Hi. Iv recently realised I’m in real trouble & am looking at an IVA. I’ve pretended my debts can be managed by using all my savings on paying monthly premiums & using one credit card to pay off other debts, food shop etc. Iv continued to use my credit with credit cards & catalogues until now that I’m maxed out. Now I realise I can no longer pay anything as repayments are so high & ive no credit left!! Am I able to even consider IVA with so much recent spenditure. I was pretending it wasn’t happening & just continuing to order spend etc until it literally smacked me in the face!!! I don’t know my options of where to turn. I have 2 bank loans & 1 other loan 3 credit cards 1 store card 2 catalogues. My husband had just found out about my debt & removed me from the joint account as my 2 bank loans are with the same bank. Please help!
An IVA is a possibility -- have a chat with a couple of firms to discuss the whole picture. A lot of us were living on credit cards and using them to juggle right up to our IVA's. But, now you have realised the problems it is important that you stop using credit and catalogues now.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk
I used to withdraw money on my one credit card and go straight into the bank and pay across minimum payment to the same card!!
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