It is frightening - you are being hounded by creditors and you don't know which way to turn. We have all been there wondering if we will ever be in control of our finances again.
The relief once you are accepted for an IVA is wonderful!
You learn how to live on a budget and it's just wonderful not to dread the phone ringing and the postman calling.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi
I'm sorry you are feeling so scared...but you are here and posting....so I guess at a stage when you are addressing the issues and beginning to look for a solution. Thats a positive move....no more isolation with it all...a place to off load the fear, anger, frustration etc. But more importantly, a place to get the best advice and support in the steps you are taking. I know this from the short time I have been here.
Hang on to that positive bit even if you are a mess at the moment, believe me these guys will hold on to you and keep you sane. [:D]
Never take a moment or a loved one for granted in the blink of an eye they may be lost forever.
cannot back up enough what kallis3 has said. that initial relief to know that the phone calls and letters are going to stop is fantastic. you learn very quickly how to budget knowing that what is in the bank after the bills are paid is all that you have and that in itself is a relief. im not saying it isnt tough because there will be times when the unexpected bills come in but compared to the situation you are in prior to entering an iva it is a doddle. (beans and toast for the last week of the month was not uncommon - lol!!!) the help and support you will receive on this site is fantastic with many having both been there and currently in similar positions.
And it is fantastic to have money left at the end of the month rather than the other way round![:D]
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi Gill. I too am sorry that you're feeling so frightened, but like Jan has said, we have all been there at some point - and yes, it most definitely is possible to feel better once an iva is in place..
I know for me alot of the fright came from feeling like i had no control over what was happening - and also not knowing how to deal with the mess i was in, or if indeed it was ever going to get better..
But once you have taken that first step of asking for help and are then safe in the knowledge that there is a way forward, alot of the fear and anxiety will begin to disappear, and you will soon start to feel much stronger..
I also think that its the dealing with 'official people' that scared me, I mean by official the people in banks etc that I haven't really dealt with before.
Its funny that when you are borrowing money they can't be nice enough then once you miss a payment or proceed down an IVA route they suddenly change and in some cases, can be very nasty indeed.
I was lucky in that the fact that I wasn't really hounded while my IVA was being sorted , possibly due to the fact that I had never missed a payment and my IVA was sorted within 4wks so they never really had a chance to hound me.
It does toughen you up knowing that you are protected by the terms of an IVA and if you do receive any phone calls or letters once your IVA is agreed, once you have told them where to get off, it does get so much easier I promise.
An IVA is a second chance in life, and it is very rehabilitating. You learn to budget, learn to appreciate the finer things in life, and learn to save for what you want.
Yes five years is a long time - but no more than a five year car hire purchase ....it is not a life sentence, and if careful, you can still have a good time whilst in an IVA - you just have to reduce your outlook, and your want list - xmas and birthday's really do mean something when in an IVA - as you have to save for what you buy and at the end of it, you have no nasty bills coming through your door a few weeks later.
Once the IVA is approved, you feel a total weight off your shoulders and we certainly have not looked back. We have had bad weeks and good weeks - but you learn to get through them !
Good luck
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
You're certainly not alone. Feel free to come on here for support or to have a rant, or just to ask a question anytime.
There's usually someone around.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
