www.iva.co.uk

hi have been considering iva for some time but have not started process because i am worried that i would be rejected as i am still spending money on credit cards to pay for bills petrol food cloths and xmas and about 2 months ago paid for holiday on credit card i know its stupid but have been putting it off and finding it difficult to keep up with payments without using more credit. worried that what i have spent money on will go against me and the fact that some are recent thanks x

Hi there.
I think the best thing to do would be to speak to a couple of companies and see what they say. The thing is that the credit will run out at some point and by continuing you could be making matters worse. There is always a solution so try not to worry. I would talk to Melanie's company and see what they say just to get an idea. There is always an answer. You are realising there is a problem, better to deal with it. I only wish I had not waited so long to lift my head, I would be a lot closer to an end now. I have to say from my point of view an iva was the best decision we ever made.
Deal with it now and you will feel better.
Hope this helps a little.

Ang x

Please visit my blog at http://aguise.blogs.iva.co.uk/

I don't think generally that what you have spent will count in your favour, nor against you. The way to stop the spending on the credit cards is to stop making the monthly payments (which is what you would be advised to do if you were applying for an IVA).

The only issue I can see is that if you have put your holiday on a credit card, then you presumably have the disposable income to make the minimum payments. That might not be the case, but it is my immediate thought on your circumstances.

One of the experts will be along soon to give their thoughts on the matter.

Most people continue using their lines of credit right up until the time they take professional advice, but if you have realised that you are borrowing money you will not be able to afford to repay you should stop now, and take advice from an insolvency practitioner as to the options you have available to you.

No one is going to judge what the money has actually been spent on necessarily, but if you have been borrowing recklessly this is something that an Official Receiver may comment upon if you were to go bankrupt.

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

i am going to be totally honest here even though i know i will be hung drawn and quartered for it-- i booked the holiday on the card as i knew the credit was running out and that i would have to look at some solution and as a result would not be able to get anymore credit and if entered in to iva would not be able to afford another holiday for several years = so booked it as last treat very very stupid i know but was feeling things were not going well in life and wanted a treat i could not afford - please dont be too harsh. x

Nobody is judged on here, I have made lots of bad decisions, what is done is done. Now the thing to do is to deal with it, yes ther may be no more credit for a good few years, but credit has brought you this misery. Look how much better a lot on the forum feel without credit, you will feel the advantage, just start to look for the solution now. As i suggested fill in Melanies contact form , you will get honest good advice from them.

Ang xx

Please visit my blog at http://aguise.blogs.iva.co.uk/

sorry if that sounded as if i thought this site judgemental didnt mean it to come across like that , i have been looking at this site for a few month now and i found it nothing but supportive and helpful-- just the guilt talking, thanks.x

thanks i wiil do that, finally time to get on with it and to stop putting things off .x

Hi SJW, the first thing positive that you have done, is realise that you have a problem, which you should give yourself a pat on the back for. No-one on here will judge you, as I'm sure we have all made mistakes along the way. My IVA was approved in December, and I feel fantastic. For the first time in years, I am only spending what i earn, but it's my money, and it belongs to me! Thats the difference. It makes you feel proud of yourself for sorting your finances out. I have 5 years to go, but I am determined to see my IVA through, and I won't ever have credit again. You need to speak to a few companies, and decide which one you feel most comfortable with. Its the first step to your debt free future, and you will end up feeling fantastic like me!

thanks its good to hear that you are doing so well and i hope to be joining you in that great feeling in to future.x

Again sjw, having re-read my post, it may be read as me having a go at you - that's not my intention, I was merely trying to offer some advice. And, at the end of the day, who can blame you for trying to squeeze one last "luxury" out before you go into an IVA?

The thing I think I will find out from the IVA is that you appreciate things which you took for granted before. For example, I will probably get myself one bottle of wine (£3-£5) from the supermarket to have at a weekend, and maybe a couple of cans of lager, and that will be my "luxury", and I will enjoy them. Before, I would have thought nothing of spending £50 on alcohol and having nothing to show for it, apart from a sore head! Whatever your luxury may be (a box of choccys, a bunch of flowers, etc), I think they will be appreciated more.

no cr15py -i did not think you being critical at all i am glad of any advice thanks x

You sound just like i was, you will feel the pressure lift when you start sorting the problem out. I had never missed any payments, I had credit left on my cards, but i just decided that enough was enough and i wanted to do something about it before it got any worse. I spoke to payplan who have been fantastic, and the rest is history. All in all it took 2 months to get my IVA approved. I never received one telephone call, or no nasty letters, and now i can look forward to a debt free future. x

Sjw I did not think for one minute you thought the site was judgmental, I knew what you meant. I just wanted you to know that nobody is judged on here. You will fine, as the others are all saying you will feel so much better dealing with it and it does make you appreciate the little things much more and see what is really important. The stress of debt can weigh very heavily, you will be amazed at how much better you will feel without the worry. Yes living to a budget takes a little getting used to, but not as hard as you maybe think, and extremely rewarding to pay for things yourself.



Ang x

Please visit my blog at http://aguise.blogs.iva.co.uk/

many thanks for all your replies i feel fo much better now, this site i excellent for anyone in debt until i found it i felt very alone and although i knew lots of people are in debt felt that mine was somehow worse THANKS AGAIN XX