Not sure if I've done this right...!

[kallis3]

Any questions you want to ask we're here for you.

[Tina Shortland]

ASk as many questions as you like gbenno - both on here and of the experts you choose to contact. You have to feel comfortable and informed to be able to move forward with peace of mind so do not be made to feel rushed into a decision and never be afraid to check and recheck the finer detail!

Who you have represent you will make a big difference to your overall experience as you'll see from the many posts on here.

Regards,

[gbenno]

Well it's been a few days since I last posted, and a lot has been going on in the background. I spoke with Tina S at length on Friday evening (thank you again for being willing to talk to me outside 'work hours' Tina) and I'm now certain that an IVA is the right option for me in my circumstances.

Tina has answered every question and addressed every concern as well as being incredibly reassuring about the process and what's involved. What was very interesting was that she picked up on errors with the income/expenditure analysis that the CCCS put together when I first spoke to them; there were things that they had put down too low or not at all - it's clear to see where Tina's knowledge is beneficial.

I had confirmation of the new bank account through over the weekend and that should all be set up within the next few days.

Here's the really liberating thing; for years I've lived with the 'fear' of damaging my credit file, and I've somehow managed to just about make it through to this stage. Over the weekend, the realisation dawned that a credit file is only ever important if you want MORE debt... I wouldn't be able to remortgage with my u/s debt level, I don't WANT more unsecured debt; therefore, I can stop worrying about my credit 'score' and begin to sort things out. With that in mind - and considering also that to meet the payments this month would be impossible - I've stopped all my Direct Debits to the lenders, and letters will be going out to them later this week explaining the situation. I'm prepared for the hailstorm of calls and letters I'm about to receive from them, although I'm sure I will have a few 'wobbles' along the way. I think the important thing is that I will be explaining to them what's going on, and that steps to sort things out are underway - I'm not just 'going silent' and ignoring my debts.

I'm taking a call from the CCCS IVA folks this evening as it was already set up in the middle of last week, but I'm now almost certain I'll be going with Tina & Melanie to start down what I know will be a long road to getting an IVA in place and underway. It's very encouraging to see the level of involvement that Tina and Melanie have on here; companies or individuals who aren't above board would shy away from such fora, so it speaks volumes about the integrity and confidence they have about what they do and how they do it. It's also telling that in the time it's taken the CCCS to get someone in touch with me, I'm already several steps further forward with Tina.

So it looks like tonight is decision time and I'll be taking the red pill...

[kallis3]

Glad you have got yourself sorted - you sound really positive this morning!

You're with a good team and they will certainly help you out.

We're here as well for any questions you have and Mel is normally around late at night.

The red pill sounds good.............I take it you're going to see how deep the rabbit hole really goes!

[Shining]

I'm with Melanie and her team and can only speak from persnoal experience but the service you receive is 1st class. You're doing the right thing talking to another company though and making your final decision later today.

It's a long road at times within the IVA but all in all you'll get through it as I do with the help and support of the forum and a good IP. x

[gbenno]

Thanks kallis and lesley; I'm beginning to think my only regret is not looking into this sooner.

kallis > I wondered whether anyone'd be geeky enough to get the pill reference..!

[kallis3]

Unfortuntely yes! It's my favourite film!

[Shining]

Hindsight is a wonderful thing and I would have looked into this earlier had I dared to, I was always putting it off as there was always something around the corner to put things right or so I thought.....

[gbenno]

Absolutely understand what you mean; I always felt like I could sort things out myself if I just worked harder or longer. I've come to realise that it's more than I can deal with on my own.

[kat68]

from personal experience, i have found the iva advice bureau, tina, melanie, and the rest of the team faultless from the very first call to having my iva accepted last week. and i have every faith in their over seeing of my iva over the coming years.
they are informative, thorough and very important i feel, always available/contactable.

all the bestx

[gbenno]

I must admit that I'll be apprehensive right up to the point where the IVA is accepted or declined. I know it's not a certainty, nor a 'quick fix'. If the IVA is unsuccessful, bankruptcy would be my only other option at that point and it's a path I'd like to avoid entirely if possible.

[Rosepetal]

Hi, well done for facing the problem,my hubby had his head firmly in the sand so you're not alone on that score!

we had our IVA accepted in Feb this year,we spoke with Tina and went with Mel too - you're in good hands. our situation was a real mess,i hope that gives YOU HOPE too! without the IVA we'd have had to go BR.

our basic bank account is with Co Op. we felt guilty but stopped all min. payments to get a emergency fund together. your fears of it not being accepted are feelings we've all experienced,you're not alone x

[andrea1968]

well done gbenno for taking the plunge-the fact that you are already budgeting will be an advantage-as often we are using credit right up until the iva is considered.
Best thing is all your hard-earned money is being used positively-you are paying off debt without the charges and interest and know when the finishing line will be.

We were so relieved when we got off the debt rollercoaster.
-as for a good credit rating-wouldnt worry me-thats what got us in trouble in the first place!!!!!

[kazzafunk]

Well done for making the decision and choosing a great team. I think we all wish we'd done something sooner, but the positive thing is we are now. And it feels good!! I must admit I have stopped paying anything to anyone and still feel a bit guilty, but they have had enough interest over the years from us! Hubby jumped on the bandwagon when I explained what I was doing. Turned out he had more than I knew about and I used to write the cheques for him He just burnt the bills! It was never going to go away so we are both making a fresh start. The only stumbling block is he wants nothing to do with the paperwork (he gets very confused and stressed - prob why he's in a mess too). Hopefully between me and the IP we can sort him out!! Hope it gets accepted, although we do have the BR option if necessary. Don't really want to do that though as we spent the money so we should pay as much back as possible in our view.

[gbenno]

Don't really want to do that though as we spent the money so we should pay as much back as possible in our view.

I'm sure Tina will confirm that my motive was the same. I'm not trying to run away from the debt, or to try and avoid paying it. I genuinely want to pay as much back as I can realistically afford to.

As there is a way of doing just that in a way that satisfies the lenders and I and which involves writing off a proportion of the debt, I would be foolhardy not to take that option.

I daren't calculate how much I've already paid in interest over the years, I suspect I would be mortified.