Pay Debts or Get Married?

euronorris

woody01 wrote: »

How on earth can you consider saving £400 a month when you don't even pay creditors on time>?

Erm....did I miss something. I don't recall the OP saying that they don't pay their creditors on time.

Was this mentioned in another thread?

euronorris

Beakatron wrote: »

Thanks for the further comments. I am happy to let you know we talked about what to do last night and the decision has come to we will pay the debts off first! I do feel like a weight has been lifted off my shoulders already. I also think that we will try even harder to get rid of the debt so we can get married as soon as possible. Hong Kong is also still being thought about, I think we will see how we go this year and make a decision on that later.

I also rang Lloyds last night and they have agreed a full and final settlement offer of £3000 (so saving about £1500!!), I did my best to get them down to £2400 but they were having none of it. So, I'm £600 short - my aim is to have this within the next month to 2 months and then pay off the loan, so I will personally be debt free :T, then we'll start working on OH's debt's. Thanks for everyones advice it's been a great help.

Great news about the loan! But, please make sure you get it in writing from them first. And they need to state in that letter that they will accept the payment of 3000 as full and final settlement of the loan. Other wording will NOT be sufficient.

So, please make sure you get that first. Plenty of lenders agree to these things over the phone, get the money and then claim that no such conversation took place. So, get it in writing. I know, I've repeated that a lot, but it's essential.

xx

Beakatron

euronorris wrote: »

Great news about the loan! But, please make sure you get it in writing from them first. And they need to state in that letter that they will accept the payment of 3000 as full and final settlement of the loan. Other wording will NOT be sufficient.

So, please make sure you get that first. Plenty of lenders agree to these things over the phone, get the money and then claim that no such conversation took place. So, get it in writing. I know, I've repeated that a lot, but it's essential.

xx

Thanks Euronorris I will definitely get it in writing xx

banwa

I'm glad to hear you have come to a decison. I think you had already made up your mind though or you wouldn't have posted in DFW, you were always going to get biased answers.

I'll add my tuppence worth though, and hope not to be shot down in flames. We decided to get married before we had paid everything off (we still had around £10k of debt), because I felt like if we put it off until 'we could afford it', we'd always find something else we should spend our money on. Our debt went up after the wedding but I don't regret it at all.:happyhear We are now tackling our debt together ferociously and somehow we do feel more of a team doing it. I really feel we are making much better in-roads into the debt now than we ever did before.

Of course saving for the wedding makes the most financial sense; but I think there are advantages to getting married first.

Oh and the other thing, even if you are doing it on the cheap, it always costs more than you would imagine. :eek:

savingmummy

Beakatron wrote: »

Thanks for the further comments. I am happy to let you know we talked about what to do last night and the decision has come to we will pay the debts off first! I do feel like a weight has been lifted off my shoulders already. I also think that we will try even harder to get rid of the debt so we can get married as soon as possible. Hong Kong is also still being thought about, I think we will see how we go this year and make a decision on that later.

I also rang Lloyds last night and they have agreed a full and final settlement offer of £3000 (so saving about £1500!!), I did my best to get them down to £2400 but they were having none of it. So, I'm £600 short - my aim is to have this within the next month to 2 months and then pay off the loan, so I will personally be debt free :T, then we'll start working on OH's debt's. Thanks for everyones advice it's been a great help.

excellent well done!!:j
I think thats a good plan x

woody01

euronorris wrote: »

Erm....did I miss something. I don't recall the OP saying that they don't pay their creditors on time.

Was this mentioned in another thread?

Yes you missed something.
Why would the OP be offering full and final settlements for loans if they were paid on time?

Moneytroubles_2

Its a toughy, but I will tell you about my personal experience, myself and OH booked our wedding in a hotel and was due to get married last year, we already had some debt before hand but we could manage, but before we knew it suppliers needed their money and we didnt have it, we tried to get a loan and got refused cue explosion of light bulb! we had to cancel our wedding, which was embarassing to say the least but it was the right thing to do - we are looking at getting married next year but on a much smaller budget, I have been to some weddings with big budgets and some with smaller budgets and can honestly i have not been able to tell the difference between any they have all been amazing.

good luck in whatever you decide to do xx

Moneytroubles_2

woops - just realised you already made your decision xx

jennihen

Beakatron wrote: »

Thanks for the further comments. I am happy to let you know we talked about what to do last night and the decision has come to we will pay the debts off first! I do feel like a weight has been lifted off my shoulders already. I also think that we will try even harder to get rid of the debt so we can get married as soon as possible. Hong Kong is also still being thought about, I think we will see how we go this year and make a decision on that later.

I also rang Lloyds last night and they have agreed a full and final settlement offer of £3000 (so saving about £1500!!), I did my best to get them down to £2400 but they were having none of it. So, I'm £600 short - my aim is to have this within the next month to 2 months and then pay off the loan, so I will personally be debt free :T, then we'll start working on OH's debt's. Thanks for everyones advice it's been a great help.

What better way to start married life than with a clean slate and a common goal.
Very best of luck for the future x

leanne82duke

Hi,
i know i am maybe the exception to the rule but we got married for less than £100 and yes you did read that right £100.

we had our wedding in a local registry office and didnt tell anyone.

a week later we invited the whole family up for a bbq telling them we had an announcement, (they all thought i was pregers) we arranged for them to stay in a local b&b if wanted which cost THEM £30 if they wanted it,

we also asked for everyone to bring bits such as burgers booze....etc one relie also bought his bouncy castle, we had a out local vicar pop round for a quick blessing and had the best day ever there was no formalities and did the whole lot in the back garden.

2 weeks after that we went to stay with my sister in washington for our honeymoon.
it was a total whirlwind, we only met 16 weeks prior to that.