does it matter what you spend money on?

[sjw]

hi are the creditors likely to vote against iva if some of the credit was spent on holidays luxuries as well as just living, food shopping paying bills etc worried if i go into iva they will turn me down. thanks x

[catullus]

Not really sjw.

Most people entering IVA's have to admit to an element of unwise spending and the point of an IVA is to admit to past mistakes and make an offer in comensation. Creditors tend to be forward thinking when voting rather than concentrating on the past.

[sjw]

thanks for your reply feel better already just want to sort things out now ive been pondering on whether to go into iva for so long now, hoping for a miracle. x

[caraf]

Hi SJW
Yes I asked the same questions a few weeks ago! My creditors meeting 27th December.
What is your debt ?? who are your creditors ??

[sjw]

hi joint debt with hubby of approx 63 grand creditors are virgin, capitol one, tesco, next, barclaycard, direct line and barclays (majority ith barclays) have stoped paying most of them now so phone calls have started just worried they will look at what we spent it on and say no way x

[sjw]

good luck on 27th by the way sure youl be fine x

[caraf]

Yes those are the thoughts I had !!! and I also asked can creditors ask for things back ??? and got the answer on her, highly unlikely.
My worst nightmare now is MBNA (Virgin) thretening to sent a debt collector round, frieghten to death

[caraf]

sjw. Have you opened your basic bank account ?? which IP company are you with ?

[sjw]

we owe virgin about 5500 and have had several letters demanding a there debt collecters that call to houyse the same as ballifs ? how long was it after you stopped paying them did they say this x

[caraf]

I telephoned clearstart on the 5th Novemeber, that same evening I cancelled all my DD to creditors. My creditors meeting is 27th Dec, so it has taken 6 weeks to get to this stage.

[caraf]

Melanie Giles logs onto this forum very regularly. She comes high recommended and I think her success rate is about 98%.

[sjw]

thanks for the advice my contact her hope she can help i have already cancelled direct debits as unable to pay so need to get things moving really x

[amir]

I spent some money for buy house just few month ago and now I change my job with lower rate wages,are you think i will be in trouble for apply IVA.they gonna ask me why spent money for buy house and will I push to sell it?
thx

[sjw]

i know i recently moved too with much higher mortgage payments so worried they will feel i brought no be able to pay on myself x