I was contacted by a company about ivas and im thinking of going ahead but in the last few weeks ive spent about 3000 on my credit card. In total we have about £50000 of debt. Will it go against me having spent so much recently?
Firstly, well done for recognising that you need support in managing your debts. That's not always easy!
With regards to spending etc, many people get into IVA's because they've suddenly realised they just cannot maintain their expenditure, and this could be through gambling, shopping or even debts that consolidation debts covered in the first place.
Speak to an IVA co and explain your circumstances and be honest. They will give you support and advice you need.
Started IVA 27th Feb 2012 - Due to complete 27th Jan 2018 !!
Full & Final submitted and accepted 30th March 2015, paid 10th April 2015 - 3 yrs 1 month into IVA
Completion Certificate received- 30th April 2015!!
I can only echo the advice above. Do some research ( looking around the forum is a good start) and choose your own company. Personally I would avoid the cold callers.
The important thing with your spending patterns is that, once you realise you are in difficulty, you stop spending. This often happens after a big spend tips the balance.
What have you been spending on ? Anything that can be returned ?
The important thing is to start chatting to a few companies to sort things out.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi Amy, I was still spending right up until the agreement. IF you are insolvent and creditors will get a better return than Bankruptcy, you are likely to be accepted.
Hi Amy - You say 'we' have about 50,000 of debts -I presume some debts are joint with your partner so you may both need to take insolvency advice. The point is now that you realise you have an issue try to keep your spending down! Good luck.
