Going to start to pay of my debt very slowly but very steadily though... :)

Spanish898

Heres the letter that ive written and am going to post to the bank next week to start up my monthly repayments-

[FONT=Arial, Arial, sans-serif]Dear Sir/Madam
[/FONT]

[FONT=Arial, Arial, sans-serif]Re Account Numbers- …………………………………………
[/FONT]

[FONT=Times New Roman, serif][FONT=Arial, Arial, sans-serif]I am writing to you regarding the above agreement as I am currently experiencing financial difficul­ties.
I am having problems meeting the contractual monthly payments for the last 9months to my account due to losing my sole source of income from being self-employed,
and then being able to get a job, made harder by the increasingly high level of unemployment in the economy currently.

I have now however managed to get a job,
and so am please to say that I will now be able to start making payments to gradually but steadily reduce the debt i've incurred through these 2 credit cards.[/FONT][/FONT]
[FONT=Times New Roman, serif][FONT=Arial, Arial, sans-serif]
[/FONT][/FONT]

[FONT=Times New Roman, serif][FONT=Arial, Arial, sans-serif]I have enclose a Financial Statement which outlines my present financial circumstances and shows, that after meeting essential expenditure, I am left with only £50 per month to meet my credit commitments.
Based on an equitable distribution of my available income to all my creditors, I am able to offer you a total payment of £50 per month.


I would also request that you freeze interest and charges in order that I can make some inroad into reducing my debt.
Since unless interest is frozen on my account I would simply be continuously paying off interest each month, and never actually reducing the debt.
[/FONT][FONT=Arial, Arial, sans-serif]So I will only be able to fully comply and follow through with this offer of payment if you agree to freeze all further interest both my accounts[/FONT][FONT=Arial, Arial, sans-serif].

[/FONT][/FONT]

[FONT=Arial, Arial, sans-serif]Even making the payment at the level I have offered will be a big financial strain,
especially since I will not be able to build-up any savings to safeguard myself against future redundancy, as all my spare monthly income will be being used to repay the credit cards.
[/FONT][FONT=Arial, Arial, sans-serif]Therefore I will not be able to enter into any negotiations with you about me making even higher monthly payments. As the current offer of £50 total repayment per month (£25 per account) is the best I am able to offer.[/FONT][FONT=Arial, Arial, sans-serif]

[/FONT]

[FONT=Times New Roman, serif][FONT=Arial, Arial, sans-serif]If my situation improves I will of course contact you immediately with an increased offer of payment though.




If you are not willing to accept BOTH the terms stated above of freezing all interest on both accounts so that I can start reducing the outstanding debt,
and willing to accept my monthly payment offer of £50 total,
then regretfully I will not be able to continue any further negotiations with you in relation to reaching a settlement,
as I feel the repayment offer I have made is both reasonable and sustainable.



However I hope that you will see that I have made a reasonable offer of repayment at a level of which I can just about afford to maintain,
and so in return will accept my request of freezing all interest and charges on the accounts,
so we can set-up this monthly repayment schedule.


I would be grateful if you would now forward to me a paying-in book or standing order/direct debit form in order to facilitate payment.




[/FONT][/FONT]

[FONT=Arial, Arial, sans-serif]Thank you for your assistance in this matter.
[/FONT]

[FONT=Times New Roman, serif][FONT=Arial, Arial, sans-serif]Yours faithfully[/FONT][/FONT]

inmypocketnottheirs

Just found this thread from the other thread by the OP.

Not for one moment do I think the OP is serious about paying off this debt. More about supporting the currennt lifestyle whilst making a token minimum payment to prevent the ramifications of not managing debts.

A complete nugget.

angelicmary85

I'm not going to comment on OP's thread here or the other one but can someone tell me his old username...curiosity has suddenly got the better of me!

Spanish898

inmypocketnottheirs wrote: »

Not for one moment do I think the OP is serious about paying off this debt. More about supporting the currennt lifestyle whilst making a token minimum payment to prevent the ramifications of not managing debts.

