Im waiting on my creditors meeting in a few weeks and im so worried i cant sleep.my girl and i broke up and i owe her a few grand.when she left she got quite a bit of stuff from littlewoods and ordered it for herself and had left me to pay it.i originally didnt include it in my iva proposal bjt i realised i couldnt pay it back.im worried that they may think i ran athe bill up before the iva .ive six creditors and most of them are with the insolvency exhange should i be worried ?
Not worried, but you should be upfront with your IP. If these debts are in your name they must be included in the IVA -- to leave them out on purpose could fail the whole arrangement.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thanks for your reply.i have told my ip about the extra debt and he has including it but im.worried incase littlewoods think i deliberatly ran up the debt knowing i was going into the iva .my ex girl done it and left me with the debt.
Most of us continued to run up credit until the lights suddenly went on -- in many cases it was a case of having to in order to pay bills, or provide necessities.
The important thing is that, once you realised you were insolvent, you ran up no more. This is usually taken as the point you took the advice of your IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Congrats in making the first steps towards a debt free future
I know exactly how you feel the sleepless nights the nerves worry and anxiety It's awful BUT be proud of yourself
You're doing something to remedy the situation and this forum was and is a godsend and especially in those awful early days - I'm feeling bad because I haven't been on here for an awfully long time but it really was and still is a comfort blanket to me
All I can say is try and not beat yourself up
You're amongst friends who will help and guide you through your iva journey
What worries me the most.is that on paper it looks like i ordered goods from the catalogue while applying for an iva .the truth is my vindictive ex girl done it because i owed her money.once i realised what she did i got the debt added to the iva.could they think i dont this intentionally ?
I doubt they will think that but at the moment you will over think and analyse everything due to the worry
The main thing is its a debt and that has now been accounted for in your iva proposal
No one will come pointing fingers as you've already given your statement to your ip ?
As in your explanation for the debt ?
Like I said this is the time you need to remain strong and focused its hard but try and occupy your mind with other things to stop the worry overtaking your life
I know exactly how you feel and even though mine is over I still remember very well the feelings of guilt and fear and be honest sheer terror
You will be ok just keep posting in times of need and remain positive x
Last edited by flumpy dog on Mon Jul 07, 2014 10:48 pm, edited 1 time in total.
They probably won't scrutinize it that closely. You have drawn a line in the sand and are now trying to rectify the situation. There are thousands like you, I and flumpy dog doing this every year.
Take the advice of your IP and keep the lines of communication open. Don't be afraid to ask any questions ( even if they seem daft to you --- you can bet there is someone reading with the same question but afraid to ask!).
Who are you with ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
As others have said you have taken the first step to debt freedom. Your IP has added the debt to your proposal to creditors and the important thing now is that you don't add to your debts. Use this time to save a little frim what would have been debt payments to your creditors. Stay busy and hard as it seems don't worry over it ..your IP will have put the best option for you to your creditors.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Littlewoods are usually a supportive creditor but regardless it is unlikely that they would have a swing vote. You did right to let your IP know in case any queries are raised. Hopefully it will all be fine.
Squig, I was running up debts on overdraft and cards right up until the start of my IVA. They wont mind. They will check you dont have the capacity to repay and if that is the case and their return is better in an IVA than any other vehicle, they will likely agree. You are in the worse part of the process (the uncertainty), but if you have a good company behind you, you will be ok. They won't submit anything they do not think will be accepted. GL
