Diary of a Poor Person aged 46 1/2

Purpleroses

yaaay!!! so happy for you!!!!

mrscmr

thanks to everyone posting congrats!

there is a long slogg ahead... but we have reached the first step.

now i want to know about paying off the debt...? the full and final thingy as its my opportunity to clear it all, but obviously there is only so much money so i want to use it wisely! most of the cc's and loans are on self managed dmp so wonder what my options are?

wantabetterlife

congrats Mrscmr, i have been following your diary from the start and am delighted for you.:j:T
When you have cleared the mortgage do you have enough to clear all the debt?
I am sure after everything you have been through you can hardly believe the end is in sight. Do you still plan to move abroad to where OH is working or will you rent somewhere here?
:D:D:D:D:D:D:D:D

Keeping_Motivated

Congragulations, great news for you at last.

It might be better to start a new thread about paying off the debts and the self managed DMP stuff as this diary might kind of get 'lost' to some readers IYSWIM whereas if you had a specific title it might attract knowledgeable advice for your particular queries.

mrscmr

yep we clearing the lot!

and yes ... what a good idea of starting a new diary from the otherside of life! just need to get there first!

dawnybabes

Brilliant news :-)

GDB2222

mrscmr wrote: »

now i want to know about paying off the debt...? the full and final thingy as its my opportunity to clear it all, but obviously there is only so much money so i want to use it wisely! most of the cc's and loans are on self managed dmp so wonder what my options are?

The mortgage is going to have to be paid off in full.

I wonder whether you could do a deal with the other debts to pay them say 75p in the £ ? I'm not sure I'd say to them 'hey great news we've sold the house and can pay you in full'. I'd be saying that you're about to move offshore to join OH but would like to have a go at clearing your debts before you go - you can offer 50p in the £. Then negotiate up from there.

Eager_Elephant

If companies won't accept full and final and you don't have enough to pay them in full you could look at a lump sum IVA.

So instead of paying a set amount each month for 5 years you pay the lump sum straight away and it is all finished almost straight away. Obviously there are fee's charged by the IP but these come out of the pot of money so you don't pay them seperately.

EE

boredofbeingathome

This may help
http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

I personally think you will be in strong position to negotiate if you are already on a self managed DMP- simply because they will want rid of the debt.

Good luck! Bob x

Happytogetdebtfree

Congratulations and all the best to a happy healthy wealthy fresh start xxxx post a link for the new diary xxxx