Support and advice

[dorset70]

Hi, I am just at the first steps of starting an iva and have just received the paperwork to complete which in itself frightens the life out of me. I have debts of nearly 25,000 and feel so alone and frightened. Would love to hear from people in this situation that I can chat to.

[may07]

Hi Dorset
Dont be scared its not a murder charge! Youve found this site at the right time and there are many many people here in the same situation and at different stages of IVA and professional experts that can guide you and answer your specific questions about your personal IVA.
Im happy to chat to you Im one year in!

May

[Robin]

Dorset I received mine last week it was an inch thick! I threw it down and cried for 20 minutes. Later when I went back to it I discovered it was only half an inch thick and I started at page one which wanted my name and address which I filled in [:)]. Admittedly it got harder from there but you will find a lot of it is not relevant to your situation. As you go through it write down notes of what information you don't have. The form is complete (as much as you can!) before you know it. Incidently my unsecured debts are £110,000 [:0]

[Soulgrowth]

Please don't worry. I was in exactly the same position this time last year (with much higher debts than you have. My IVA went through very successfully and I am now leading much more of a 'normal' life

Everyone her on this forum, normal people and experts alike, are brilliant so do keep in touch.

Debbie

[marie]

Hi !
Try not to worry i was in the same position a couple of weeks ago,the sooner it gets done the better.I have debts of 22,000 so were round about the same.My creditors meeting is on the 19th of this month, i can't wait until it's all over,fingers crossed that it will go through.I just wish i had seen about doing an iva sooner !

Marie

[keh]

Hi and welcome to the forum Dorset70

I'm 3 years into my iva and must say that the forms and waiting was the worst time...after that its almost plain sailing home.

If you got any queries then we got experts here to help.
If your unsure about the forms you got to fill in ask your IP and they should help you fill it in or if you scared to death about your IP then don't be cos 90% of them are human like you and me.
You have taken the first steps now to solving your money worries and 5 years seems like a lifetime but it will soon fly past so i wish you all the sucess and we're here to help you and talk to you even if its just informal

Keith

The long and winding road will straighten out eventually....keep the faith

[ruby]

Hi Dorset70,

I understand how you feel. Try to complete and send your paperwork asap. Also ask about anything you are unsure of. I made a big long list of all the things I wanted clarified so when I spoke to my IP I didnt forget anything.

Make sure you use this forum also. I've asked lots of questions. In my mind I thought some were very silly questions, but no-one judged me and everyone has been very supportive.

Good luck

Ruby

[BECKY]

HI try not to worry , i was in the position 8 months ago and it does get easier i promise. One piece of advice though double check ur figures on ur income and expenditure and make sure they are workable or you can find yourself struggling to keep up payments

[MelanieGiles]

Can I suggest that you also arrange a meeting with your IP if you are confused by the paperworl, as they will be able to take you through it and explain all of the legal jargon in a simplified matter. It is really important that you understand exactly what you are committing yourself to over the next five years, and importantly that the contributions you agree to make are going to be completely affordable.

Good luck.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[tracy.h]

I totaly agree with Melanie.Make sure you understand exactly what you are signing it is so important,that you understand right from the start and that you can comfortably afford the payments.5 years is a long time,but a realistic iva has great advantages and will allow you peace of mind and protection while you pay back what you can afford to your creditors.
Goodluck
Tracy

[dorset70]

A big thank you to everyone who has replied, I am on a week's leave from work so my first job tomorrow morning is to go and open a new bank account and then come home and complete the forms and post them off. I know deep in my heart I have to do it, a few questions if anyone can help me?

Should I contact all my creditors now and let them know what I am doing or am I jumping the gun at this stage or should I wait for the phone calls because I can't keep up all my payments this month? I was given some money by my mum at beginning of year (not a huge amount but enough to pay off an overdraft of 1400 and 2000 off some of the balance of one of my many credit cards!! I hoped it would be be enough to give me breathing space to get myself sorted but all that has happened is I have had to go back into my overdraft and used up the money I paid off credit card for day to day living!!! so back to square one again. Will the bank and my creditor look at that unfavourably that I had some money but then used credit again?

I am going to look at other postings on here as there seems to be quite a lot of information which I think might be really useful to me.

Thanks again.

[Adam Davies]

Hi and welcome
You can send a letter ,if you wish ,giving details of your IP but you will still,probably,get phone calls etc.Ask your IP for advice regarding making token payments or not and stick to the advice given.
As far as using credit to live on...........we,ve all done this prior to undertaking an IVA so do not worry.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp