I completed the income and expenditure forms, although in hindsight there are a few problems with this (i forgot about some costs) its only been in the last 2 months I have realised how all over the place my cash was.

so my first creditors meeting was in Nov 06 due to a few technical issues, my proposal was rejected by the creditors. However my IP lowered their fees and re-submitted the proposal and it was accepted in Jan 07.

Living within a budget is a major issue for me, I have resorted to writing in my little note book a record of every penny I spend (to see where I am wasting it!) as well as keeping receipts and checking my bank statements. I also now plan for upkeeping expences, car tax etc.

In the worst depths of my debt i felt sucidal, i approached my GP who said “everyone is in debt and not to worry!”.I never opened a statement to check it, I neverkept a receipt  I was always skint and always relying on credit to get me through to pay day. One morning everyone in my office was talking about marriage and children, all of which I would love. It hit me I cant have those things with my level of debt, feeding myself is a struggle let alone anyone else.

I am not saying its all ok now as I am in an IVA, its a struggle… but i know I am spending “real money”.

So lets start at the beginning…..

 I went to university at 18 and before I knew it my bank (natwest) had offered me an overdraft adn a credit card with a limit of £500. For my first year at uni I lived off my student loan and my wages from my part time job. Then life happended…I spilt up from a long term relationship and my world spirlled out of control…I wanted what I didnt have and used money to buy stuff to fill the gaps in my emotional life!  Every time i ran out of money the bank lent me more and this went on well after university. At one point I cleared my debt with a consoldiation loan the day after a new credit card with a £5000 limit landed on my door mat… I cant say No… thats the problem (shame I didnt realise it sooner).

It makes me feel like a very sad and lonely indvidual for admitting this but its true! As it will become clearer the IVA processes has made me face up to a lot of things, firstly the debt.

So by mid 2006, I realised I couldnt go on, I couldnt even get another “consoldiation loan” to cover my debts… It would have taken my y

In total my debt is £38,000. To the following creditors, HSBC, NATWEST (loan, overdraft and mastercard), STUDENT LOAN COMPANY, CAPITAL ONE. 

I was actually contacted by an IVA company, i had never heard of an IVA and while I didnt feel comfortable with the company I learnt alot about IVA and banckrupcy and started me thinking. I told them I wouldnt be using them and started to do my own research

I contacted Myvesta … would def recommend you check them out out (google them) I complety support their ethical stance on debt and value their advice and information. They put me in touch with an Insolvency practioner and so the journey began into a “debt free” life