Massive debts

gargrave50

Just about to do a letter to Next - F&F starting at 20%:D willing to go to 30%:cool:. Will let you all know the response.

gargrave50

F&F letter sent to Next Directory

7th November 2009

Next Directory
PO Box 4000
Sheffield
S97 3ET

Dear Sirs,
Account reference CAxxxxxx - WITHOUT PREJUDICE
I write with reference to the money which you are claiming on the above account.
I can confirm that I am unable to offer to pay the money which I owe in full, as you are aware I have been experiencing great financial difficulty and have negotiated much reduced payments with Next Directory since July 2009. However, I have received a “gift” of cash from a family member in an effort to help me settle my outstanding debt to Next, and can offer £203.13 as an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you or any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released from any liability.
I also specify that, if accepted, you will mark any entry on a credit reference agency file relating to the above account as "satisfied" in full. If you are unwilling to meet this requirement then the offer will be withdrawn, and the money offered to another creditor.
Payment can be made within 21 days of receiving your written agreement of this offer and method of payment. This offer will be available until 26th November 2009, at which time the offer will be withdrawn and the funds offered to another creditor.
I look forward to receiving your reply.
Yours faithfully,

ronnie_2

Was doing a bit of research into Barclays collections and came across your postings, lots of extremely useful information, thanks.

Ive been coming home from work and noticing an average of 12 calls a day from them!! Although thats going to stop since BT have cut me off

Took up the courage and phoned them via the mobile, agreed a payment plan £20 a month till early next year

Oh saw your posting about the house, thats just along from my friends. Small world.

gargrave50

Thanks Ronnie, glad my post about Barclaycard was useful. I am saving to make a full and final offer to these idiots however I have read that many people haven't had much success with making low F&F. I love the house - hope hubby agrees to go for it, as when the market rises its a house we could never afford.

gargrave50

Hi all, have been travelling overnight to get back down to London and had a clinic today so haven't been to sleep yet since I got up yesterday at 9am:eek:. Knackered! Arranged a second viewing on the house for hubby this Friday when I am home and DS is in school.

Hubby's friends sister is a financial advisor and is going to get us some firm figures on the mortgage. Hoping Next will accept my F&F or at least offer something in the ballpark - I'd love to get rid of this one:D!

gargrave50

Feel like I'm getting back in my groove with the debt busting after becoming quite complacent (and just plain lazy when it came to posting:rotfl::rotfl::rotfl::rotfl:)

gargrave50

Long shift today (0715-2030:eek:) so not much from me today. Looking forward to flying home Friday morning.:D

gargrave50

Evening all - what a long day:T! Hubby coming around to the idea of the new house - even going to arrange his friends wife (financial advisor) to check out mortgages for us to check if it is truly affordable. Nothing else from me I'm afraid - heading for a bath, glass of wine and an early night:D

Tixy

Just caught up Gar

Glad you liked the house - sounds like OH understands it would be a good deal, I love the term 'forever house' - very Phil & Kirstie. Hope its good news on affording a mortgage and that your letters to keep creditors at bay have helped to make it do-able.
Fingers crossed for you.

So are you doing 'real work' now rather than shadowing others and learning the job? Hows it going? are you enjoying it and is it what you imagined?

jazza77

gargrave50 wrote: »

Been thinking about the mortgage all night - we need to get £120k for our house which would pay off our mortgage, secured loan and car (is this a good plan?). Then if we get the house for £190k we could start from scratch and our only outgoings would be the mortgage:D. Need to get some figures together to convince hubby. If the house is valued at £220k, we get it for £190k surely that would mean if we had to borrow £190k to mortgage that wouldn't be 100%? I think thats a rough estimate of 85% LTV? Any advice appreciated:D

Discovered your diary the other week and have read thru all of it - ur an inspiration to others like me :T.

Re. loan to value though, unfortunately I think you'll find that the bank will use the lower of the valuation or the price paid