So embarrassed

[drowning-mummy]

Me again!

I have 15 creditors. Can you believe that?
Is that too many?
Has anyone else had that many creditors?
Is that a negative for when it goes to vote?

[facingittogether]

me and hubby had more than 15 creditors! am not proud of it but its true!

barb x

[drowning-mummy]

Sorry Barb, I havent had the chance to read your story yet as new on forum today.
Was it a problem for you? Having this many?
Did you get an IVA ok?

[LastResort]

Hi I'm new here [:I]

I just want to say thank you drowning-mummy as you have asked a lot of the questions that I wanted to. Thanks to everyone for answering them too lol. I am a single Mom who is also considering an IVA. I'm just doing some research at the moment and this site is fab! I'm getting there...

[facingittogether]

hi - no it wasnt a problem! our iva was approved at the end of april! you have to have a certain amount of creditors to qualify for a iva - not sure if it is 3 or 4 - but if you have more than that - it does not matter - it shoulnt be a problem!

hope this helps to put your mind at rest!

barb x

[MelanieGiles]

The number of creditors you have makes no difference to the outcome of an IVA - and strangely the more creditors the easier it can be to get them accepted.

[Soulgrowth]

Just wanted to say "well done" on taking those first steps ... you will feel so much better.

Make sure that your new account isn't linked to any of your existing creditors, which is a mistake that I first made!

Good luck ... and keep in touch with the Forum as we are all here to support you through your 'journey'.

Debbie

[aguise]

Just wanted to say hi and well done. We had 17 creditors so dont worry.

Ang

[drowning-mummy]

Thanks again everyone. Didnt sleep much last night as the guilt I felt towards my creditors was eating away at me.
I'm sure that once I am in the hands of an IP, things will settle down somewhat. We are still technically riding this alone and its very scary!

More questions:
We wanted to enter into an IVA jointly as husband and wife. Is this allowed? Half the debts are in his name and half in mine, but we always used both salaries when asked except of course the catalogue.

Step to a new me:
Parcel arrived from NEXT today containing 4 items of clothing for eldest daughter, that I ordered 3 weeks ago. Parcel was opened to complete paper work and then returned with courier there and then. She didnt need the clothes, the ones she has are just fine. Shes 2 for goodness sake. Off to a couple of bootfairs tomorrow to get the girls some summer garden toys. Normally I would have reached for the catalogues, but they have gone to the recycling centre and for a fraction of the price (£5 compared to £50+) I should get some good bits.
Did have to take some cash out on CC last night to pay into the bank and buy some supplies. Its been 2 months since husband worked, and my £112 pw maternity pay doesnt go very far! Really had no other option, but I will explain why to creditors when I have to.

I just want to be as organised as possible for our first meeting/chat.
Apart from getting all of my statements and credit agreements together, is there anything else that I can do in the meantime?

[MelanieGiles]

IVA as exactly that - individual voluntary arrangements, so there are no options to do a "joint" IVA - although if you do not have sufficient disposable income to offer an IVA without the support of your partner, then they will be proposed as "mutual and interlocking" arrangements - ie you pay one payment which is then shared amongst all of the creditors equally.

When does your hubby expect to get back to work?

[drowning-mummy]

He starts with a new firm on monday. Jointly our debts are £25,000. So individually we do not meet the criteria as we dont have £15,000 each. Oh no. Can feel the tears coming.

[MelanieGiles]

Oh that's great news about the job! And don't worry about criteria - we don't operate on that basis, and I promise you I will find you a solution. No tears today please, unless you are a Portsmouth supporter!

[drowning-mummy]

Oh thank you! I guess I'll have to be a traitor to my friend and support Cardiff then if you are going to save me?

Believe it or not, I am an organised person (!), so I'm now going to sit down with an empty folder and file EVERYTHING! In a few hours I will know exactly what we owe and who owes what!

Melanie, Thank you. Heart rate slowing down a bit now.

[Octavia]

Hang on in there Drowning Mummy - you are doing really well. I bet you are already feeling quite a bit better now that you have set the wheels in motion - I know I did! The worst time is when you know full well that you really are in a mess but just can't quite bring yourself to face up to it....like everything in life really - the fear is 9 times out of 10 much, much worse than the reality! I think it is a good decision to use Melanie's team.....I am with Debt Free Direct and had I been better informed initially, I would not have gone with them - they are just too big and impersonal.

Although an IVA was my only option and I'm proud that I am paying back as much as I can afford, I must admit to remaining very embarrassed and ashamed at my situation [:I] and only one or two people know about it. I realise this is pretty silly but it's just the way I am and part of the price I have to pay; I'm sure I will become more relaxed about it as time moves on - I'm only 6 months into it! [:)]

But oh the relief at no nasty phone calls or letters....!!! When I look back to last year, I really was in a state and my health - mentally and physically - was very badly affected by the neverending stress.

Well, everyone on here is actively doing something about their "situations" and we are all to be respected for that. Onwards and upwards!! [:D]

[drowning-mummy]

Thank you Octavia, that was really kind of you to share. The stress is immense at the moment and initially put a strain on our marriage and young family. I've also developed stress related eczema on my legs, back of neck and butt! Its a bit of an eye sore, but doc said it wont go until the stress goes. I really want it to go as I'm an air-hostess and going back to work really soon, so I dont want that on display!

The wait until I speak to one of Melanies team on monday, seems forever, but at least I can get organised in that time and face up to the exact amount we owe. Really hope we can do the IVA, just didnt occur to me that we couldnt do it jointly even though it says INDIVIDUAL!
So I'll try and sit back, trust what Melanie has said in the above post (re: dont worry if your individual debt doesnt reach £15,000 each) and try and enjoy the weekend.