Good luck Steve for the creditor's meeting, will await the Natwest outcome with interest.
Well my natwest account went over the overdraft limit today after Natwest took the loan payment anyway even though our wages went into Coop account and we cancelled the DD. They just reinstated the DD and took the payment, I guess the charges will come next.
Sent all the paperwork into Melanie's team and just waiting to hear about next step.
Feeling bleak today, perhaps it down to taking me an hour and a half to travel home from work in Birmingham tonight,
Life seems particularly uphill at the moment.
Good luck to everyone.
XXX
7 down 53 to go
The pedal uphill may be hard but remember once you reach the top you can take your feet off and freewheel all the way down!!!
I'm in pretty much the same position as you, just at the start of the process, paperwork just sent in to Melanies team, and just wanting to get the thing started so I can move on. I also have loans and overdrafts with Natwest, and had to do the same as you, ie open up a new account (with Abbey who have been great), move all my money over. MBNA did the same as Natwest and tried to reinstate a DD I cancelled, so I have just cancelled it again before they try to take anything. On Tina's advice in Melanies team, I moved all my wages over to the new account as soon as I was paid, so now my Natwest account just lies dormant, up to my OD limit, but with no active DDs left on it. I feel better just for having a new account that isnt overdrawn and I havent even set the IVA up yet! Its amazing how such a small thing can make you feel so much better. It also makes you so much more careful when you spend any money, because it seems more real when you are in credit if that makes sense - before I had the attitude, well, I'm £4000 overdrawn anyway, so what difference does another £100 make. I'm sure other people have felt this way.
Oh, and if its any consolation, it took me four and a half hours to drive home from Oxford last week. [:D]
Thanks everyone for the positive comments, really isn't like me to be so negative, just finding the whole process so daunting.
Managed to do the journey home in an hour tonight so feeling a bit better today, plus managed to sort out a major finance issue at work which has been driving me mad.
Roll on our IVA (hopefully).
I know what you maen about the account in credit, our wages are in the Coop and it's looking really healthy at the moment.
I also feel redundant as I have not had to juggle credit card balances this month. Just got paid, paid my essential bills, put an amount to one side for proposing the IVA and now drawing our weekly allowance for food and petrol. So far so good.
Keep posting guys you keep me sane.
XXX J
7 down 53 to go
The pedal uphill may be hard but remember once you reach the top you can take your feet off and freewheel all the way down!!!
Natwest did the same with me. I had a loan with them and I changed my bank to Lloyds TSB. Natwest wouldn't let me cancel the DD so the charges built up in the account, and these were added to my IVA.
It is great to see that your new budgeting skills are being put into good practice - and is another reason why we do not like to rush our clients into IVAs that quickly that they do not test whether they can live under budgetary restrictions for a lengthy period.
Yes I am finding the budgeting ok and a good feeling to be using wages instead of credit cards. Forgot what that was like.
I have brought myself a little note book which I carry in my bag and have been writing down every expenditure.
This has really helped to identify where cash got wasted, luckily started this about 3 months ago so have been able to use that knowledge and put it to good use. One of my worst expenses was take aways on my way home.
Senario was, hubby on a late shift, 1 hour journey home and then pick up and feed 3 kids !!! Couple of nights a week we would end up in the take away. Not anymore, when I saw how much that was costing I now make meals at a weekend and freeze them, just chuck in the micro when I get home and away I go,
I will succeed at this, I am determined, in five years time we will be debt free for the first time since we got together.
Hope to speak soon.
XX J
7 down 53 to go
The pedal uphill may be hard but remember once you reach the top you can take your feet off and freewheel all the way down!!!
I am terrible with take-aways as well! Friday night would not be the same without one - but just think how much healthier you will be without!
It is so good to see you coping so well with these lifestyle changes, and I sense that you will do the very best by your creditors which I absolutely commend.
Hear Hear Billy!!! With you all the way hon!! I long for the day with no debt and a savings account with some money in it - not for a rainy day necessarily just so that we can take the kids on a holiday each year or whatever!!! I'm right behind you!!! xxxx
Still gathering info....but hope to be on the right path pronto!!
Hi billy. know exactly what you mean about the budgeting. i've yet to be approved (fingers crossed) but thanks to melanie & her team's advice have been budgeting these past couple of months now and i feel so much more in control than i ever have. i'm embarrassed to say i work in finance and have been surrounded by budgets for years but i never had the foresight to put one into place for my own use !
x
my wife gets fed up with me cos 1st words i say to her each end of day is how much you spent an what on? i need reciepts then i enter into my microsoft money programme
1st time in my life i am monitoring what we actualy spend our money on
and its working
she thinks i am an obsessed mnonster now
whereas before i never checked what either of us spent as long as their was a limit left.
now we in credit an no overdraft. i just want to keep it that way an build on it
I know what you mean about the budgetting, I always tried to have a plan each month, now I realise, thanks to Tina's I&E that it was bound to fail as I was not allocating enough. I my budget would fail and I'd turn to my Credit card, Then I would feel a failure and buy myself something nice to make myself feel better!!!
I have to say we haven't brought massive purchases over the last couple of years but got to the point of consolidating and using cards to live/survive.
The new budget is so clear and its great knowing exactly what we have for each area of expenditure, I have even done a spreadsheet plotting all birthdays, car services, car tax, dog imms etc...and allocating how much of our allowances needs to build up to meet these expenses.
Just pray the IVA is a success, it was nearly a non starter at the beginning so I am really nervous.
Thanks for the positive feedback Melanie, Look forward to talking to you at the appropriate point.
Kindest regards to you all.
LOLxxx
7 down 53 to go
The pedal uphill may be hard but remember once you reach the top you can take your feet off and freewheel all the way down!!!
When I remember your first posts on the forum, and how worried you were about almost picking the phone up, and see how confident you are becoming it is a real inspiration to see someone being so positive about the future.
