new here

[t_bird]

Im new here but already found this ste incredibly helpful and reasurring.
Not applied for IVA yet...only just managed to get my husbands head out of the sand.
Debts in excess of 60K already secured loan of 100k on house worth 180k with mortgage for 74.
Feel very dissapointed in myself and let down by husband. Also very scared that we wont get accepted then dont know where to turn to next.
Joint acount, current account and savings (only£50) account with bank that we have one of the credit cards with and also a loan. Should we change banks now?
Thanks in advance for the help and support

[Lisa2009]

Hi t bird and welcome.
Please make sure you take advice from more that one insolvency practitioner to be sure you are absolutely comfortabe with the advice you get.
You can find lots of IPs and reviews on www.iva.com

Dont beat your self or your husband up too much, you are not the first and you deffinately wont be the last. The main thing is you are now facing it.

[Viki.W]

Hey t bird, I'm no expert as I'm new to all this too but I think it depends on your bank. So far LLoyds TSB have let me keep my account and I owe them lots. I would maybe try opening a basic account somewhere else just in case your account is frozen, that's what I've done. If you do all this before your IVA then I think you'll feel better. Good luck, v.w

[MelanieGiles]

Hi there - and well done to finally discussing this with your husband and deciding you need to do something positive about your debts. With spring now here, it is time to dust out the cupboards and get rid of those nasty phone calls and letters reminding you of how much you owe!

If you have debts with the bank you currently bank with then you will need to open a new bank account to receive your salaries and pay your bills. I recommend the Co-op Cashminder account which gives good facilities to people in financial difficulties.

[t_bird]

Thanks for your support. One more question spring to mind, I have a loan with Northern rock who we also have our mortgage with. Do I have to include this on the IVA....dont want to do anything that might put the house in jeopardy?

[MelanieGiles]

Yes - if the loan is unsecured it will need to be included in your IVA.

[Soulgrowth]

Hi t bird

Please don't beat yourself up too much ... it is an easy situation to find oneself in ... as many of us here have. The most important thing is that you are taking responsibility and addressing your debt problems.

Make sure that you stay in touch with the form as there are lots of people here who can offer you both expert help and emotional support [:)]

All the best

Debbie

[kal]

Hi,
Just wanted to wish you best of luck - I too have a mortgage with NR and an unsevured loan and they have been very helpful and accepted our proposal with no problems - the only thing we had to do was drop down to an interest only mortgage for the term of our IVA.
We changed our bank to Lloyds TSB and are very happy with them.
k.

[angela18]

Just wanted to say Good Luck.. we are in process of proposing IVA, and once problem shared with IP you do feel a whole load better.. and that there are options out there