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blackhole
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Joined: Wed May 03, 2017 6:47 am
by blackhole » Thu May 04, 2017 1:40 pm
Hi, so I have been reading through the forum as a guest for a month and registered with it yesterday and I'm finally feeling brave enough to write today.
So we have started the IVA process yesterday and just waiting for the information to be wrote up for us to sign.
We have got huge amounts of debt which was fine as we could afford the payments but then my husband got made redundant in September from off shore working and we had to start using credit cards to live as his new job didn't pay half as much as his old one. We don't get any help from benefits and I don't work due to having a 3 year old and 1 year old... our childcare costs would be more than my wage.
We are both suffering hugely from depression mainly because of this debt and me more so since my son was born.
Anyway the lady on the phone was lovely.... but there are some questions I have got......
she said the meeting date should be about the 26th May.... we have cc and loan payments to come out before then, do I cancel them? When I asked her she said she couldn't tell me if I should or shouldn't. My worry is if I cancel them and my IVA is regected we are then behind on payments....not that we can afford the payments anyway.
Also the meeting date is when we are away abroad....will this be a problem? Why are we abroad when we have such huge debts?! well my brother died unexpectedly last march at the age of 21 and my sister who lives in gibraltar is getting her baby christened.... we have payed for the flights back in January and my parents are giving us the spending money (they don't know our situation only that we can't afford to go now)

I just want to cry all day, I am so scared our iva is going to be regected as its such a large amount of debt and I just don't know what we will do.
I have enjoyed reading all your stories and getting to know you from your posts I just feel so lost
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kallis3
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by kallis3 » Thu May 04, 2017 5:30 pm
Hi,

Firstly - we have all been where you are at some point.

You don't need to make any payments to your creditors but I do advise if you have any online accounts you go in and remove contact details as they will try and contact you..

Please make sure you are happy with your company before signing anything.

Don't worry about being abroad - already done and dusted. Which company is it?
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Foggy
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by Foggy » Thu May 04, 2017 6:01 pm
Don't worry aboput the payments -- if you cannot afford them they are going to be missed anyway !

How long either side of the guessed meeting date are you going to be away ? Just tell the IP to arrange the date when you are here. Although it makes little difference, you do need to be available on the day in case the creditors want to negotiate any points.
blackhole
Posts: 8
Joined: Wed May 03, 2017 6:47 am
by blackhole » Thu May 04, 2017 6:17 pm
We are going with Vangard, they have been really good so far. We come back on the day of the meeting but will be available to talk on the phone and help with any problems even though we are away.
We need to sort out a new bank before they will put the form forward and then 16 days from then
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moira717
Posts: 195
Joined: Tue Feb 14, 2017 10:53 pm
by moira717 » Fri May 05, 2017 6:57 pm
Like kallis said we have all been there. I had got myself into huge without my husband knowing, much of which before we met. Last Christmas I knew couldn't go on. I felt my life was over. However I took the step to seek help in January this year. My iva accepted in April and feel I am in control again. This site has given me such support. I now feel I have a life. For me the iva was a lifeline. I wish you well whatever you decide to do. Debt is a strain physically, mentally, emotionally etc when you sort it, it gives you such a release. Good luck
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