Personal Statement

[Rockin Diner]

Hi everyone
We have just sent off our paperwork and have been asked to do a personal statement outlining what we borrowed and why. Apart from saying we have spent truckloads of money renovating the house and bringing up/supporting kids, I really can't remember exactly what else. We've not been extravagent or had exotic holidays, its just gone until we reached the point where all credit was used up. We've plainly been living beyond our income for years. Help - what DO you put in a personal statement? I'm terrified of saying the wrong thing and getting turned down
Thanks

[MelanieGiles]

I would normally look for four or five short paragraphs concentrating on the reasons you started borrowing money, when you found that it was difficult to pay it back, the reasons for those difficulties, what you have tried to do about your growing debts, and why you now feel that an IVA is a better solution for you than a DMP or bankruptcy.

Don't worry too much about the statement. A good IP will never turn a client away if they are unable to produce one - they will merely help their client to write one. So if you are really struggling give your IP a call for a chat.