Diary of a Poor Person aged 46 1/2

GDB2222

mrscmr wrote: »

omg.. our solicitor is ready with our contracts for signing... it wont be long now.
scared/sick/relieved/excited... take your pick of which emotion ... im experiencing them all

It's quite a tough thing to do, moving house, but think of the long-term reduction in stress.

fc123

mrscmr wrote: »

omg.. our solicitor is ready with our contracts for signing... it wont be long now.
scared/sick/relieved/excited... take your pick of which emotion ... im experiencing them all

GDB2222 wrote: »

It's quite a tough thing to do, moving house, but think of the long-term reduction in stress.

It's going to absolutely fine mrscmr Probably better than fine.

Getting used to living with long term OH F/T again may take a while to adjust to ......but it only takes a month to change a habit y'know;) Been there too.


The one big thing I found about having zero debt (and a then having a big wodge spare in the bank) is the total freedom of mind that it gives you.
Freedom to develop new things, concentrate on the little things, focus on the now....and you'll get odd moments like I had today......wafting around near lovely shops with lovely things and you can buy pretty much anything you want (cos the ££££ are unallocated and spare sitting in the account) and you choose not to. MFW is my new goal at the mo...and building the business which is kicking a $$ ...and will enjoy as long as the moment lasts.

Hope the sale goes through fine...are the kids going too or going to board in UK?
BTW the website looks really good too.:cool:

mrscmr

hi FC123
hope you are well... you sound like you are!
yes it will be so odd.
boys all coming with and off to good schools we just want to get there and have it all over with and on to our new lives
will be such a funny feeling, but we have all learnt so much and have a very lucky escape i think...
x

GDB2222

mrscmr wrote: »

have a very lucky escape i think...
x

If you can get away from £150k on the credit cards at 20%+ interest, that's a major escape IMHO. Have you tried negotiating a reduced payment to close these yet?

mrscmr

im in the process of negotiating... particularly with the ones in the payment plans ie egg i own 27k too and they are in payment plans... if i could get away with paying back 60% i would be happy.

fc123

mrscmr wrote: »

hi FC123
hope you are well... you sound like you are!
yes it will be so odd.
boys all coming with and off to good schools we just want to get there and have it all over with and on to our new lives
will be such a funny feeling, but we have all learnt so much and have a very lucky escape i think...
x

Hey..I know what you mean...but y'know what? All this life experience makes us who we are and then....da da....one day we sound like our grandparents (0-0)

I know your of your new location as my sis's bestest oldest friend now works /lives there..very high powered now yet she was a single mum aged 18 (and the bloke ran away) and kept at it...now she's 45 and owns a place there (and UK prices are nothing on there!) She's done good and her daughter is lovely and a credit to her. Funnily enough she has just met a v nice man for the 1st time in years....it all paid off in the end.

If you are on p-plans just give them a bell (always 2 days before the end of the month when there are targets to meet) and see what they say. We did deals varying from 40% to 70%. Play a little hardball....and ask for the offer in writing by e-mail.


Took me a few months to get used to living all together again (as son moved home whilst doing law conversion) but it's fine now and nice to have someone to chitter chatter to in the evening (even though they just want to shut off and watch crud telly).......and, though I know there are men on the thread:o..........only snag is he want's to go back to 'yknow what' every dam day...and I got used to once a week.:D

What you going to do with all your stuff...ship it out? Sounds like a big ebay project otherwise.

fc123

mrscmr wrote: »

im in the process of negotiating... particularly with the ones in the payment plans ie egg i own 27k too and they are in payment plans... if i could get away with paying back 60% i would be happy.

Start @ £10k.... you could get 14k on that one. What you paying pcm...the lower the better .....like £50.

mrscmr

ebay... lets just say.... im like one of the stores thats closing down....

We're closing down ... mad prices... its a bargain... get it whilst u can! have done 250 today in sales on ebay... and thats not even the big stuff!

xx

GDB2222

fc123 wrote: »

Start @ £10k.... you could get 14k on that one. What you paying pcm...the lower the better .....like £50.

If the debt is frozen in the debt management programme, so interest is not accruing, the debt is very much reduced in value. I am not an expert on DMPs so disregard this if my understanding is wrong.

As an example, a £24k debt on which you are paying say £100 per month is going to take 20 years to be fully recouped by the credit card company. That's all at nil interest if I understand correctly. If the credit card company does a discounted cash flow calculation at say 10% pa, the payments are only worth £10.5k to them. And they must be quite doubtful that they would get anything back from you if you disappear abroad.

As FC says, the lower the payments, the longer they'll have to wait for their dough and the less valuable the whole debt is to them. And as she says, start low and you can work your way up if necessary.

I have no real experience of this sort of thing, except that when my 18 year old got into trouble with his credit card (and was unemployed at the time) I offered them 50p in the £ and they took it quite happily. His credit rating was shot to ribbons after that, which was a definite plus point for me.

mrscmr

very interesting, yes for example egg turned my cc into a loan with no charges... hmmm will see what happens then!