Hi Everyone,
After weeks of reading the forum and getting some useful information i now have found the courage to do something about the debt and the struggle and stresses it all causes.
I emailed Melanie Giles and had a phone call this morning
regarding my state of affairs.
I hope all will go well i feel better for taking the step.
I must say really great help from Tina so far
thanks
jackie
Hi, And welcome to the forum. You have made what many people on here find the hardest step - speaking to someone about your financial affairs!. It's horrible but things will start to move in the right direction for you now. I used to bury my head in the sand. It's how alot of us, particularly guys, deal with stuff like this.
Mel and her team are highly recommended on here so you are in safe hands. I'm just starting my IVA journey - my creditors agreed to proposal last week. I know things will still be tough for several years but I am determined to repay my debts and come out of it all at the other end.
Keep us posted and feel free to ask any questions on this forum along the way.
Hi Winter,
thanks for your post really pleased you are sorted , im the same at least theres a goal and many lessons to learn from it too.
I will keep you posted and hope yours goes well too,
take care
jackie
I bave already reviewed the paperwork sent over to me by Tina, and will be arranging to have a chat with you early next week. Well done for making that first call, and welcome on board to the forum as well.
Thanks Melanie and Julie,Helen and Winter blues for your posts,
i will feel more at ease when it hopefully gets in motion,its dealing with the calls one of the creditors keeps calling me at work, i had already written to explain the situation and for them not to call me there.
What sort of time scale does it generally take with an Iva?
Thanks again to Melanie and her team too,
jackie
It generally depends on how long it takes you to submit all of your paperwork - but we generally work on six to eight weeks and that seems to be the average.
Hi, not really sure where to post. my mind is working overtime with everything i'm trying to take in having found out a few weeks ago(my husband had been hiding things,feeling he could "sort it out".)that we have so much debt.
We went to the CAB who are helping us,we've seen a money adviser and are now waiting to go in again in the next week. He told us they normally refer people onto Payplan or Grant Thornton but we now realise there are other choices.We've been searching&reading.
I'm disabled on DLA,husband works. we've got a child in uni which has added to the financial strain along with my husbands wage being cut.he ended up paying for food,fuel etc with cards.It's a mess.
The situation is making me ill and adding to health problems already there.we've even discussed parting,he's talked about BR! the problem being I need physical help,my parents have said I can go and live with them if I want to but they are retired, I'd have difficulty letting them do personal things for me. I feel so vulnerable,angry&frightened.
How common are Full&Final settlements? can any IP arrange them?
My parents have said they MIGHT be able to help with a Full& Final settlement depending on how much we'd need(mainly because of the impact this is having on my health). the debts amount to over £50K.we've got a mortgage &secured loan which are just about up to date,there's no equity in the house.
any advice would be helpful,thankyou
Nothing stays the same...everything changes..hang on in there!
well done on taking the first - most daunting - steps! I think it's really important to make sure that everything is in place correctly rather than quickly as rushing now may create problems later. I know from previous posts that Melanie and her team are very thorough so don't get too hung up on the time - although it is such a relief to know the end is in sight!!
Good luck and use the forum - I wouldn't be anywhere near as happy without it.
The calls at work can be stopped if you phone the creditor and give them updated contact details. Say your work number has changed or no longer valid. I rang all my creditors and returned their calls to keep them updated - that way avoiding being contacted which I certainly didn't want as I work in a profession where it would be looked upon with suspicion.
Hi Rosepetal
Well done on taking that first step, you will feel a whole lot better when you have take advice from 2/3 IP's, if you visit www.iva.com you will be able to check out reviews of various companies and when you have decided they will be able to give you free impartial and non judgementl advice about your individual situation and help you make a decision as to the way forward. Personally I completed enquiries using the tools on here and then they rang me the next day. It was a brilliant/scary feeling that I was dealing with my debts. Do let us know how you get on, there is usually someone around to offer advice and support
sorry. meant to add that I was able to complete a full and final using a pension lump sum payment and it all went very smoothly with Mel and her team who were brilliant
You are at the stage where many of my clients in the past have found themselves - wondering which way to turn or which path to take. There are usually several options which would work for you, and with the generosity of your parents it may well be possible to offer as settlement based on a lump sum - although I am sure that will need to be repaid over time.
You have some difficult challenges already in your lives which must take absolute priority, so seeking professional advice at an early stage is essential so you can understand what options there are and what the advantages, disadvantages and implications of each one and how they will affect you. The firms mentioned to you do a lot of IVAs each month, but as you say there are others out there you could also try. Compare the service, and take time to decide together which is the best way forward.
Thankyou for your replies. I feel as though I'm walking in a mine field. Things are very tense at the moment. We intend seeing what the CAB say in the next week but we plan on ringing another 2 or 3 before we decide.Please can anyone advise what we need to ask besides fees? I expect Christmas will slow things down.thanks again
Nothing stays the same...everything changes..hang on in there!
The IPs you speak to will ask the right questions to assess your options so try to stay calm. Concerns you might ask about if they apply to you are: keeping your house and cars; joint debts when one partner enters a debt agreement; loans from family and friends; how your DLA and costs of your condition will be treated; whether you can contribute to children at university. These are just a few from the details you posted and recent concerns from posters. I'm sure there are lots more questions going round in your heads and you can read the forum to see what other people have been thinking about. I'm sure your husband's intentions were good so best of luck to you both x
