£100,000 Debt "club"

Debtomaniak

Justindebt wrote:

Anyway, enough of this drunken frivolity.

Have you made him call the CCCS again?

Yes, they said that they do not send an IVA information pack out, because they do not have any, but we can find out about it on their web site.
We have talked today, and just wondered, if it is worth selling the house and then trying to write to all of our creditors ourselves, maybe some will except a lump sum if it was only half of the outstanding amount or not half, but at least less then 100%. If not, than we can get an IP to do it for us?

bikerqueen

Are you defaulting on your debts yet? If not, what is their incentive for accepting a reduced sum?

Debtomaniak

bikerqueen wrote:

Are you defaulting on your debts yet? If not, what is their incentive for accepting a reduced sum?

Hi,
no we are not defaulting yet, but with my husband beeing out of work for quite a while now and beeing on benefits and the fact that we will no longer own a property in creditor's eyes will look pretty bad. And when we contact them to offer a nice lump sum, that they can have immediatelly, I am HOPING they will grab it. If not, we move on to plan B, do not ask me what it is, because depending on information I get every day, our plans are just keep changing.

Emmzi

They won't take a reduced offer if there is equity/cash there - why would they?

Sorry to be a pessimist, but I would plan on
-sell house
-repay in full
-how do we cope with what we have left over?

If you do manage to do better, well, great -but don't in any way bank on it

kickingkay

Debtomaniak wrote:

Hi,
no we are not defaulting yet, but with my husband beeing out of work for quite a while now and beeing on benefits and the fact that we will no longer own a property in creditor's eyes will look pretty bad. And when we contact them to offer a nice lump sum, that they can have immediatelly, I am HOPING they will grab it. If not, we move on to plan B, do not ask me what it is, because depending on information I get every day, our plans are just keep changing.

hi babes you do relise as well though that when you sell up if hubby is out of work, his benifits might be stopped if they think you have money to live on
sorry but it is another area you will need to check out before you decide
anyway well done for ringing them have they booked an appointment when a councillor will ring you and get all your information, yet?
hope it gets easier soon and im always here to try and jolly you along xx:rotfl:

Debtomaniak

Emmzi wrote:

They won't take a reduced offer if there is equity/cash there - why would they?

Sorry to be a pessimist, but I would plan on
-sell house
-repay in full
-how do we cope with what we have left over?

If you do manage to do better, well, great -but don't in any way bank on it

Thank you. I am just being me, really, get carried away sometimes, dreaming. Thinking realisticly they probably reject our offer and it will be just another set back and we will get upset again.
I have been thinking about what someone here said earlier to me (looked back can't find who it was) that we have enough money in our property to settle all of our debts without going for IVA and start from clean, with no bad credit rating. Which is what you are saying as well Emmzi. I thought to myself " Wow, we could be debt free, no nasty records, and as soon as our house is sold". And just for a second I felt so great, I felt like that was our solution. I have now got to convince MR Debtomaniak, that this is the thing to do. Just thinking, it is going to be painful enough to move out, make decission what to do with all the stuff we can no longer keep (furniture, garden tools...), if we sell everything, it will go for pennies, if we put in yellow storage, we have to pay out, etc. So how do I now, convince may lovely poor hubby, that this is the right thing???:o
I feel a bit relieved actually, now that what I thought today, I put in writing and it all suddenly seems so clear! This is what we have to do, lets go for it! Ha-ha, got my hubby downstairs all grampy, doesn't reaaly want to talk to me about it anymore. I have been pushing him since Monday this week, think it is a bit too much for his liking. Maybe one day he will thank me, though, so I have to keep at it, aren't I?:o

Debtomaniak

kickingkay wrote:

hi babes you do relise as well though that when you sell up if hubby is out of work, his benifits might be stopped if they think you have money to live on
sorry but it is another area you will need to check out before you decide
anyway well done for ringing them have they booked an appointment when a councillor will ring you and get all your information, yet?
hope it gets easier soon and im always here to try and jolly you along xx:rotfl:

AAAARRRRGGGG!!!! NO, no, no. Sorry, feel better now, that I have shouted.:D No actually, I did not think about that one. Do not know what to say really. I will cry. No hang on a minute, hopefully by then, all his worries will be behind and he can get himself a job. Oh God, he will not will he? Oh! I do not know. Panic! Panic! Sorry being silly now. Oh sod it, if they do, they do, we will just have to get over it.
No he has not made an appointment, because our decission at the time was, to get an appointment with IP guy. Wait till I tell him, I want him to pay all of his debt instead! Think he might want to kill me. (kidding):o

kickingkay

Debtomaniak wrote:

AAAARRRRGGGG!!!! NO, no, no. Sorry, feel better now, that I have shouted.:D No actually, I did not think about that one. Do not know what to say really. I will cry. No hang on a minute, hopefully by then, all his worries will be behind and he can get himself a job. Oh God, he will not will he? Oh! I do not know. Panic! Panic! Sorry being silly now. Oh sod it, if they do, they do, we will just have to get over it.
No he has not made an appointment, because our decission at the time was, to get an appointment with IP guy. Wait till I tell him, I want him to pay all of his debt instead! Think he might want to kill me. (kidding):o

look it will be ok, you have ages til then, so dont panic now,he will have to get a job if you are going to think about another mortgage, i just dont want you to think that you can have your cake and eat it if you know what i mean, the lesson ive learnt are hard ones the hard way im not saying it sfo rdefinate he might still be entitled to unemployment benifit,
anyway big brother is on so i need to go and switch off for a bit i will be on later if ya want me shout x

(not that im saying you shouldnt be allowed your cake and eat it, but yoyu can garantee someone will be there to pull the rug from under you just when you think your safe x)

Debtomaniak

kickingkay wrote:

look it will be ok, you have ages til then, so dont panic now,he will have to get a job if you are going to think about another mortgage, i just dont want you to think that you can have your cake and eat it if you know what i mean, the lesson ive learnt are hard ones the hard way im not saying it sfo rdefinate he might still be entitled to unemployment benifit,
anyway big brother is on so i need to go and switch off for a bit i will be on later if ya want me shout x

(not that im saying you shouldnt be allowed your cake and eat it, but yoyu can garantee someone will be there to pull the rug from under you just when you think your safe x)

Thanks, I know what you mean. It is because, people are beeing so kind to tell me the truth, I am able to make my decissions. Information is a powerfull tool. So thank you, you are very lovely and so is everyone who is helping me along the way, and even what the he-l lets thank those who did not bother neither (he-he).:D

kickingkay

Debtomaniak wrote:

Thanks, I know what you mean. It is because, people are beeing so kind to tell me the truth, I am able to make my decissions. Information is a powerfull tool. So thank you, you are very lovely and so is everyone who is helping me along the way, and even what the he-l lets thank those who did not bother neither (he-he).:D

thats teh spirit babe THANKYOU to all you miserable bleeders who walked on by,,,,,, do do doo, when you see me walking down the street walk on by
sorry i think your a lovely lass trying to make teh best from a bad situation i take my hat off to you and you make me laugh too!:T