so so scared

lucieloo

Please can someone help me! i have completely messed up big time i probably deserve everything i get i know but i dont know where to turn. I have let my husband and children down and i feel like ending it all. I will explain and i realise that no one will want to help and im just hoping that someone can just take a second to just advise me of my next step. I am in yr 5 of a 6 yr iva. Two and a half years ago i applied for ppi on 2 of my older loads which i went on to renew and renew and the newer ones are now with the iva, and i successfully claimed £1800 from the 2 claims. THE PROBLEM IS I SPENT IT!! I brought 2 new beds, a sofa and a tv as my boys bunk beds were completely dangerous sofa had collapsed and we had a 16inch portable which we coped with for 2 years prior. My husband said it should be fine and as we have only ever missed 3 payments which were agreed by the iva company. You probably know what is coming next? Yes my iva company are demanding i claim ppi via them. I now know it was wrong and i wish i had not have done it but top line is i have. I cant eat, sleep or anything i dont know where to turn i am soo soo scared as to what i have done, i have even thought about topping myself.I want to tell my ip but i keep putting it off and off as i am a nervous wreck. Please can someone just take some pity on me and just tell me what the best thing is to do?Do i tell ip or do i just sign forms send them off and wait? And to anyone out there that thinks not to tell there iva company DONT do it!!! It is not worth it i can promise you that.

immoral_angeluk

Nothing is worth thinking about taking your own life over. If you are seriously having those kind of thoughts you should speak to your GP or to the samaritans as soon as possible.

You have no let your children or your husband down. You have made a mistake. To err is human please don't beat yourself up over it. These things happen.

Any PPI constitutes an asset in your IVA. Once you start an IVA you effectively sign over your interest in that asset to your IP.
You need to tell them that you have already claimed the PPI and spent it and household items. What the IP will do I don't know and you would need to check your IVA terms to see if there is anything in there about it really. It may be that the IP could theoretically terminate your IVA for a breach of your conditions, or may pursue you for the money, or could do nothing. It's impossible to know until you speak to your IP.

At the end of the day, even if your IVA is terminated, you still have the option of bankruptcy. You first need to speak to your IP.

Your first concern should be addressing the suicidal thoughts and seek advice and help from your GP to deal with those.

Your IVA is second priority to your health and wellbeing.

DNR_2

Hold on in there and be strong for your kids, I am sure the best of people have been tempted by things like this. Sorry can't advise you which way to go as not too experienced here.

lucieloo

immoral_angeluk wrote: »

Nothing is worth thinking about taking your own life over. If you are seriously having those kind of thoughts you should speak to your GP or to the samaritans as soon as possible.

You have no let your children or your husband down. You have made a mistake. To err is human please don't beat yourself up over it. These things happen.

Any PPI constitutes an asset in your IVA. Once you start an IVA you effectively sign over your interest in that asset to your IP.
You need to tell them that you have already claimed the PPI and spent it and household items. What the IP will do I don't know and you would need to check your IVA terms to see if there is anything in there about it really. It may be that the IP could theoretically terminate your IVA for a breach of your conditions, or may pursue you for the money, or could do nothing. It's impossible to know until you speak to your IP.

At the end of the day, even if your IVA is terminated, you still have the option of bankruptcy. You first need to speak to your IP.

Your first concern should be addressing the suicidal thoughts and seek advice and help from your GP to deal with those.

Your IVA is second priority to your health and wellbeing.

Thank you so so much for replying, i feel so alone. I have made an appointment to see my doctor on monday but my doctor wont be able to understand what im talking about. I have not got the guts to do anything serious if im honest but i just want it all to go away.
The bankcrupcy option scares me to death, the thought of my children loosing there home through my stupidity is just awful. I think i am going to sign forms and send them off and see what the outcome is. I will then go on to explain what i have done and hopefully they will take note i have paid every payment i will continue to keep payments up and try again. The stress is unbearable though. If my iva fails do i automatically loose my home??x

FiatFan_2

things become difficult when your feeling like that, particularly this time of year imo when the pressures on spending is at it's highest.

If the ppi was for loans that weren't included in the iva, would they be reclaiming it or know to reclaim the ppi you did? not if you'd get it away with it or not, not been around long enough to read others experience of that

as hard as it'll be i'd have to try speak to my ip and explain the situation and try to offer repayment of the windfall over the final 12 months. be a real shame if they were to punish you at this late stage.

Depth_Charge

lucieloo wrote: »

Please can someone help me! i have completely messed up big time i probably deserve everything i get i know but i dont know where to turn. I have let my husband and children down and i feel like ending it all. I will explain and i realise that no one will want to help and im just hoping that someone can just take a second to just advise me of my next step. I am in yr 5 of a 6 yr iva. Two and a half years ago i applied for ppi on 2 of my older loads which i went on to renew and renew and the newer ones are now with the iva, and i successfully claimed £1800 from the 2 claims. THE PROBLEM IS I SPENT IT!! I brought 2 new beds, a sofa and a tv as my boys bunk beds were completely dangerous sofa had collapsed and we had a 16inch portable which we coped with for 2 years prior. My husband said it should be fine and as we have only ever missed 3 payments which were agreed by the iva company. You probably know what is coming next? Yes my iva company are demanding i claim ppi via them. I now know it was wrong and i wish i had not have done it but top line is i have. I cant eat, sleep or anything i dont know where to turn i am soo soo scared as to what i have done, i have even thought about topping myself.I want to tell my ip but i keep putting it off and off as i am a nervous wreck. Please can someone just take some pity on me and just tell me what the best thing is to do?Do i tell ip or do i just sign forms send them off and wait? And to anyone out there that thinks not to tell there iva company DONT do it!!! It is not worth it i can promise you that.

