Completely lost, very long post - need a lot of advice/direction

philnicandamy

TottalyLost wrote: »

The only worry would be ensuring they all freeze interest.... Maybe I should state in my letters to them that I will make the first payment "as soon as I receive a written confirmation that the interest has been frozen"?

Hmmmmmm

.....if you dont ask you'll never know
its worth a shot

TottalyLost

Philnicandamy - sure thing but what if they do not?
Any options then? Apart from the possibility of NEVER paying the debts off?

Also, I have the figures from last year October - what if they doubled due to charges etc? Can I argue (well, TRY to argue re the original figures?)

meerkat2007

TottalyLost wrote: »

Meercat - if you are reading this... With your DIY arrangement, did you send any SOA or proof of bills/payslips etc?

I'm a-reading this

Ok, the most recent contact I've had with creditors was early this year, when Hillesden took over my HSBC/First Direct debt from Metropolitan Collection Services. They wanted me to send payslips and fill in the form they sent to me; I refused to send payslips on the grounds that payslips contain a lot of personal information and I was concerned about the risk of identity theft - apart from anything else, if your letter goes astray, you don't want your payslips going astray as well.

They also sent a form, asking for details of my expenditure: I did not fill this in, as I was feeling rebellious enough to want to detail my expenditure my way, not theirs, so I sent a letter with a table showing my income, a list of my expenditure (see below):

Mortgage
Secured Loan
Car HP
Council Tax
Water Charges
Gas
Electricity
TV Licence
Mobile Phone
Phone/TV/Broadband
Housekeeping
Road Tax
Petrol
Breakdown
Service & Repairs
House Ins (Bldg & Contents)
Car Insurance
Utilities Ins
Life Insurance
Personal
Holiday
Union Subs
Pet Insurance
Pet food


I took the total expenditure from my income, showing how much I had available for my debts, and then I listed my creditors with the outstanding balances, but I didn't name names:

Creditor 1
Creditor 2
Creditor 3
Creditor 4
Hillesden Securities (DLC)
Creditor 6

Just like that, but with the amounts, and then I duplicated the table below, showing the pro rata payments due to each one. As it happened, the pro rata payment for Hillesden was less than I was intending to pay them, so I guess they were happy with the idea that they were getting more than was really due to them. They then sent me a letter accepting the arrangement.

In summary, I sent them a letter telling them what I wanted them to know - no other evidence of anything. But I would stress that what I told them wasn't far from the truth - just far enough to make my life that little bit easier, and that I have plans to increase my payments as and when I can.

When I had a lot of creditors, I found that they contacted me every so often looking for more money, and years ago, when I first started (long before finding MSE), I used to cave in, but having found MSE, I stood up to the creditors more (in writing) and if I couldn't afford an increase at the time (due to increases in the cost of living or whatever), I told them that, but that I could continue paying what I was already paying. As far as I can recall, that worked ok.

Good luck! I hope this helps.

TottalyLost

Meerkat - thanks for that.

I have 7 creditors at the monet and whn I manage to locate who they are now (the debts were sold, possibly more then once) I will do exactly the same.

Has anyone questioned you about yoru listed expenditure?

I know some of mine (dog walking for example) may seem unreasonable for some but I still feel I am going to push and push (and push) to offer £500 (see my table of prospective offers few posts above) and no more as any more will put me in a position that I simply won't be able to make the payments.

And £500 per month will clear my debts in 5 years (plus whatever is there extra in fees/interest so far etc - maybe an extra year - won't know till I locate the current creditors).

It is not about lying and trying to wriggle out of payments but about making it all possible.

Thanks a lot again for your post....will sleep better tonight

Still that one thing - what if they refuse to freeze the interest, what is the interest/fees they have added since October 2008 are too high?

Francesanne

Merry_Gentry wrote: »

Morning TottalyLost

I think what FrancesAnne was trying to say is that if you continue the way you have before, you will get the same result. You are going to have to make cutbacks once you go bankrupt - you won't have access to credit at all, and now is the time to see where you can make these changes. Totally understand the need to look professional in your job, etc but the areas that have been pointed out to you - the dog walkers, the clothings expenses, etc - seem to be logically places to start making these changes.

Obviously these are just suggestions - in the end, you are the only one who can decide where and how to spend your money once the OR has made his ruling, but I don't think anyone was trying to have a dig at you (hopefully).

That's exactly what I was trying to get over and thank you for explaining it so well. Was just trying to point out area's where it was possible to save a lot of money but she obviously didn't welcome my suggestions. Think if you've found yourself in this situation for whatever reasons you have to rein in your spending and certain things have to go.

Francesanne

TottalyLost wrote: »

Francesanne - you sound very bitter but please try not to take your life's frustrations on me here as I have no intention to explain my life in details or apologise for anything to you on here. I will spend whatever I need to/have to spend to KEEP my job - be it on clothes/haircut/courses that I pay for myself to be up to date with what I do. I do nto expect you to understand but I also do not expect you to comment on things you obvioulsy know nothing about.

This is supposed to be a SUPPORT/ADVICE forum, if you have nothing to offer in terms of support/advice I am asking you to please not post on my thread trying to "have a dig" at me here.

Thank you and have a good night.

I'm certainly not bitter about ANYTHING. I've only suggested ways you could save money and you've gone on the defensive. I appreciate some people don't like constructive advice and you're obviously one of them.

TottalyLost

Francesanne wrote: »

I appreciate some people don't like constructive advice and you're obviously one of them.

And I appreciate some people do not understand being asked to stay out with what is not considered constructive advice and you are obvioulsy one of them.

Now, let's leave it here please and I am asking you again not post on this thread any more and concentrate on the other threads I have seen you posting on - enjoy.

*************************

Thanks again everyone else for useful, constructive advice which I have taken all on board.

blind-as-a-bat_2

Whith all due respect, and i am posting this before some troll see's it and has a field day with it, this is a public forum, that means anyone can reply with there view, you dont get to pick and choose im afraid TottalyLost

The only thing i see wrong in Francesanne's post is that you did not like what she posted, wether it was valid or not, in your view, does not mean it is not valid.

Just remember, as you have already relised, there are many ways to solve your debt problem, this and the other boards are here to give you views on those differant ways, just because you did not like one view does not justify your response TottalyLost, nor mean that view is not a valid alternative.

If you did not realise that, or cannot accept that, maybe it was a mistake you posting in such a public place as this

meerkat2007

TottalyLost wrote: »

Meerkat - thanks for that.

I have 7 creditors at the monet and whn I manage to locate who they are now (the debts were sold, possibly more then once) I will do exactly the same.

Has anyone questioned you about yoru listed expenditure?

You're welcome - I hope it helps. At the height - or should that be depth? - of my financial problems, I think I had about 15 creditors altogether. I'm now down to 2 from the time when it all went wrong, plus mortgage, bank overdraft and car HP.

As for my expenditure, no one has questioned the items or the amounts. Maybe I have just been lucky!

TottalyLost

Blint-as-a-Bat - thank you for your post but lets just agree to disagree in that particular matter.....If I ask someone 3 times.... never mind.

Meercat - thanks again, I need to wait for next week (got some family issues to sort out first) and will start the process.