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Debt-free wannabe

Archives for December 2005

Put these in order of perceived power of authority......
Police, The Courts, Banks. Banks include credit card co`s Happy New Year. ILEE
Default Notice and what action should I take
I have just received a Default Notice as I have missed the payment date for an arrangement payment on a loan by a few days. I suspect this is standard action on the lenders behalf but the question is what should I do? They are asking for the full arrears to date to be paid in a few days time, which I can not do. I have not…
Credit Reference Report
This is a long story, so I'll tell the short version. I went into hospital January 2003, nearly died, emerged 21 months later physically disabled. My main problem that because of this '21 month incapacitation' Egg defaulted my credit card and put so on my credit report. Whilst I was in hospital my mum got Power of Attorney…
I think I am on the road to recovery nearly
. after totally freeking out yesterday about our dire situation , I spent twhe whole day looking at our income and expenditure. I haven't gotten the debts sorted yet but i have managed to reduce our living expenses enough to give me £400 to split between them each month. I have letters written to all the credit referance…
Short/Partial Settlement
Have just over £7,500 debt on MBNA credit card. Due to drastic change in circumstances am now unable to pay off. Have been paying reduced amount for past 6 months with interest frozen. Have contacted MBNA with an offer of £3,000 in full and final settlement. They are not prepared to accept this offer and have said that…
How to calculate time left to pay credit card?
Hi does anyone have a formula for use in Excel (or any other method) that would allow me to work out how long it would take me to pay off my credit card with varying payment amounts? I've called Egg about this three times and they've never given me an answer, just fobbed me off with excuses. Thanks Martin P.S. Only three…
How do I do this
Hi I am trying to sort my finances out and I am struggling with a few things and I wondered if you could advise me the best way to go about things. My wage is paid into my partner's account, as I have a loan, credit card debt and an overdraft with the bank,(CAB negotiated repayments for these last year) but now we have run…
Can you advise?
Firstly, A Happy New Year to All, and my Resolution this year is to get fit both Physically and Financially! In 1989 I was proprietor of two shops which I lost due to the recession, to the tune of around £70,000, which then was the price of a 3 bedroom semi! I never went Bankrupt as my home was practically paid for so they…
Will I ever get a mortgage
I've got debts of around £20k and slowley paying them off via the CCCS. This was mainly due to the CSA suddenly wanting most of my income! Anyway, I have a few defaults on my credit file and probably have about 5 or so years left paying it all off (£120 a month spread over 10 creditors). I've heard of creditors wipping off…
Freezing Interest/reducing Payments
I'm really struggling to pay the minimum repayments on my cards. I know that there are agencies that I can approach to help me, but I'm wondering whether it's worth 'going it alone' and approaching the companies directly. Has anyone any experience of having done so??
Has anybody ever had theri debts written off ?
Hi to you all out there, found this site @ 2wks ago and have posted on it a few times now and would just like to say that i think you are all great and extremely helpfull, certainly reassuring to know theres others out there in similar situation, really does easy the worry. Right that out of the way, I was just wondering…
Making a start
I've made a few small changes today and already feel so much better for it. I owe £23k on credit cards, no overdraft or secured loans. Didn't realise until a few months ago how seriously in debt i was but am now making the effort to pay it off. I managed to get my winter fuel rebate from British Gas and registered for egg…
In debt and it scares me...
Hi all, Moved back to the UK six years ago when I was 19 and very very naive about money and the debts have slowly spiralled out of control since then. I'm currently almost £30,000 in debt and it feels like the biggest weight over my head. I rang up the National Debtline in a fit of frustration last week and still waiting…
oh dear
Now I know why Martin says NEVER use your 0% balance Transfer Cards for purchases. I used mine to pay for my car insurance knowing I would be paying that amount off when the bill came( my beautiful mum and dad still pay for it). I have now found out that I am going to pay interest on that £300 even though I think I have…
Advice....is this a good plan? worth it?
I have been up all night thinking, there is a way we could clear all debts in 18months. It would mean selling the house using the 11k equity to clear one loan. Moving in with my parents (although this has its downsides, although they wouldnt expect money they woud ask for help around the guest house at the weekends and in…
How much will you spend this new years eve?
How much have you spent so far for new years eve & how much will you be spending on the night? So far I've spent :- £45 for my ticket (Got to get some clothes for the night tonight) Probably around £60-£100 on the night too !!
12 months on - this look a lot better!
Well, just thought I would share with you how myself and my wife haven managed to turn things around this year. 12 months ago, I was taking home 920 pcm, she was taking home 870 pcm. From January, I will be taking home 1200 and she will be on around 1090. In terms of outgoings, we have rejigged just about everything. Then:…
Full and final payment on court order - advice pls
hi there, haven't posted in a while but history - husband bankrupt after failed business, I had signed for one loan so inherited the debt from a factoring company who don't mess around!! sum owed was £18k - he only borrowed 11 but the rest was interest. court ordered I pay £40 a month after a 5k lump sum i offered. so I…
need some advice about bankruptcy
I really need some advise , we are being threatened with bankruptcy by one of our creditors, how and why we are in debt is a whole other story that will take too long to type , can i just say we were stupid and didn't take it seriously enough at the begining and now i don't know what to do. we have about £20,000 of…
I moved to another country to clear debt!
Yeah- here I am in Dubai, working at the same job as in the UK, only it's tax free and I am able to pay off more of my debts. Has anyone else done or did, or even thinking of doing the same thing? Of course there are pros and cons to this: Pros :j -Most people here get an allowance or accomodation which is paid for…

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MSE News

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