Newbie Alert !

[Kingeer]

My 1st post into an arena I didn’t want to enter. Really thought that because I had a good job, own a house, that I could keep on spending money and life would be great

Reality struck a few weeks ago that I owe a lot of money (47k) to a few companies. All of this debt is on unsecured loans and credit cards, with very little equity in my house. I have a joint mortgage with my partner, however she is shortly (April) due on maternity leave and will be on SMP. That leaves me to pay all the bills and try to pay back the horrendous interest charges on my debts. I have had long fraught conversations with my partner and she is aware of my situation.

Having worked out all my finances over the last few days I find that my income will in no way cover my expenditure. Today we have stopped all non essential ‘luxuries’ like Sky, Denplan, Gym membership etc. Also my partner has taken control of my bank accounts to stop me from spending, and removed my credit cards from my possession. She will only give me ‘pocket money’ from now on until a decision is made on how I address this.

I have arranged a call with CCCS for tomorrow afternoon and have lists of questions that I need to discuss with them (DMP, IVA, BR etc). Will listen to what they have to say and probably take a 2nd opinion.

Just wanted to explain my situation as I guess I will need help from you guys to try and pull myself out of this utter mess. I can’t believe with the imminent arrival of my 1st child that I have got myself in this situation – feel such an abject failure.

Rich

[losing our heads]

hi rich us too just joined forum couple days ago trying to get help were the samevery very bad with money and cards and now on verge of losing everything please listen to these people they are soooo helpfull they all know how we feel and how we cant sleep at night but they know the right directions to take and are fantastic at giveing advice or just keeping your spirits up when u feel like there no were to go hold on as the experts will find you xx

[janot]

Don't beat yourself up, you are not alone with this problem, as you will have seen already lots of people have needed the help of this site.

as someone said to me you are taking steps forward once you have woken up to the problem and it seems to me you have done that.

good luck with your call and please look at all the companys out there before commiting to one, i did and we have just had our IVA approved.

janot

[Kiska]

well done for admitting things are not great, that is one of the worst bits over. we are all in the same situation, some are further ahead and have just come out the other side, others are new just like you.

i have been in my iva for just over a year, phew! have a good chat tomorrow, dont be rushed into any decisions. i find it helps if i try to write it all down - hard to do i know but even a key word could help.

well done to your partner for taking control.

[Lisa2009]

Hi and welcome
Well done for admitting to yourself that theres a problem.
You are certainly not on your own.
Take advice from at least 2 or 3 different companies so not to get conflicting advice.
Melanie Giles who posts on this forum is an expert in this field and she comes highly recomended.
Best of luck

mrs skint

[MelanieGiles]

The first step is always to recognise that there is a problem and see what you could do personally to rectify it. Then seek professional advice which you are in the process of doing. Things will probably not seem so bad once you have held your meeting, and do let us know what advice you are given by CCCS.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[mike.s]

Hi Kingeer,
Welcome to the forum, where you will find some wonderful people who will give you plenty of help, advice and support whenever you need it. Taking your head out of the sand and admitting you have a problem is the hardest step and you have done that. You are facing an emotional rollercoaster, one minute you will be up the next crashing down at high speed, but you will get there! There will be a solution for you and there will be light at the end of the tunnel, it will get better, just hang on in there! I know exactly how you feel, the sleepless nights, thinking 'how the hell did I get into this mess' feeling like a failure and that you have let everyone down, been there and it's very dark scary and depressing, so I know what you are going through. You have to think positive now and move forward, especially with a little one on the way (congratulations by the way You will find some great advice on this forum, and I can personally recommend Melanie and her team, helped me out of a huge black hole and I am now virtually back on my feet and looking forward to a new start in 2008 for myself and family. Speak to Melanie direct and you will receive sound honest help and advice, there will be a solution there for and Melanie and her team will give you all the help and support you need to get you through this. Hope everything turns out ok for you, keep posting and let us know how you get on.
All the best
Mike

[Adam Davies]

Hi Kingeer
You have made some of the hardest moves already.
Please post again once you speak to CCCS.
You will get a unbiased second opinion on this forum
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[iva.com]

Hi Kingeer,

Congratulations on taking the first step towards addressing your financial problems. As the others have mentioned, this can be the most difficult part of the process.

Please let us know how your call with CCCS goes. If you do wish to seek a second and maybe third opinion, take a look at www.IVA.com. We have a list of IVA firms and IPs together with client reviews on the services that they provide.

Good luck with finding the right solution for you and please let us know how you get on.

Kind regards,
Terry Balfour
IVA.com

IVA.com - The IVA Comparison Site
100s of reviews, All IPs and IVA firms rated.

Use our IVA firm comparison tool to find best IVA firm for you:
http://www.iva.com/iva_comparison_1.asp

[Martin2011]

Hi Rich, well done for finding this site now, so wish I had at the start of the process of getting back on track.

You'll find great advice and support here from some fantastic people who know exactly where you're at and some of the best experts willing to give their time and unbiassed advice.

May I wish you all the best of luck in finding the right way forward for you and congratulations on your imminent new arrival. As Janot said, don't beat yourself up, you're no failure, and acting now can set you up for a debt free future and the worry behind you.

Best wishes

Martin