hi, i have taken a debt management with payplan, they are asking me to write a profile of how i have got into debt so they can pass this on to my creditors, i understand what it is they want but just dont know how to put it into words, are there any examples available
When writing it be as open and honest as you can be ... speak freely as to what happened and why as the more honesty you can display will provide your debt advisers to produce the best case history for you..... good luck
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
You just need to write it as it is. There is no right or wrong way to put it down.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I had trouble with this too at the onset of my IVA enquiry but just wrote it exactly as it happened and only had a couple of paragraphs and emailed it to my IP who said it was fine.
As others have said just write it as it happened and I'm sure you'll be fine too.x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Just write in your own words how you got into debt. Start with the first line of credit and end when you found you couldn't make payments anymore. Mine was along the line of, "got my first card and overdraft at university, carried on accruing credit in my first low paid jobs after graduating, took ut a consolidation loan and maxed out the cards I had kept for emergencies and here I am unable to make my minimum repayments". There was a bit more detail but that sums it up. I also put in where lenders had refused informal arrangements or otherwise been obstructive e.g. Not letting me shut down a zero balance credit card.
As all above have stated...Just be completely honest and candid about how you got to where you are.
At the end of the day your creditors are only interested in getting as much back off you as they can and if that is to be achieved via an IVA, rest assured that is the route they would agree to.
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".
A lot of people struggle with this bit, but what you need to remember is that no one will be judging you and there is no right or wrong answer. The reason we ask for this is to put your story forward to your creditors. Like the others have said, just be as honest as you can and put it as it is! You can't do anymore than that.
Now managed by Jane Clack - Payplan Company Representative
My own top tip is to keep it short and to the point, War and Peace isn't necessary, but do include any relevant specific events which have had a major impact, such as birth, death, marriage redundancy etc.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
size5 wrote:
My own top tip is to keep it short and to the point, War and Peace isn't necessary, but do include any relevant specific events which have had a major impact, such as birth, death, marriage redundancy etc.
Regards.
Hhaha going to war was partly to blame for our debts. The extra cost of childcare while I was away in the gulf and the wife was at university was horrendous!!!
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
I agree with the comments already posted. Try not to make it too long - one side of A4 max. I suggest including dates of when things happened and the amount of debt you had at each point. This will show how your debt grew over time.
