Well, today I have spent about 6 hours sorting out paperwork etc in preparation & subsequently realised that I now owe £10k more than when I last totalled it up which was around this time last year. If only I had sorted it out then rather than struggling on & ending up with more debt as a result![:(]
Oh well, at least I'm on the right track now. [:I]
It's nice to know I'm not the only one! Although I can directly see what landed me in this mess (8 yrs of f/t education / relationship breakdown / loss of equity / subsequent expensive rental market as a single person), it does seem pretty shameful as I've got a really professional job with a good salary & am super efficient at work. I just tackled a MASSIVE pile of unopened letters which I have been avoiding for ages [:I]
I am at exactly tha same stage as you - entering into and iva, a professional ,
great salary etc
It is a huge relief to admit there is a problem an if
There is a support group such as AA then this is it.
My husband is still not speaking to me and I know it'll be bad for the next few weeks
But get a good IP and things will start to improve c
Never talked about this before or posted it but this was the final end to realising something had to done and that's when I took my head out of the sand.
I tried my last (stupid) consolidate attempt all loans together (45K) as secured on the house.
Was approved but there is ownership problem and I was suddenly struck with a huge gout attack on one of my legs. Having mananged to get to the outside of A&E my phone rang and I had someone on the phone asking what was the problem getting the loan approved. I was sat on a wall outside A&E telling this (di***he*d) i couldn't get the owners of the property to agree the secured loan as we were estranged and in massive pain and as outise A&E and nothing i could do.
THe verbal abuse after that was then intolerable as this person sulked on his lost commmision was appaling. Obviously I hung up but thatwas my trigger for the IVA as loan after loan was a just a dead end.
Last Payment - November 2011 - Completion Certificate received 2 weeks after last payment, Removed from Insolvency Register within 4 weeks after last payment.
Definately not alone there Puppy i have been there, done that and wore the tshirt too, you have now taken that all important step to realise that you can't go on. Good luck with whatever path you take to stop any further debt. xxx
Om shanti, namesté, good luck to all who are embarking on the IVA journey, it isn't always an easy one but the outcome is the best.
IVA COMPLETED August 2012, received Completion certificate 18.4.13.
6 years later, in hindsight was the best conversation ever.
I had a huge problem and debt consolidation wasn't the answer.
Maybe I should thank them for pushing me into an IVA!
Last Payment - November 2011 - Completion Certificate received 2 weeks after last payment, Removed from Insolvency Register within 4 weeks after last payment.
As we are all baring our souls.. here goes. I was left a third share of a bungalow owned by my parents. I had my own house so decided to sell and move into the bungalow and pay my sister's off with the proceeds of the sale of my house. Cutting a long story short, I moved in with one of my sisters and met my partner. He moved in with us and has not been able to work since due to chronic pain and neuropathy. I realised at that point that I had £70K debt! We sold the house and I paid off the majority of my debts but still leaving about £20K owing which I thought I could manage. More credit cards later I ended up not being able to pay these and the rest is history... We live and learn! (Hopefully). I just wish that I had entered an IVA 5 years ago and I would be in a much better position now. As they say, pride comes before a fall! I too am a professional and I stupidly thought that people like me did not end up like this! How wrong I was.
You are doing the right thing and for your sanity and peace of mind, you won't regret it!
Take what life throws at you and hold your head up high. You're only human after all!!!
Puppy, as everyone else has said you are not alone. Indeed it takes a reality check and in particular one assisted by a good IP admin team to make you realise just how far out of touch with the actual debt you really are. From a personal point of view until I got my head out of the sand and actually talked through the problem that I had been ignoring for more years than I care to remember that I realised just how much debt i was actualy in. It also helped me to see where I was spending it (mostly on interest to loan companies in my case)!.
Rod
Most day's you feel like the statue but just once in a while you get to be the pigeon!
