Just received all the paperwork to complete. Pretty scary reading and a busy weekend ahead getting statements etc together. The worst bit though is the “Narrative”. I just don’t know where to start, what sort of information do they want ? I wasn’t expecting this. Perhaps my answer should be “We are total bloody idiots who buried our heads in separate piles of sand and lived beyond our means with no thought for the future, borrowing Peter to pay Paul until it all came crashing down around our ears”. Hardly think that will go down well though . I feel sick; it all seems very real.
That is basically what I put ! For me though it was borrowing beyond our means, building up (creeping up!) over a period of years and also borrowing against expected pay increases which didn't happen due to Mr Osborne and his austerity measures.
They just want to know that you haven't been reckless.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Jackdaw wrote:That’s it though ... surely getting this much in debt is reckless :-/. We had holidays on credit etc as well as living beyond what we should have.
Didn't we all Jackdaw? Don't over think the narrative, just make a basic statement, reckless or stupid we all are guilty of one or/and the other. They don't want a 2 page narrative, mine was about 2 paragraphs at best.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
I agree - most of our stuff was on credit. In one year we had 3 holidays all paid for by credit. We just told the truth and had no problems.
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