Yes your correct, i personally dont give a **** about moralistic side of things when it comes to money or personal gain. :rotfl::A

You can call me whatever names you like, but thats just how i choose to be and im proud of it.

Life isnt fair, business isnt fair, money isnt fair,
The banks are just normal companies like the millions of other companies around the world, and so just like other companies they also have the unfairness of doing a job that deals with money and business.


And so yes, i only have 1 life and so i make sure i enjoy it as much as i can and get the best out of what i can in it,
and so im not going to change my entire and live a mundane low budget existence just to help out some company who doesnt give a toss about me! :rotfl:

I am willing to completely wipe off all the debt though, and am offering a reasonable monthly payment offer which i could comfortably afford to sustain.
Since theres no point me offering them £200 per month, but then struggling every month to pay that and if i lose my job of get less hours not being able to pay it...,
so instead im gna only be willing to make this payemnt that i know i can comfortably sustain.



If i was making just a token payment that would be me offering £1 per month. :rolleyes:
Which wouldnt ever clear any of the debt.



So instead im willing to offer £600 per year, which will clear the entire debt in 13years.
(Half the time of the average mortage) :A

dmg24

angelicmary85 wrote: »

I'm not going to comment on OP's thread here or the other one but can someone tell me his old username...curiosity has suddenly got the better of me!

beta89 ...

http://forums.moneysavingexpert.com/member.html?u=674665

Tiddlywinks

Spanish898 wrote: »

You can call me whatever names you like, but thats just how i choose to be and im proud of it.

But with this attitude I don't see you being called "PC Spanish898" any time soon and I thought your main goal was pursuing a role in law enforcement:rolleyes:.
..............

And so yes, i only have 1 life and so i make sure i enjoy it as much as i can and get the best out of what i can in it,
and so im not going to change my entire and live a mundane low budget existence just to help out some company who doesnt give a toss about me! :rotfl:

Not "helping them out" but paying back the money you have already spent and now owe them.

Since theres no point me offering them £200 per month, but then struggling every month to pay that and if i lose my job of get less hours not being able to pay it...,
so instead im gna only be willing to make this payemnt that i know i can comfortably sustain.

Drink less booze and give up Sky TV and you could "comfortably" manage higher repayments couldn't you?

Grow up - you either want to be an adult in a grown up's job or you want to spend your life living like a teenager and making no realistic plans for the future - I can clearly see which route you have in mind here:rolleyes:.

If you really want to join the the Police then you need to start migrating towards a life and an attitude that will stand up to the scrutiny involved in the vetting process - and currently you will fall down as you seem to give priority to drinking to excess and avoiding you debt responsibilities.

Wesker

Spanish898 wrote: »

Im trying to get into the uniform police, however to pass vetting they will look at my financial background and will reject me unless it shows that im managing any debts i have... :(

I think they will reject you for having too much alcohol in your blood :rolleyes:

theoretica

Spanish898 wrote: »

[FONT=Times New Roman, serif][FONT=Arial, Arial, sans-serif]I have enclose a Financial Statement which outlines my present financial circumstances and shows, that after meeting essential expenditure, I am left with only £50 per month to meet my credit commitments.
...
[/FONT][/FONT]

[FONT=Arial, Arial, sans-serif]Even making the payment at the level I have offered will be a big financial strain,...[/FONT]

Is this financial statement going to be similar to the one you have posted here? I think the bank might have different ideas of financial strain to you.

angelicmary85

dmg24 wrote: »

beta89 ...

http://forums.moneysavingexpert.com/member.html?u=674665

hahahahaha!

Spanish898

theoretica wrote: »

Is this financial statement going to be similar to the one you have posted here? I think the bank might have different ideas of financial strain to you.

:rotfl:

Nah of course not mate.

Heres the one i have i use for banks-