IP advice

[michelle428]

Hi, I have my interview with my IP tomorrow. Does anyone have advice please?

[Mrs_Brown]

Is this the information gather for your proposal?

If so, make sure you know how much each of your bills is and have details of other outgoings. Also have tissues, just in case! As silly as it sounds, a question about my pet insurance made me cry. It was relief, but something so silly set me off. Consider everything, even small things you might not have been spending on because you didn't have funds for it, such as hairdressers.

[Foggy]

IPs and case managers are not the monsters we might imagine them to be ! They are there to assist you and will, I am sure, be sympathetic. Bottom line is that YOU are in charge, not them ! Don't panic and ask amy questions that might bother you. Don't stop asking until you are happy (do not get 'fobbed off' ).

[michelle428]

Hello,

I had my phone call today and all went well. I'm just waiting for the creditors meeting. Direct Debits cancelled and new bank account in place. I suppose now comes the worry as to whether my proposal will be accepted by my creditors.

Nearly there I suppose, but the biggest hurdle to overcome?

Thank you all for any advice you can offer.

Michelle

[kallis3]

They wouldn't put it forward if they thought it wouldn't be accepted. Also, regarding cancelling your DD's - if you have online access to these accounts, go in and delete phone numbers so they can't phone you.

Hope you get a date soon.

[michelle428]

Hi, thank you for the postivitity. Can't say I'm excited as I feel that would be wrong as I've completely destroyed my finances, but I feel a sense of relief that is mind blowing. I was determinded to find away to pay back
some if not all of my reckless purchases and realise that I only have myself to blame.

Michelle

[Foggy]

There is still something positive to be gained from this destruction -- rehabilitation. In my case I feel that years of using plastic 'disconnected' me from the real value of money --- flashing the plastic wasn't actually spending the hard earned. Then, inevitably, the brown sticky stuff hit that fan !!

The first year or so of my IVA I dealt only in cash --- what I didn't have in my pocket I could not spend. As my mum used to say "If you can't afford it, you can't have it !" I reconnected with money started to ask "Do I need this or do I just want it?"

Seven years on from finishing my IVA, yes, I now have a small car loan (less than 50% of the cars value) and a few quid on a credit card, but no more than I could pay off overnight if I ever needed to (Credit cards are good for extra consumer credit protections).

So, your finances aren't destroyed -- they are being rebuilt

[michelle428]

Thank you Foggy for the kind words, much appreciated and I hope that the 6 years don't go too quickly as I'm 52

I'm going to use these years wisely, basically because I have no choice, but I hope to save in the 'Bank of Mattress' and as a result, I may have a little money to play with at the end.

Michelle

[kallis3]

If you need anymore help - you know where we are.

[michelle428]

Thanks kallis3.

FSS make it appear that it's a simple process. I suppose it is to them as debt help is their business and I bet the first person you speak to is on some kind of commison to get you hooked in.

If my creditors don't acept my IVA, I suppose I could go bandrupt, I don't want to. I need my car, it's only worth around £1000, but I think they'll take it off me as I could get the bus etc.

Michelle

[kallis3]

Think positively. If it is not accepted they will lose out on fees. I am sure it will be ok.

In bankruptcy you would be unlikely to lose your car as it is of low value.

[Ajay1992]

I'm with FSS and all I can say (3 months in) is that they are all a fantastic bunch of people. They really are there to help.