www.iva.co.uk

Hi All

I'm at the point where I'm compiling the latest amounts I owe to my Creditors prior to my Prosposal being put together for a IVA and just feel sick how much interest and fees have mounted up and added to my debt by about £2000 in the last month.I had the quote of being able to offer 33p in the £ on last months figures.Just hope creditors will be ok in accepting a lower pence per £1.did anyone else feel like this when in this position?

When I did mine I was shocked! The actual debt tallied up to about twice what I thought it was !!! Every month I was just meeting the interest payments and the caital was never going down !!

All quite normal dunkynuts.

Don't worry - just get all the paperwork back asap and get on the road to debt recovery.

All this proves is that you need to have a debt solution and creditors will approve any IVA where the IP has set out in the proposal that x p in the £ is all you can afford.

Seven years ago I was in the same position.

By the time my IVA was agreed the total was £110,000.

It will be alright, just grit your teeth and wait.

It is scary to see the amount of paper and yes the interest alone accounted for large part of the debt.

You have asked for help and acknowledged your debt issues and this is the hardest thing to do .... Be proud and stay positive... Debt freedom is not far away !