credit cards

[robson2732]

hi we have been in our iva 3 months and been a nightmare never missed a payment now we have no money and cant pay all bills also my husband started getting credit card applications through the post tempting but binned them feel very low at the moment [:(]

[vimto1029]

Hi Robson and welcome!

Sorry to hear you're feeling low. If you're really struggling you should contact your IP and explain..I'm sure they'll help in any way they can. This forum is great for a rant about anything too..I've done it many a time!!

And well done on binning the credit card applications! You'd get declined anyway! x

[josu]

I know how you feel, even though the income and expenditure is supposed to leave you with enough, we are used to spending more thats why we are in debt i guess. Im four years in and still learning! You would get refused the credit cards anyway as you are insolvent and it would come up when they did the credit search plus it would be a breach of your IVA so you have to think if its worth it. All you can do is work out what you have left every month and split it into four so you know what you can spend each week, then try your best to stick to it. Its so hard but think how much it will be worth it in the end!

[Sarah Jolly]

Hi Robson2732, welcome to the forum.

Wise words from vimto1029.

It’s worth trying to identify whether you are struggling with the allowances you have been given on your IVA income and expenditure or whether some of the expenses you are paying out for have not been accounted for at all.

If you have a look at your IVA income and expenditure and check this against your bank statements for food, housekeeping, travel and direct debits, this should help you to identify why you are struggling.

You will inevitably have to speak to your IVA firm so they can talk you through the options and you certainly should not be feeling so low with it all.

Have a chat with them, see what they suggest and come back to the forum if you need any further help.

[Imhotep]

We keep getting those pre-approved Vanquis(?) card offers through the post.

[robson2732]

thats the ones vanquis thank u all feel in worse place than beforew iva we dont spend anything apart from food are daughter is autisic so needs more stimulation i dont know what to do we cant afford to go bankrupt but iva is gonna kill us cant get hold of ip being trying for weeks must only have 2 people at dfd

[terry d]

im not sure what you mean by,we cant afford to go bankrupt,you can by stop payiing into the iva,for i think 3 months then it will beseen as a default,then you save up the £700 with that money,thats the usual thing to do,you can tell all your creditors you are going bankrupt hopefully you can sort your iva out but there are other options you can can take,dont be scared just think ahead,i told all my creditors i was going bankrupt then 3 months later i did go bankrupt with £40,000 of debt

[robson2732]

thank you that has been a massive help i think that will b are only option cant go on like this

[sponge]

As low as you might be and it is awful you can get past it. I have finished my IVA and it has changed my life forever, for the better.

You have to think a different way and don't think you do otherwise you wouldn't be here in the first place and I guess we are all guilty of that!

Budegt budget is the key
look for the cheap on the sell by date stuff, I queue in the slef checkout section, looking for which stations that's got a little white ticket sticking out(where you get money off the next shop on a cost compare) I still can't believe people just leave em! best one so far about £2.36 (result)but they average 30p to £1.30 better still eat other peoples food!

Limit yourself to one tank of hot water per day and rotate who gets it
Or as I did in the end got cheap gym which meant I can park in town for free, as often as needed, use the showers, toilets (pinch some loo roll, yeh why not) use thier soap and towels, wash my kit n stuff in the showers to! and I got fit! And that made a real dent in the home heating bills, microwave where you can etc etc

Your only three months in don't give up.

[recovering]

It's very early into the Iva and It does take some adjusting to, If you can talk to someone at your Iva firm they may be able to help with I&e or actually advise on bankruptcy? Don't despair someone who knows more will prob comment in a while[:I]

[terry d]

bankruptcy is not a dirty word anymore

[recovering]

I wasn't implying it is Terry

[robson2732]

all we are spending is food bills and petrol we dont go out or to the gym went and pawned what was worth anything turns out not a lot so after nappys and wipes hhave 20 pound to last 2 weeks not good

[terry d]

i know you wasent ,iwas just making a generall statement

[robson2732]

i know and your right wish i would of gone for bankrupcy from the start