Hello!

FavDaughter1

Hi Worriedchick, just wanted to send you some support too,this period of time,the set up can be stressful but it will all be worth it once it's sorted.

just hang in there,you're doing well x

bumbling

Hi guys,

Didn't get chance to get on here over the weekend, so thanks for the replies and I was not being rude by not answering

Well have had a text to say that my new bank account has been set up and my new details will be with me in the next few days - then I suppose I cancel my DDs - eeekkk!!!!

Is it wrong to think about spending my direct debit money that I will be saving on *shoes - m.u.s.t r.e.s.i.s.t!!!!! (*disclaimer - I won't really)

How are we all today?

xx

FavDaughter1

Hi, good to hear you have the bank account almost sorted out! yes as soon as you have the account no. stop all dd's on the old account & get them set up on the new one.
some may overlap with dates - TAKE GREAT CARE, do not spend cash that you know you need to cover things like council tax (i know you were joking re shopping). with some of our dd's they took 2 payments( arranged over the tel with us) because of how dates fell,you need now to be working to the budget set by your IP.

save any left over cash for your emergency fund - something will break at some time.

bumbling

Thanks for the info. When you say set up my direct debits with the new bank, thats not for my creditors is it? is it just for things like car insurance and mortgage etc. or for loans and credit cards also?

Yeah, already have a savings account set up ready to put it by so all good there.

x

judojub

Hi bumbling.
Yup, just transfer all your priority payments over. Cancel the DDs to your creditors. If you banked with any of your creditors you might not be able to cancel the DDs so just leave them to run as they are.

FavDaughter1

Hi, no don't pay creditors now - save all spare cash for you emergency fund. judo is right,if you have loans with creditors you might not be able to cancel a payment,this can feel scary as you see balances grow but don't worry it will all go into the IVA.

set up the dd's you need e.g insurance,mortgage/rent,water,electric etc.

you're doing well

bumbling

Thanks guys.

I am starting to feel more relaxed about doing it now, I wished that I had never put myself in this situation, but all I can do is now deal with it and learn from my mistakes.

Your help is highly valued

xx

FavDaughter1

you're right,no good crying over spilt milk now,you've got the mop out now,time to get on with cleaning up lol!

big lessons eh? i've learnt a lot! i'd never even heard of a IVA until October last year:eek:. i need to keep on top of finances with my hubby,he's not good with cc's:eek:.

hope you get the dd's set up quickly. keep to you ip's budget & you'll be ok x