The stress and anxiety of waiting!

[rockstarloz]

I'm not really asking a question just looking for stories from people who have been through the IVA process and come out the other side. I am waiting to hear when the creditors meeting is. I have had the worst 4 months of my life! I am so anxious and constantly worried that its not going to be accepted etc etc, as I am sure everyone who does this is. I desperately want my life back. Its hard being in a relationship at this time, its fairly new and he has no idea. I try to explain that I don't have a lot of spare cash at the mo but he really doesn't have any idea. Not being able to talk to him about it is devastating. I have always been a fairly tough cookie but I have to be honest, at the moment feel like a big lump of jelly! Debt seems to be a very lonely thing to have to deal with!

[kallis3]

Hi Rockstar, you'll never be lonely on here. We've all either just started, on the way, or come out the other side!

My iva has been running since April. I think it was a couple of months from when the proposal went in before our meeting. I was told that they might not accept mine as I was only offering 31p in the pound and HSBC at that time were funny with anything below 40p. I was really stressed when I heard that.

Both mine and hubbies IVA's were approved with not many modifications. It was a great feeling and we are just about to make our third payment. Long way to go yet, but at least we are on the way.

I won't deny, it is a struggle managing on a lot less money than I had before and no credit cards to fall back on, but we're managing.

Has your proposal gone in yet and who are you with?

[Kazzy E]

Hi Rockstar, I can totally relate to how you're feeling as I am awaiting my proposal to be submitted. We are at mini proposal stage at the mo with one of our creditors, and once we have found out how they are likely to vote, will can submit our main proposal, so we are still a little way off yet. It is a really stressful time, and there have been days when I have felt like giving it up and just going BR, but for us, that would be devastating and I do feel a committment to paying off at least some of what we've borrowed.

I have spoken to my IP's office today (Melanie's) and I must say I had a really down day yesterday, but speaking to Angela today, she has boosted me no end by giving me an update on where we are. They are so lovely there, and are so non-judgemental.

Have you spoken to your IP recently to find out how your case is doing? Perhaps if you did, it may boost you too. Its the not knowing that I find gets you down the most.

Keep your chin up mate. Hopefully in a couple of months, we will be posting the fantastic news that our IVA's have been accepted.

Best of luck to you, Kazzy x

[rockstarloz]

I am with expert financial solutions who have been good. The proposal is ready, just waiting to get paid on monday so I can take my pay out without HSBC freezing my account then the letters will go off to them. I am paying back 58.8p/£ which I think is quite good and hopefully HSBC will accept this!! Scary business! Thanks for the support guys!

[kallis3]

That is a good offer rockstarloz. I offered 31p to my creditors, including HSBC with whom I had an overdraft, bank loan and credit card and they didn't even vote!

[rockstarloz]

Thanks, that has made me worry less. They are the creditors I owe most to, they have to agree otherwise it won't go through. This forum has been amazing, I'm so glad I found it. You really think that no-one else is going through the same thing!

[rockbottom]

HI Rockstarloz

you are certainly not alone in what you are going through, im at the stage where i have to try for an iva and it is a very worrying and stressfull time, but the forum is always open and if you need comfort or advice then this is the place to be, my hubby bless him[}:)] doesnt really want to talk about it so its nice to know i can come here, egg and lloyds make up 50% of my debt so im worrying about those as they can make or break it almost, and ive heard egg are not very nice, do you feel you could maybe confide in your boyfriend it might ease the burden for you.

all the best
rb

[MrsO]

hi Rockstarloz,

I have just r'cd notice today that my creditors meeting is to be held on 15th July, I too am a nervous wreck, Barclays make up 69% of my vote, I also owe to Egg and a few others! Does anyone know what Barclays are like my IP says my offer of 37p and can't see a problem with it but you still worry. I have found this forum a huge help xx

[rockbottom]

Hi Mrs O

good luck for the 15th, im not sure about barclays but i bet someone will know, they too are 1 of my creditors, then again i have so many creditors ive probably got them all, aaarrggghh i have 12 of them and have just missed the 1st months payments im dreading the calls starting i think the phone will be ringing no stop.

rb

[kallis3]

Barclays were also one of mine, not one of my biggest, but again they didn't vote! The only one of mine to vote no was Lloyds TSB and I think they were the ones I owed the least to.

You are right Rockbottom, your calls will start soon. DON'T let them bully you, they will try to. If you can, just don't answer the phone to them.

Mrs O, good luck for the 15th. Fingers crossed for you.

[MrsO]

Hi rb,

Thankyou, I too am exactly the same just missed my first payments as have always paid the by borrowing off peter to pay paul, I am worried about the calls too but I have been told not to make any token payments now. I have 10 creditors. The only people so far who have got a bit funny are EGG I have sent the letters saying i'm going fo an IVA but some are still just sending my bill as normal, Virgin even sent me some cheques, which before I would have used but they have gone straight in the shredder! Don't think I will sleep properly til the 15th. I wish you luck with yours rb xx

[luluj]

we're 10 payments in, and although my car has decided to cost us a fortune this month, we have been able to still live a comfortable life but within our budget!
I am so proud of my husband and I as we have now had a year without using a single piece of credit (well apart from the bank of mum for a new exhaust!)- life is tough, challenging but fullfilling whilst in an IVA - it is amazing what you can achieve when you put your mind to it!

Why oh why did we ever get to this stage! 10 down 50 togo and boy am I looking forward to a long two week holiday some where warm and dry with an all inclusive bar ....well a girl can dream can't they!

[luluj]

I've already done one car boot sale and got £150 - I help at the local church on one Saturday in every month at the weddings during the summer - I volunteered for this for something to do - to my surprise I am paid an honourarim of £30 per wedding! Guess I am putting that away in the "one day I might need it" pot!!!!

Put your mind to it and you can do anything!

[rockbottom]

Kallis i wont let them bully me cause im such a coward im gonna ingnore the calls, i think, or maybe it would be better to tell them and then they wont ring so much, ooo i dont know what to do, my mum is coming for the day on saturday and im gonna leave phone off hook cause i would die if they rang when she was there, also i dont have to tell my 2yr old why im not answering them but my oldest is 12 and he will wonder why im shouting DONT ANSWER THAT all the time because i dont want to tell him, aaarrgghhh why did i spend so much money.

sorry for the rant rb

[MrsO]

Thanks Kallis3,

What does it mean if they don't vote? Is it just assumed they agree to it?

MrsO x