www.iva.co.uk

Hi all I'm new to this forum and have been looking though it constantly for a few weeks now.. I did my research on IVA's with a lot of help from reading from this forum and have started the process of an IVA using DebtMatters, I must say they where excellent at sorting out what I had to do. I've got the ball rolling so to speak and sent back the 1st set of paperwork I needed to fill in, and I was contacted a few days ago by my IP who told me my proposal will be posted too me in the next few days for me to look at.. I was feeling pretty good about all this, a weight off my shoulder, and the past few days I have been thinking ''what if?'' I mean, what happens if I'm refused my IVA, what course of action will I have to take, I'm only 23 and I have got myself into *sigh* nearly £50k of debt made up of a loan, credit card and overdraft from Natwest aswell as a few more from other store and credit cards.. Its been playing on my mind now and has got to the point of near on panic.. I have no assets to offer but have offered payment of upto £400 p/m... can you see this being a problem or not enough.. I'm pretty scared...

Many Thanks
Darren

hi darren and welcome to the forum.. i'm sure your Ip wouldn't have proposed your IVA if not confident! I'm sure an expert will be along shortly to give you more solid advise

£400 per month seems adequate Darren, im sure your IP would not put it through if they thought is would fail so dont worry.
Good Luck anyway.

hi darren and welcome!

most of us on here can relate to how you are feeling as it is such a worrying time - but like others have said your ip would not put a proposal together if they thought it did not have a good chance of being approved.

you have done the hardest part by facing up to your debt and getting help to sort it - be proud of yourself and try not to think so much of the what ifs, hopefully it wont come to that as your iva will be approved, so take one day and one step at a time and remember alot of us on here are on the same journey as you, some may be further along, but we are all here to support each other

try not to worry and stay positive - i am sure it will be fine

love barb

I appricate the quick replies, you have put my mind at rest.. It just feels strange to be my age and be in this situation haha.. It takes all sorts I guess, Many thanks to all you guys, I have my fingers crossed every seconds of every day upto the day I find out, I'm just worried that I wouldn't know what to do if I was told no..

Darren

its completely natural to worry.. my creditors meeting is 28th and I'm petrified, just hope everythings ok.. i think when you've felt so low, it is hard to be completely positive!!

keep posting darren and let us know when your creditors meeting is when you know

i have my fingers and toes crossed for you

love barb

Hi darren. We are payng similar on a similar amount of debt. Try not to worry all the what ifs are oh so the norm, so try to stay positive. come on here to ask anything or just for some support if you are feeling down and need a morale boost.

Ang

Good luck for the 28th and thank you, I know what you mean, I was fine upto last year but all of a sudden I see myself in the situation, so all my money matters have been on my mind for about 10 months now and I have only recently decided to pull my finger out.. I guess I was embarrased about the situation I got myself into, and obviously turned into total worry... I do feel a lot more relieved then I did, but I still have the nerves on the edge over what will happen.. Good luck again
Darren

you'll be fine, i'm sure[:)]

@barbara.. I deffenetly will keep you all posted about my IVA many thanks for your help...

@Ang... I'm kind of relieved to read what you just wrote, just down to the creditors now, I will be sure to check back when I need to speak to someone about anything, I appricate everyones interest and knowledge into this... Thank you all
Darren

Hiya Darren and welcome to the forum. You've made the hardest move by getting the ball rolling. Nervous, petrified and worried sick are all normal descriptives of how people feel when they are waiting for their meeting.
Good luck with it and try not to worry too much
xx

I thought that Debtmatters had pulled out of the IVA market?