www.iva.co.uk

Any ideas on what info/detail to put on this.

Not quite sure just how much detail i have to go into.

thanks....

Hi,

As ladyh says, can you provide us with a little more info?

i beleive its a background statement to explain why i got into debt and how i can no longer pay my bills.

we had that recently.
just be honest thats all you can do. its a bit soul destrying but honesty is the best policy.
like your mum said im sure.

That is correct - need a few short paragraphs jusdt explaining how you have arrived at your current financial position for inclusion in the IVA proposal. If you are in doubt about any of the thinks we have asked you to provide, just give us a call at the office.

Just put down exactly how you came to be in debt. Whether it be holidays, cars, new furniture.

The creditors will prefer that you be truthful about things.

thanks Melanie,just wasnt sure how in depth it needs to be??

do i need to detail all my debts,how much and to whom i owe money...

or is it more a lifestyle statement??

Just write it as it comes to you - some I get are just a couple of paragraphs - others are pages long. We generally like to know when and why you started borrowing money, what the credit was used for, and when you started to struggle to repay it and the reasons for this.

I wrote an essay for BE - all about OH getting divorced, a subprime mortgage with spiralling interest rates, 2 babies...needless to say BE did quite a bit of editing of it, but I found it oddly cathartic to get it all out.

sent a draft via email.

Getting there![:)]

When we request background stories we normally are looking for pertinent details. Marital breakup, redundancy, sickness, consolidation etc tend to be the main reasons and we just look for dates. However, some clients like Angelrainbow seem to find it therapeutic and occasionally we will receive background stories the size of War and Peace. On the other side of the coin some clients give very little background at all and I remember one client who was asked how he got into almost £50,000 worth of debts wrote that he had bought his children new school uniforms. I often wondered what school they went to!

Soul destorying as has been said. Yes. But for me the most important thing was the feeling of liberation it brought to me. I faced my demons in black and white, and looking at them, they were not so scarey after all. I even cracked a little smile when I posted the letter back, a smile of a sence of peace at the fact I was in control of my finances again

Just be honest with what you put, dont make anything up or embelish. It does help in the healing process

SORRY I have just read this and I sound like an old Hippy [:)]

A lot of my clients tell me how helpful sitting and writing the story actually is - as in some strange way it almost brings an end to the debt problems and starts the next phase of debt recovery. I don't mind War and Peace, but would need more than one sentence!

Mine was chapter and verse I found it quite therapeutic and realised yes they were my debts and the IVA was my way to try and sort out these problems! You can draw a line in the sand and it onwards from this point. It explains why you did what you did if this makes sense x K