiles]

If your IVA terms and conditions say no credit - and they are bound to - then I am afraid those are the rules and you are breaking them if you take credit which has not been agreed by your Supervisor.

[lifesucks]

Thanks for replys....if I have broken the terms of the IVA...does that mean if I inform IP that my IVA will fail....

In my naivity or stupidity I thought that I wasnt actually getting "credit" as such...but just adding on to mortgage life...

I definetly dont want my IVA to fail..

[Soulgrowth]

Hi Lifesucks ... welcome to the Forum.

It sounds like a similar facility I had with my old Abbey mortgage where you could draw down money from your mortgage if you are on a repayment mortgage? I'm not sure whether that would be classed as 'credit'?

Debbie

[Adam Davies]

Hi lifesucks
Ask your mortgage provider to withdraw your facility,then inform your IP of what has happened.
I am sure that they will not fail your IVA over this.
Is it any different to taking a mortgage holiday ????
Regards

[Soulgrowth]

Exactly!

Debbie

[chardonnay]

Hi Lifesucks,
Welcome to the forum and well done for admitting your indescretion!! At least now it's out in the open you can deal with it and move on to living within your budget!! It is hard to stop old habits, but we will all help and support you through the rough times.
There is plenty of budgeting and money saving tips on the forum so keep reading and psoting.
Good luck sweetheart,
Hugs,
Chardonnay

[emma_t]

Hi lifesucks

You know you have been a bit silly and you know that you need to learn lessons while in an iva, the main thing is you know what you have done and want to make your iva work.
Use the forum as support as it has helped me tremendously and has been a crutch when times are hard.
I wish you well in sorting this out[:D]

[rockstarloz]

I'm sure your ip ill understand, just be honest. I am taking a mortgage payment holiday but the lady I spoke to on the phone seemed to think its okay. A bit anxious that maybe its breaking my IVA conditions! Its for home improvements. Maybe I should double check, its not really credit is it?

[indebtforever]

To be quite honest a holiday break from mortgage should be added to the iva pot in reality its a bit like a windfall but i have had one also [:I]as for your misshap with getting extra credit i would close the facility as the whole idea of an iva is learning to get in to a habit of living without credit and being debt free at the end. In my opinion i would keep it to myself and start living on your disposable income as i wouldnt want them to add up the extra i have taken and ask for half of it aswell as running the risk of failing the iva, not many iva`s run smoothly cancel the facility and move on .

good luck

[rockstarloz]

Just spoke to the firm and they are fine about the mortgage holiday. Might keep some for emergencies, thought that might be sensible. Keep us updated Lifesucks on the outcome.