HI I RECENTLY WENT ONLINE AND FILLED IN FORM TO SEE IF AN IVA WOULD BE AN OPTION FOR ME IMMEDIATELY AFTER SUBMITTING THE PHONE RANG AND INSTANTLY WAS TOLD ABOUT IVA FELT QUITE RUSHED BUT A BIG ENVELOPE FOR ME TO SIGN WITH MONEY DEBT AND CREDIT WAS SENT.I CALLED THEM AND PANICKED BASICALLY SAYING NOT INTERESTED AND FELT SHAMED BY THE WHOLE SITUATION BUT ON REVEIW I DONT HAVE MUCH CHOICE AM RIGHT AT END OF DIVORCE THREE CHILDREN TWO LOANS THREE CREDIT CARDS AND CURRENTLY NO EQUITY IN MY HOUSE AND WOULD HAVE £17000 SURRENDER FEE ANYWAY. HAVE READ ABOUT MELANIE GILES AND SAW GOOD REVIEWS JUST NOT SURE WHAT TO DO. I LIVE JUST OUTSIDE SLOUGH
First of all, please don't feel ashamed - most of us here have been in the same situation as you, and you are among friends here.
If the company that you spoke to are rushing you, then perhaps they aren't the right company for you. You need to think about things to make sure that you are making the right decision - this is a life changing decision. Did the company you spoke to go through all your options with you - DMP, IVA and bankruptcy? It's important to consider all your options.
How much do you owe? You're right when you say that Melanie comes highly recommended - why don't you give her a call, or contact her through her website? It doesn't matter that you're near Slough - unless you are self employed you don't have to have a face to face interview with an IP.
Entering into an IVA is a big commitment to make, that it is vital that you fully think things through and chat through your options with an experienced insolvency practitioner. There is no harm in getting a second, third or even fourth opinion from a number of firms, but I think that you will feel a lot better if you shop around and take your time to make your decision.
hi lisae skippy is so right. dont rush- i know youre panicking and i was the same. you need an ip you can feel comfy with after all its a 5 year commitment and once you commit its nigh on impossible to change iva companies.
As skip says melanie is lovely-her staff are so dedicated and warm and professional and make you feel like youre the only client. just take your time and make sure you look at all avenues. DO NOT let this company rush you. we are here if you need us .[:)]
IVA is a powerful tool and I would call it a 'nuclear' option to resolve debt problems once and for all and if you can avoid it been on other schemes like a Debt management plan then good on you.
Its no different to these government to Bank bailouts except you are 'bailing yourself out' and giving creditors back only a % of what you own.
5 years been super thrifty in an IVA regime can be daunting. Not easy in a world of desire and want.Some go all the way and some just throw in the towel and go Bankrupt instead as you can see from the post.
You are 'Insolvent' in an IVA - 'lite' Bankruptcy but you are protected from creditors claims and on the road back to credit boon again.THATS THE SELLING POINT! WIPE the impaired credit slate clean and start again in 5 years.
Its what the country needs as well as individuals.
Youre in a dark place right now and need help and advice from an honest place, what you do not need is judgement or pushing and shoving from other individuals or pushy companies. I did what you did, filled in one of those wizard things and hey presto, IVA was the option that come out every time, even when I put in tosh amounts. The problem is that some companies know you dont know, know youre desperate and hope youre vunerable.
Take advice from Melanie and take it from there, or phone a few more companies and explore all of your options.
I understand that youre very scared and worried now but you can get through this, you have already shown your strength by posting here, facing debt is very hard, you've already started to do that.
Making the decision to do an IVA is a big one, take your time and don't be rushed.
We contacted a large well advertised firm 3 months ago, they agreed to propose our IVA at £750 a month. they rushed us to sign up trying to get us to send forms back by email within a couple of hours.Luckily I got cold feet and would not sign up.
I found this forum and after further research asked Melanie Giles to propose our IVA.
Now 3 months on our IVA was approved on 23rd Dec and our payments are over £200 less per month than previously suggested.
It is vital that you find the right IP, and your have a budget that is managable.
we are all here to support you.
Best of luck
XXXX
7 down 53 to go
The pedal uphill may be hard but remember once you reach the top you can take your feet off and freewheel all the way down!!!
I agree with all the other posters, you need to speak to another company before making a final decision.
I would add on a personal note that I had a bad experience with MDC, and wouldn't touch them with a ten foot bargepole!
Give Melanie a ring, you will get sound advice from her and her team. She comes highly recommended.
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
Just wanted to say welcome and good luck with your debt issues in getting them resolved.
I'm in an IVA and have been for 18 months now - it is a five year "bank loan" is how I see it - five years to pay it back with no interest being added - five years of living in a tightly controlled budget that does not give alot for extras, however you know that what you have is sufficient to cover all bills and emeergencies - there opportunities in most IVA's to allow you to do a little overtime and retain this as extra - this gives you opportunities to take a small break (Sun newspaper holidays are back starting today !)
Whatever you choose to do this forum will be here for you to support you along the way -good luck.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Can I just add that in the right circumstances bankruptcy isn't 'throwing in the towel', but a way for people to deal with debts that they cannot afford to pay. Like an IVA it shouldn't be entered into lightly, but should be considered along with an IVA and DMP.
I agree Skippy. IVA's are not the solution for some people, neither are DMP's. Bankruptcy is not entered into lightly, indeed a lot of people shy away from it as they still see it has having a stigma.
It is not throwing in the towel, it is dealing with your debt with a solution that is right for you.
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
Hi and thank you all so much for your support. Since I last posted I spoke to VikiW and she was great gave me some really good advice and it looks like a DMP is best until im able to have an IVA had a little panic this morning but she reassured me all will be ok. I suppose its like i feel im waiting to go to the head masters office ive always been quite intimidated by authority. Anyway slept very little last night thinking Id let my kids down etc. Also have been drinking a fair bit not to socialise just to numb stuff i suppose.Well today first day and this too will pass. THANKS xxxx
I wanted to do an Iva myself but my circumstances at this moment are preventing me from doing so as I am in the building trade I want too make sure that my job is safe before commiting to an Iva. I have been on a dmp with cccs for 9 months now and to be honest all the creditors have been fine and have frozen all interest and charges and I never hear anything from them I don't want to be on a dmp for ever but see it as temporary stopgap.
I just thought it may help if you got some info on how other people have got on with a dmp I know that some have a hard time but luckily enought up to yet mine as gone very well.
