My IVA Story

March 17th, 2008 by debbiw

I think i’ve always had some sort of credit. From learning to drive at 17, I had a car on credit, so having credit cards, and store cards didn’t seem such a big deal…. until it all went wrong !

I always used my credit cards to pay for holidays, clothes, and i was always very careful about the amount i was putting on them. I only had two credit cards at that point,but when they reached their limits, I just applied for another one. It never dorned on me that I was getting myself into debt. The minimum payments on all the cards was quite low, and i knew i could pay them all back easy !

When our holiday came around, I wanted some new clothes for us all, so applied for a Next Store card… bingo, within days I had a next storecard with a credit limit of £2000.. Brilliant, i thought, I can get some nice new clothes for all the family, so we all look good on holiday. Within hours i had approx £500 on the storecard.

My husband knew nothing of the credit cards i had, he never asked any questions, i think he just pressumed my wage was covering things.

At the end of 2007, I was starting to Rob Peter to pay Paul, and I sat down, with all my credit card statements, and added them up. I nearly died when they totalled £37k. I had nothing to show for this debt, and i knew there and then that i had to sort something out. I spent weeks worrying about telling my husband, I didn’t know how he was going to react, as he had no credit at all, and believed that if you wanted something, save up and buy it. He had worked extreamley hard for the things he had.

I couldn’t sleep, I couldn’t eat. I felt sick all the time… One night when my husband was out, I contacted a company called Payplan. I had seen them advertised on the TV. I spoke to a lovely lady, and ended up crying down the phone to her for about an hour. She was fantastic, and it was just so nice to speak to someone regarding my problem, as no-one else knew – not even my husband.

I knew I had to tell him, as he was beginning to notice something was wrong. One night we were sat in the room watching TV, and I burst into tears, he hugged me and asked me what was wrong, I ended up blurting everything out. He was shocked, but he thought i had been having an affair, and wanted to end our relationship, and thats why i had been acting strange for months. He said he was dissopointed in me, for getting myself into that situation, but also said he would help me sort the problem out.

My creditors meeting was the 17th December 2007, and my IVA was accepted… (Yipee) I have learnt throughout my experience that Money is not the most important thing – My husband is, because he is the most wonderful man I know, besides my Dad.. I love him very much, and will never ever take credit out again.. !

I’ve paid over 3 payments now, and I feel much better about alot of things in life. I don’t have to worry about telephone calls, or letters, and I am now fully in control of my finances at long last .

Hello world!

March 17th, 2008 by debbiw

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