Hi

First of all, debt issues can be sorted no matter what the situation, you & your family come first every time in my book.

Second, absolutely YES there are people who want to help and support you

Things happen and they can be sorted.

It looks like we are talking about an asset of £1800 from 2 and a half years ago.

Sounds like you used the money on urgent items where safety and children where concerned

Im not for one minute saying this is right and not knowing the terms of your IVA its hard to say much more on the info given.

I note you are getting towards the end of the arrangement

Are there any other PPI claims?

Surely this issue can be sorted / solved by your IP

As others have said you need to speak to your IVA company

Keep the head up, dont do anything silly, talk to someone

Keep posting if you can

immoral_angeluk

lucieloo wrote: »

Thank you so so much for replying, i feel so alone. I have made an appointment to see my doctor on monday but my doctor wont be able to understand what im talking about. I have not got the guts to do anything serious if im honest but i just want it all to go away.
The bankcrupcy option scares me to death, the thought of my children loosing there home through my stupidity is just awful. I think i am going to sign forms and send them off and see what the outcome is. I will then go on to explain what i have done and hopefully they will take note i have paid every payment i will continue to keep payments up and try again. The stress is unbearable though. If my iva fails do i automatically loose my home??x

There is a long standing myth that bankruptcy means you automatically lose your home. This isn't the case. I would recommend speaking to your IP or have an appointment with CAB or one of the other free debt charities such as National Debtline or Stepchange.

UpToMyNeckInIt

lucieloo wrote: »

Please can someone help me! i have completely messed up big time i probably deserve everything i get i know but i dont know where to turn. I have let my husband and children down and i feel like ending it all. I will explain and i realise that no one will want to help and im just hoping that someone can just take a second to just advise me of my next step. I am in yr 5 of a 6 yr iva. Two and a half years ago i applied for ppi on 2 of my older loads which i went on to renew and renew and the newer ones are now with the iva, and i successfully claimed £1800 from the 2 claims. THE PROBLEM IS I SPENT IT!! I brought 2 new beds, a sofa and a tv as my boys bunk beds were completely dangerous sofa had collapsed and we had a 16inch portable which we coped with for 2 years prior. My husband said it should be fine and as we have only ever missed 3 payments which were agreed by the iva company. You probably know what is coming next? Yes my iva company are demanding i claim ppi via them. I now know it was wrong and i wish i had not have done it but top line is i have. I cant eat, sleep or anything i dont know where to turn i am soo soo scared as to what i have done, i have even thought about topping myself.I want to tell my ip but i keep putting it off and off as i am a nervous wreck. Please can someone just take some pity on me and just tell me what the best thing is to do?Do i tell ip or do i just sign forms send them off and wait? And to anyone out there that thinks not to tell there iva company DONT do it!!! It is not worth it i can promise you that.

Hi Lucieloo,

We are all human, and we all make mistakes. I sympathise with your feelings, but as has been said elsewhere here, there will be a reasonable solution to this problem. I'm sure you are not the only person in this situation.

My suggestion would be to comply with your IPs request, (they won't issue your completion cert until they have tried a PPI claim). You should explain what you did, because your IP will find out sooner or later.

As suggested by another post, explain that it was a relatively small sum of money, that you spent on essential household items - backing it up with bank statements/receipts if need be.

I am surprised that this was not picked up at one of your annual reviews by your IP (I assume the PPI claim was paid into your bank account, the statements to which you are usually asked to provide at review time). You could mention this in your defence.

If your IP is then if the opinion that all, or part of what you claimed should go into the IVA, you should explain that, as it was not picked up at review time, you assumed it was OK. Ultimately however, you may have to negotiate paying additional IVA payments after year 6 until the agreed sum is paid over.

All the best, and let us know how you get on.

lucieloo

Hi there, firstly many thanks to you all for taking the time to reply, they did not pick it up at annual reviews as i only have to provide 6 months bank statements and it happened not to be on this particular statement i have done wrong i know and i intend to do my upmost to rectify this. I always thought that bankruptcy would definitely make me loose my home ?? I was under the impression that if my iva was to fail this would be the next step. I am worried sick to the point i cant eat or sleep properly so i am seeing the doctor tomorrow to hopefully help me. Just one more question will my iva more than likely now fail? and what will happen when it does??

UpToMyNeckInIt

Doubt it will fail, but you may be required to come to an arrangement with your IP to pay some/all of this windfall into the IVA.

This will usually be in the form of increased and/or additional payments.

techno1029

As others have said in the scheme of things this is a trivial matter although you may feel very scared by it. If I were in your position I would plead ignorance to your IP and make all attempts to come to an arrangement with them. You could inform them you were unaware of the PPI being an asset to your IVA and just assumed this was totally seperate. They should then make you aware of your terms and conditions and should make all efforts to help you. You really need to come clean though as this will be a good gesture that you made a mistake and are willing to rectify it.