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Sorry for all the questions - I'm just doing my research. I have been told to write a few details about how I got myself into this situation, which will be presented to my creditors at some point in the IVA process. The problem is that although I have a few valid reasons (2 redundancies, health problems), there are many more inexcusable one like comfort spending. My debt problems started at university, which was over 8 years ago, so I can't really point to specific reasons. It's been more of a snowball effect.

How honest have other people been when they have writen these statements? And what's the best way to do it?

I would just tell the truth. I put that I had to move house due to my kids disability, after a fight with social services and they wouldnt help me at all.(took them to the ombudsman, got myself a house) I had to move within i week and I couldnt take the time off work and was forced to pay rent on two properties, plus the expense of moving with a family on my own. I borrowed money to meet the cost, then lost my job, end of housing problem, start of debt problem. At the end of the day youre trying to sort something out and not burying your head in the sand anymore, if they want to judge you let them, hold your head up, be honest.

LILY

Same with me really - my debt started at university and then snowballed an you quickly find yourself in a situation of robbing peter to pay paul (or as someone said on this forum once it wasn't just peter it was all the disciples!) Ours escalated due to some health costs and borrowing money for health care but the amount you have to "borrow" each month rapidly escalates until you find yourself overwhelmed. Like Lily we were just honest in setting out how it built up and I would say that this is all you can do. I know its very hard to see it in black and white but don't be afraid - you have decided upon an IVA as you have realised you need to resolve your debt once and for all so please don't be worried about putting it down on paper.

i think the best thing for you to do it, think about it chronologically using dates e.g. may 2004 this will help when your personal history is written.

Hi again lonely

You have already provided enough information in your post above. I would discuss those areas a bit further with you, but at the end of the day the insolvency practitioner does not need "War and Peace", but four or five short paragraphs honestly explaining what has happened.

In my experience, creditors are far more interested in what they are getting back from you, than the reasons which led to to the debts in the first place.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

I agree,this is somewhat of a formality and its best to just be honest.