THE DRAFT IVA HAS ARRIVED!!!!!!!

[scooby]

Hi I agree the credit card companys and banks should take some of the responsibility because they are always pushing you loans credit cards etc with low rates and this n that so you feel you are getting a better deals so you switch cards to "low intrdutory rates" knowing that you will likely use that one and your others trapping you into debt.
I get 1 or 2 letters a week offering pre approved credit cards or loans.If I was dishonest i could have taken all these cards and borrowed hundreds of thousands of pounds then done a runner. I aqm not saying the banks are the only ones at fault but they should take some of the responsibility

Scooby

[bluebelle]

Skippy,

We have similar situations. I owe around £64K...6 credit cards and 2 loans....a good job...which is probably why I was able to get lots of credit. I think you are right saying that creditors should take some of the responsibility...if some of them had said no a few times to me I wouldn't be in this mess (although I do accept that I am the prime culprit in getting me in this predictament). A good example for me is in June this year I was around £60K in debt...Lloyds TSB who I banked with still raised my credit card limited by £3,000 (already owed £12K they raised it to £15K!)...are they not supposed to check?...I went on that Experian Credit check website...on there you can see all my debts!
Anyway I am a happy bunny again today! No calls..one letter in the post from Lloyds but not a bad on....plus my IP firm called and said that they had received my draft IVA back..they would send it to my local court today...Tuesday they will ring my local court to get the registration number...then the creditors meeting will be arranged. They have already given me a potential date of 24 Nov!!!!!!! I am really pleased with the progress...at least it is something new to tell my creditors should they ring. If all goes to plan, all will be done and dusted in just over 6 weeks from when made that inital call. My IP said that all my general expenditure is set at the 'standard' for a single person so they don't think there is anything contentious in there for creditors to pick at. Just for info they told me that Lloyds TSB never attend meetings.....they subcontract their work out to KPMG (I have had dealings with KPMG where I work as we use their consultant services). Lloyds TSB is about 45% by value for me so quite important to get their vote..been told by my IP that they are normally quite receptive to IVAs...so fingers crossed, I may be all sorted in 3 weeks.

[Skippy]

Hi Bluebelle, I'm glad things are going well for you. When my IVA was accepted it took a great weight off my mind. Every now and then I think about things and it all seems a bit daunting, but then I realise that I am in a better situation than I was a few months ago. I would have only got deeper and deeper in debt - we have both done the right thing!

[bluebelle]

yes you are right Skippy...definately done the right thing...only wish I had done it sooner....I can feel the black cloud that has been following me around for the last few years starting to go...I feel quite calm at the moment...I will probably be nervous on the day of the creditors meeting though. I think I have said this on another post before but my expenditure on my IVA is far more money than I have been living on in a long long time...me getting deeper in debt was because I was taking money off my credit cards to pay for my minimum payments...towards the end I was taking around £800 per month to pay for the cards plus on top of that living expenses!....that sounds really bad but at least I can admit now..things like food shopping and stuff were very minimal..I think it was because I was scared and felt guilty...so I am not really used to spending money on me....my salary went into my new account on Tuesday and so far I have bought a loaf of bread, 6 eggs and some milk...it is like I am scared to spend any money whatsoever....again probably because I have been living hand to mouth for several months now.