spending spree

[kallis3]

Well put Andrew![:D][:D][:D]

[debtmountain]

Hi Andrew,

[:D][:D] Very well put,it's true what you say in the fact that an IVA is a way of educating you on how to handle money.

When I had my credit Cards, I got into the situation of thinking that the money was all mine to spend on what I liked, forgetting that in effect it was really just a loan but where with a loan, you get all the money up front, and end up paying it off each month, on a credit card, after paying the monthly Bill, you still had money on the card to keep on buying things and then eventually getting to the point where so much interest had been added to the cards that you were maxed to the limit.

I am now 2 months in arrears with my Cards so still early days for me but not used the cards for about 5 months now so I am getting used to Budgeting and just paying for everything with cash and I must admit it feels so much better. I just hope that me and hubby's IVA will be approved, and if it is, I will be very grateful and will never touch credit again, just pay cash and if we haven't got the money, save up. [:)]

[andrewgoodman121]

Good Luck with your IVA proposals Debt Mountain and John K.

Some people find it Tough Going because they are so accustomed to living on credit which in reality is money that is not there's
IT IS THE BANKS MONEY!!!

It is a deadly trap and is SOOO EASY TO GET SUCKED INTO!!!!
When you have a credit card when you are near the max they then decide to up the credit limit by another few thousand.
A Voice in your head says i won't go anywhere near my credit limit and before you know it you are there again and the Train Tracks have run out as the credit card company will not give you anymore money and all credit avenues are now CLOSED OFF!!!!.

HENCE YOU ARE NOW IN STRESS PANIC MODE!!!

HENCE YOU HAVE HARDLY OR NO MONEY FOR YOURSELF TO LIVE ON AND HAVE TO TAKE ON EXTRA WORK OR OVERTIME TO KEEP THE CREDITORS AT BAY!!!

HENCE YOU ARE TOO ASHAMED TO TELL ANYONE ABOUT IT!

HENCE YOU HAVE SLEEPLESS NIGHTS ANALYZING YOUR FINANCIAL LIFE AND WONDER HOW IN HELL AM I GOING TO GET OUT OF THIS MESS THAT WOULD TAKE ME 50 YEARS TO REPAY.

HENCE YOU ARE TOO SCARED TO PRESS BALANCE OF ACCOUNT ON THE CASHPOINT MACHINE.

HENCE YOU BECOME DEPRESSED AND FEEL WORTHLESS.

Welcome to the WORLD!!! of Bankruptcy, IVA's and DMP's

THE CHOICE IS YOURS!!!!!!!!!

[Dominic]

in three years and 5 months it will be done that is not a large chunk of my life as opposed to meeting minimum payments and dreading the letter from the bank about going over the OD limit every month for the rest of my life.