Hi, this is my blog which I hope to keep updated as I progress in trying to find a solution to my debt problems. I found the IVA Forum about 2 months ago and found it to be the final push I needed to take action and sort myself out. Reading about people who have ‘been there, done that’ or still going through it and still surviving made me realise that perhaps it wouldn’t be as scary as I first thought.

I first heard about IVA’s back in November last year and I spent alot of time doing research into them. Although I found a lot information about the ins and outs of IVA’s, I was struggling to find information from people who had been through the same process. Not only that, I wanted to find somewhere that had independent opinions on companies who offer IVA’s.

I was very wary of the ‘IVA Factories’ and personally some of the advertising put me off. Some made it sound too easy and I knew this wasn’t the case. Anyway, I found this site and in turn found an IP who I was confident in, which of course is Melanie Giles! All of her staff are excellent and I cannot fault the service received. The IVA process is a nerve racking time as it is, but having someone represent you who you have confidence in does make it that little bit more bearable. If I can offer anyone any advice (even though I am still a novice myself!) take the time to find an IP you are confident in to put your best case forward.

MY DEBT

I am £67K in debt, spread over 12 creditors….

• HSBC – £21.5K (Loan, Visa & Overdraft)
• Egg – £15.0K (Loan, Visa & Mastercard)
• Sainsbury’s Bank – £6.5K (Loan)
• MBNA – £6.0K (Virgin Mastercard)
• Tesco – £3.0K (Mastercard)
• Halifax – £6.0K (Mastercard)
• Black Horse – £0.9K (Loan)
• Mint – £0.3K (Mastercard)
• Cahoot – £6.8K (Loan)
• 3 Catalogue/Store Cards – £0.8K

I am mortified by the amount of debt I got into, but that’s done and the mistake has already been made. Now comes the hard bit of trying to sort it out…..which I am determined to do!

My proposal is offering 58p in the £.

I have just sent back my signed proposal so I guess it’s just a waiting game until I get a date for the creditors meeting. I will keep you updated on how I get on.

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