LP's 2009 masterplan

LilacPixie

Well despite several attempts over 2008 to keep a diary I failed misrably. I also managed to fall of the wagon more than once and as a result we are not as close to being debt free as I had hoped but we have made headway :j .

2008 was a big year for us. We welcomed our second child into the world in July and Mr Pixie made the massive move in February to get a fulltime paid employment rather than self employed contractor.

I am on maternity leave and pay until April when I return to the grind stone. Hopefully my flexibile working arrangements plus Mr Pixie shift pattern means we will need minimal childcare for baby and toddler pixies.

I will not put up and SOA just yet for a few reasons. Firstly Mr Pixie is working for an agency at the moment but has been offered a full time salaried position which he has accepted. Start date and bonus/shift allowance structure is still to be confirmed. Secondly My maternity entitlement is staggared and I do not drop to SMP until 7th Jan 2009.

I will however post up our debts including mortgage so you can all see what we are dealing with along with my master plan and the reasons for my master plan.

LilacPixie

OK now for the masterplan. I am to clear all our unsecured debts and as much of our mortgage as possible by May 2011 when our fixed rate deal expires. We currently have a 2 bed stone built flat that is just about large enough for us four but i would really really like more space and a garden for the mini pixies. I also work from home part-time and at the moment use a corner of our bedroom as a study/work area.

We had arrears issues in the past but these are all paid and cleared but credit history is more fair than excellent. According to experian this is because of the amount of credit accounts we hold rather than amount owed.

I have had car finance and a personal loan from welcome finance. Both times i was told that PPI was compulsory and with the personal loan they actually put that in writing. I complained to the branch last year and they upheld my complaint. Advised that they would be refunding all PPI amounts paid plus interest if I would consider the matter resolved. I agreed that the matter would be closed as soon as refund received. They stalled and stalled so I took my complaint to head office regarding it and they say that PPI was not mis-sold and all their staff are fully trained blah blah blah. They also said if i wished to take the matter to the ombudsman that they would ask for it to be dismissed as no case to answer unless I could provide proof that i was promised a full refund. I duly copied the letters received from the branch and sent them to the apparent caseworker and received a reply yesterday stating that the letters I sent them were photocopies of correspondence and not the original letters, the branch have no trace of such letters being sent (total BS because I subject accessed them in May 2008 and the letters and case notes did refer to them) and I can take complaint to ombudsman if i want but they can assure me that there is no case to answer on their part. :mad: There is a case to answer and I am working my way through the ombudsman forms at the moment as i downloaded them today.

Black horse is a similar PPI claim. Now I was desperate at the time, was banking with Lloyd's TSB who would not give me an overdraft but the adviser suggested i contact their sister company black horse who would assist. Meeting was arranged and that was all fine loan arranged. I was asked about PPI told them I had my own cover plus company benefits and I had a degenerative disorder for no new insurance will touch me so no point. I signed the demands and needs form stating this loan arranged monthly payments agreed and i signed for it. I was told i would get a letter confirming detail and 1st date of payment but it never arrived didn't think much of it as i knew the payment amounts and the date I requested and left it at that. Earlier this year i was shredding old bank statements and I noticed the amount per month paid to BH and now after my LB moment wondered what possessed me to agree to such a loan, 1k over 24 months at 87 per month. I had no paperwork so I SAR'd them and they cashed cheque and wrote to me saying i did not have an account with them. I wrote back saying I did and providing the account reference number from my bank statement. They ignored this. I sent again recorded delivery and they once again replied to say i had no account with then. I wrote again and copied in the ICO and mysteriously they found the account. Opened early 2005 cleared early 2007 so hardly ancient.

In the paperwork was the photocopy of my passport and driving license but more bizarrely a photocopy of a demands and needs statement with fictitious requirements requesting PPI signed with my first initial and surname but not with my signature. The signature is very different to mine and the ID documents provided at the time. There was also a printed CCA detailing £900 of PPI front loaded with the same fictitious signature. I wrote to black horse calmly and stated that I had refused PPI, I had never received any paperwork and this had just came to light and they sent a standard letter ignoring my points totally and saying basically you paid for it you had the peace of mind knowing it was there so tough. I responded on 11th November, Recorded delivery stating that i was unhappy with the response provided, I never agreed to PPI, I signed a loan form without PPI added and a demands and needs for refusing cover. I pointed out the details in the demands and needs statement were false (age wrong, employment status wrong etc etc) and the signature on that and on the loan form was not mine as they could see by checking my ID held on file. I also enclosed a scanned copy of my passport. This was delivered on the 13th according to RM tracking but no response. I called today and apparently no such letter has been received. Copy being sent tomorrow morning. :mad: :mad: I know i paid what I thought was the non PPI payments anyway but to find out that someone has doctored the loan documents makes me :mad: :mad: :mad: so I want an explanation more than anything. I will be taking it all the way to the FO and further if possible (not sure if i can go further)

Finally Avon have registered a default against me in my maiden name at this address but dated before we bought it. The default was registered with a different DOB than my own. I requested equifax and experian remove it. Equifax did but experian said nope Avon say its correct. I then wrote to Avon asking for removal because it was not mine and they wrote back saying nope and gave a copy of the alleged application form with my maiden name,current address (bought after we were married) and a squiggle smudge for a signature along with an account statement saying £134 owed 4 x 30 late fees plus £14 of goods. I replied pointing out these fact and also pointing out that the DOB of their debtor was different day, same month, different year from me and enclosed a copy of my passport to prove it. Low and behold Avon have change the DOB with experian so it now matches mine!!!!:mad: :mad: :mad: The are now ignoring recorded letters from me and equifax contacts asking them to re check the data. I am currently liaising with the information commissioners office with regards to my next step. Meanwhile my equifax credit file looks OK but experian looks pants. Bizarrely despite Avon being sure the debt is mine they have never actually requested payment of it.

