Tm
Hope you are getting near to your decision as I say only other people and myself can offer some insight or how we ended up on the IVA road
I was in your situation and know the exact same feelings and things going around and around and believe me thats normal All you are worrying about is because now your problems are at such a point where you need to get legal advice and go through that process scary huh
As I wrote you really need to call somebody from here who are actually advising you These people are taking time out to post and advise without touting for business just giving the correct advice that you take onbaord or not a 5 minute chat will make all the difference trust me o k !
You need to make that call today not tomorrow not next week not more thinking etc as I wrote all they ask is a few basic questions and then they will say Yes you are suitable for an IVA or not and then you can ask if a Bankruptcy is a better option they are the financial experts not me
So let them guide you and then think about it but dont keep putting it off and thinking things will get better they dont You have made the first major step already the rest is just a process so I want to see a post from you tomorrow that says you have made the call !!
Speaking from my own experience I dillly dallyed ( how do you spell that ) and thought give it another month ok I made it do another and all you are doing is putting off the inevitable and every week month you postpone is time to add on to your finish date
I was in a blur for 6 months and so the sooner you get the ball rolling the better you will feel and then also you will lose that angry feeling so instead of beating yourself up You can start to be positive and take control back into your life Cliche word warning alert Empowerment !
Honestly if I knew now what I did in those dark days before I started my IVA I would have kicked myself for hanging about !! This is 1 of those things in life that only you can do and when you do come out of the other side you will be a whole lot tougher and stronger than you thought you could be Yes its easy for people to say do this or that coz they have been through it but they are the only ones who can help you out at the space you are in now
Also with your concerns about taking care of your parents when you do your Ins and Outs for your IVA Budget you will most likley find out things that you can provide for out of your allowance that you never thought about
and when it comes down to your figure that you want to put forward as your monthly payments then it maybe that its something well under what you expect Dont think coz you have a £1000 salary you have to pay £300 £400 £500
Lets have a stab in the dark here £20,000 paid back over 5 years is
£333 per month no interest So lets imagine thats your absolute top price
So now you work out your budget to see what you actually have left at the end of the month
OK Rent lets say £400 per month Travel to work £50 Food and drink at work per month £30 Clothing allowance £20 per month etc etc etc
I dont know what you get for car allowance and tax and insurance so when your IVA compnay works that out for you they will come back with a figure that you can reasonably and comfortably pay for 5 years
It maybe as little as £150 per month £100 per month for example or lower who knows I have seen quite a few posts at around the £200 per month so thats £50 per week
Every IVA is '' Unique '' so dont think you will be paying a huge amount per month I thought I would so thats why I am telling you its not the case
Also in here I have read people with 2 and 3 times more debt than I had paying 50% less than me so thats the point to take on board
1 thing is for sure you will be paying a lot less than you are now
Also as I keep saying about being positive once you start the IVA you are cutting your payments immediately its off your mind and then see how you go from there
As time goes by you may get used to it and can adjust your life to fit better and cut out the things that got you here in the first place Ie phone at £37 per month Thats £2220 for 5 years
You get a mobile allowance anyway so after a few months get a cheap mobile and payg and you can save that amount
