Well Folks, yesterday was ‘D Day’ and my IVA was accepted [:D]
I apologise for not posting too much during the months leading up to my creditors meeting. Like for most people I guess, the four months leading up to yesterday has possibly been the most stressful time of my life. The anxiety of trying to manage minimum monthly payments prior to starting my IVA application was, at least in my opinion, relatively minimal compared to dealing with the reality of facing up to £50,000+ debts.
Alongside that of course came the task of coming clean to my wife...
For many weeks before I made that first phone call, I spent countless hours on this forum reading about other people’s experiences and taking heart in the advice and support given by members who had ‘been there, got the tee shirt and are now using it as a duster’
I can honestly say that, if it wasn’t for this forum, I would probably still be sliding down a slippery slope to oblivion. For that reason alone, I would like to say a huge thank you to all the members who take the time to support and advise and who helped me tremendously, mostly without even knowing it!!
For the benefit of anyone reading this who finds themselves in a similar position to the one I faced a few months ago, take that first step, call someone. It is the best thing I have ever done. I said in one of my first posts a few months ago that I felt like I was standing on the edge of a cliff. Well, I stepped off. I made the call. Now the parachute has opened and I’m hopefully floating a little more slowly to the ground to a relatively soft landing.
The sense of relief yesterday was immense. Like everyone, all through the application process, I have felt that I would be the one to be rejected, the one that was ‘not suitable’ but in reality I am just like everyone else. I consider myself to be reasonably articulate, I hold down a good job, was never ‘extravagant’, how on earth could I have a debt problem? Only other people get into debt.... Don’t they?
I’m not naive, I know it’s not going to be easy but... for the first time in what seems like forever, I feel in control. I actually slept through my alarm and was nearly late for work this morning. Something I haven’t done for a long, long time.
One of the hardest things I have ever had to do was to tell my wife about the financial mess we were in. I had tried to protect my family from the ‘stresses’ of day to day financial life. Two words. Big mistake. I now realise that confiding in my wife is something I should have done a long time ago. Things were very difficult for a while after my revelation and I have had to rebuild her trust but it has actually brought us closer than ever and we are a team again. We will get through, I know it.
For anyone who is still reading this that hasn’t already lost the will to live, for the record, I spoke to all of my creditors during my application but I didn’t make any token payments at all. I actually wrote to all my creditors as soon as I had decided to apply for an IVA and informed them of my intention. I explained that I would not be making any further payments to my accounts until such time as my proposal was put forward. I have to say that I haven’t had any hassle from any of them. Apart from a few persistent calls initially from one of them, it has been relatively quiet. (even from ones that have a reputation for bullying tactics) I have answered the few call that I have had during the last few months and just informed them of my IP’s details and that the IVA application was being formalised and on each occasion they agreed to place calls on hold for a further period of time. Perhaps I have just been lucky?
Anyway, apologies for rambling on folks. I really just wanted to say to anyone who is standing on that cliff, step off (metaphorically of course!) Make the call, start the ball rolling. You won’t regret it. I certainly don’t.
Duracel
Finally grabbing it by the throat!