SO to summarize. If i get money back form welcome, black horse or any compensation from Avon (not even sure if thats allowable) then i will be using it to pay down debts. If it happens to come through when we have no unsecured debt then it can go right onto the mortgage.

Then we must look for a house, ideally detached with 4 bed rooms, possible study and a living room and dining room. OH wants a garage and a huge garden is a must. I have found several fitting that bill in and around my area for sale all at around the 170k mark.

We currently have a 53k mortgage and the mirror image of this apartment/flat in the same block as us just sold for 87k but needs double glazing and central heating which we have done so I am hoping that means that we will avoid negative equity.

sorry for war and peace..... bed time for me

LilacPixie

OK I am eventually slightly organised.

Debts outstanding at the moment.

Mortgage - £53250.78
SLC loan - £9342.94
GE Money loan - 9277.66
Next Account - 572
MBNA £362.18
Car HP £2442.92

Total is a fraction over 75k :eek:

Mr Pixie was told today last day with agency is 31st December. We think his basic salary will be around £1200 a month after tax but before bonuses and shift allowance. People who are already salaried tell him they come out with around £1500 net per month but until that is officially confirmed I am not banking on that.

I spent £97 in Morrison's today :eek: :eek: :eek: i just cannot seem to get shopping under £75 a week at the moment never mind under £50 which is my aim!!

Savings need to me made

doodledo_2

Morning LP good luck with your new diary.

Good news about Mr P and the job, least once he starts and you now his salary amount you will know where you stand.

£75 for the four of you is doable. Do you meal plan? I found by meal planning for a week at a time and then doing my shopping list I nearly halfed what I was spending.

LilacPixie

doodledo wrote: »

Morning LP good luck with your new diary.

Good news about Mr P and the job, least once he starts and you now his salary amount you will know where you stand.

£75 for the four of you is doable. Do you meal plan? I found by meal planning for a week at a time and then doing my shopping list I nearly halfed what I was spending.

Afternoon Doodledo.

I attempt to meal plan which usually turns into a disaster because either Mr P decides he doesn't fancy the meal planned and ends up buying something else or problemswith work mean he is home later than expected so planned meals are hastilly frozen and replaced with something quicker and reheatable.

I must confess out store cupboard andfreezer is bursting with stuff andI could probably do 1-2 weeks just buying milk and fruit/veg. Our biggest expense is nappies. With 2 still in them we are spending a fortune.

Miss_Piggy_2

Hello Lilacpixie

Good to hear you have a plan.

With regards to the shopping...does that include nappies? Or do you buy them seperately? If it included it then you could still probably knock £20 off that by meal planning etc. If that figure doesn't include nappies then :eek:

Try having a couple of weeks of living off your freezer etc ( like you say, you would only need to buy fresh veg, milk etc). You would be surprised at how much food you HAVE in the house!

Good luck with the masterplan though - keep us informed of how you're getting on!

Miss P
xx

LilacPixie

That figure does includes nappies. We are bad but not outof control

LilacPixie

Well I am failing misrably at this once again.

Mortgage - £53250.78
SLC loan - £9342.94
GE Money loan - 9277.66
Next Account - 572
MBNA £362.18
Car HP £2442.92

Well this is our debts :eek: :eek: Plan is as follows;

Pay minimum payments to all until April 2009. I return to work ful time at this point so we will be £800+ per month better off than we are at the moment. Car HP ends summer 2009 naturally anyway so I am :j That will also free up an additional £276 pm.

OK minimum payments as follows. Mortgage £404. SLC £268, car HP £276 MBNA and NEXT 10% of amount outstanding (I think, both are technically OH's).

When we have moniesavailible for overpayment we will be paying firstly next,then MBNA then GE money and then the car HP will probably be cleared of its own accord and then overpayments will gosome to the mortgage (can only op £500 without penalty and the remainder to SLC.

Whats the cost is forcasting a df and mf date of Jan 2013 so I am hoping to smash that date.

To be honest I doubt we will be mortgage free because we really need to upsize so we will be viewing mortgage overpayments as a deposit pot for our next home.

I also plan on starting a small additional savings account come April if finances allow. Between now and then I am looking for lots of money making ideas.

boredofbeingathome

I love a plan LP as you know! Good luck with it all hun. x

LilacPixie

Cheers BOB. I will be needing some serious !!! booting from now until 2013 but I hope that ideally we can be DF and MF before then,I don't want to set ourselves a hugely unobtainable target tho.

LilacPixie

Once again failing miserably.

Mr Pixie started as a salaried employee officially on the 1st but with bank holidays and weekend Monday is his first official day. It won't make much diffrance to himas he has done the jobfor the last 8 months anyway. Still no nearer knowing what he will be paid. Basic salary is £18542.00 so around £1200 a month after tax but and this is a big but there is also additional payments depending on what he is delivering, how many miles he covers and how many deliveries he makes. All very confusing.

I amthinking of basingour SOA on £1200 income from him and then using every penny over that for savings/debt overpayments. I can do an soa from May 2009 onwards based on this.

My In laws have askedto have both mini pixies forthe 3 hours twice a week that neither me nor Mr Pixie can have them.

I have also posted on old style for meals bugeting ideas.