How inportant is the reasons why one gets in debt

[sonyse2t5]

How inportant is the reasons on why one gets into debt in an IVA case hearing? Or is it based purely on how many pence per pound that is been offered. In my own situation I cannot refer to divorce, unemployment(yet),death, or business debt as I just over committed on credit from the late 80s and got my fingers burnt when the interest rates on cards hit 2%-3% per month. I was living beyond my means for many years and using one card to pay for another til I felt this had to stop - but did not ever gamble or take fancy trip abroad or brough anything fancy to show for it. I can offer 55p to the pound and have always paid like clock work for the last 15 years.
I am asking this question as my iva case worker,is asking about the past and looking almost for something dramatic on how the money was spent.

[BECKY]

Dont worry i had my iva approved last september and my debt was just plainly down to me living beyond my means and then gettin in more debt to pay off others

[MelanieGiles]

Hi sonyse

It can be quite important. If the creditors feel that you have been reckless, they may take the moral high ground and reject your proposals. It does not sound to me as if you have anything much to worry about though.

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

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