Thinking of IVA, and scared!

[freelili]

Hiya

Just wanted to say, its really scary at first, even getting a reply to your first post, right???? But noone will ever judge you here, we have all been there, well us debtors have. You ask any questions you want, with so much stuff going on in your head and the weeks of worry before the build up to posting here its bound to be swimming. It does get better and you will be feeling youre amongst friends in no time.

Good luck.

[facingittogether]

hi just read your posts and thought how scared you sounded!

i was scared too, me and hubby had mountains of debt, and we were drowning - that was in november - we contacted melanies team (we too felt ashamed) who made us feel at ease and held our hand each step of the way - our iva got approved at the end of april. just wanted to share that with you to tell you that things no matter how bleak can be sorted!

good luck and let us know how you get on!

love barb x

[wisey999]

Thank you all for help, how long does it take for it all to be processed? Should I tell Credit card companies?

[Viki.W]

When you actually instruct an IP, they will contact them for you and give you a letter for you to do the same. I would get the advice first as there are other options, not just IVAs. You need to know EVERYTHING before you agree to anything! Viki X

[Viki.W]

Also wisey, I would post on here some info regarding your debt situation, disposable income, do you own your home, how much equity, how much debt, how many creditors. As much as you can so that the experts can help. Viki X

[facingittogether]

ours took about 16 weeks from the initial phone call! alot of them are done alot quicker within 6 to 8 weeks! ours took longer as nr was our main creditor and we had lots other creditors too!
melanie is so thorough and does NOT put ivas forward to fail.

i dont think you need to write to your credit card companies, your ip will do that, i am sure if i am telling you wrong an expert will be along to correct me!

just keep thinking rather than drowning you are now taking positive steps to get this sorted and it will be sorted and you will be able to get on with your life without worrying!

barb[:)]

[wisey999]

I will have to wait and see. I'm pleased that I found this site.

[wisey999]

I will have to wait and see. I'm pleased that I found this site.

[wisey999]

Have 4 creditor's, owe about £40k, don't own a home, I rent, know approx how much I can afford each month, which would be less than one of my loans per month.

I just wish I had done something sooner, but head in sand springs to mind

[MelanieGiles]

Hi there

Please don't be worried about approaching an IP - we are all human and have families of our own, high mortgages and suffer the increasing fuel and food costs just like you! So we do undertstand that sometimes debt gets a little our of hand and at least you have recognised now that you have a problem which you wish to resolve. That is sometimes half the battle - owning up to something outside your power to resolve.

If you have no assets which would be affected under bankruptcy proceedings, you ought to consider whether that is a better option as well, but an insolvency practitioner will be able to run through all options with you and discuss the advantages, disadvantages and implications of each one.

[freelili]

Hi wiser, dont feel bad, many stuggle on with background debt and dont face it straight away. It kind of hits like a cricket bat one day and you think, why???

But dont, the problem is there and now comes the how...... You will feel better soon, I promise. We all need help sometimes and we all make mistakes.

[Viki.W]

Let us know how you get on and keep posting. You'll get lots of support here. Viki X

[wisey999]

I have contacted Melanie, so my finger's crossed, the ball is rolling.

Def made mistake's in past, but now eventually sorting the problem, at last.

[Viki.W]

Wow, you work fast! That's fantastic. Good luck. Viki X

[wisey999]

Well I filled the enquiry form, so that is a start.