Hi. My husband and I have decided to get clear of debt at last but I'm unsure what to put for our statement. I was told to put in why we were in debt. We overstretched ourselves and then had to borrow even more to meet essential bills like rent. We know we were silly to get into this mess but this sounds like such a stupid reason. Does anyone have any suggestions?
Thank you
Hi
Just list the reasons why you started to borrow money, how this escalated and talk about the changes in any circumstances etc that caused you to overstretch yourselves.
Regards
Hi - just as Andy says really, write down what actually happened. "living beyond your means, holidays household repairs etc"
Its hard when you look back and see a mountain of debt but nothing in particular to show for it. The reason for your debt isn't stupid, its what happened.You're not the first person this has happened to but your facing up to your problems so good for you [:D]
I agree it's a hard thing to write but I wrote it as it was and sent it in expecting it to be rejected but it was the truth and I couldn't add or take anything away.
Just say it like it is and I'm sure you'll be fine x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Your IP will not need War and Peace. Just a couple of short paragraphs detailing when you started borrowing money, what happened to cause you to be unable to repay, and what you have done about this ought to suffice.
If it helps give your IP a ring and talk through the background - they can then write the statement for you.
