Help with how to sort out my 24000 debt

DarkConvict

Calm down mharwood, everyone has different experiences. With your taxable benifits, you are probably only on £2000 less than kokolo. I know PhD jobs arent high paying to start with, his PhD loans were probably graduate loans so at a lower APR than yours, but he did well to pay £650 a month. It can be amazing at how cheaply students can manage to live, quality of life vs debt repayment.

But you suffered with medical discharge so your life has taken a completely different swing and you deal with it the best you can. I agree not to pay a DCA in full because by selling a debt the creditor has already written off over 50% of the money. DCAs will always treat you as paying the debt in full, unless you can offer a quick settlement figure in one go.
I agree about the PPI if it was missold, follow the PPI guides, potentially even contact the FOS over how you feel the loan was sold originally.

Oneday77

koloko wrote: »

>>>
However have sorted myself out, got married and have a half decent job however this £24800 will be hanging over me for the rest of my life at this rate

I have offered to pay £8000 at £100 per month until paid but they turned that down.

Are these the only options?

Matt

No. Another option is to stop being so tight. I was £32,000 in debt when I finished my PhD, and I have paid it off in 6 years at £650 a month with only a half decent paying job. Why are you only offering to pay back £100 a month? It doesn't seem entirely fair that you borrowed a large sum of money, have a half decent job and now refuse to pay it back at a rate of more than £100 a month. My advice to you would be to take responsibility for your actions and start a 6-7 year repayment plan.

Read the Etiquette link at the top of the page. Then also think what you have posted.
Well done you managed to pay £32,000 off in 6 years, people can't always afford £650 pm payments, if you always could you wouldn't have run up the debt in the first place. Show respect and support people on here not insult.

DVardysShadow

Oneday77 wrote: »

Read the Etiquette link at the top of the page. Then also think what you have posted.
Well done you managed to pay £32,000 off in 6 years, people can't always afford £650 pm payments, if you always could you wouldn't have run up the debt in the first place. Show respect and support people on here not insult.

I think DarkConvict was more close to the mark. mharwood is the one who has thrown an abuse word, not koloko. If koloko's situation matches mharwood's fairly closely, it might be a bit galling for koloko to see mharwood let off, so I would cut some slack for that

Oneday77

Fair enough on the word use, however if everyone on here was refered to as tight as they can only pay so much towards a debt then we are all in the wrong. Also does that make all of N-I-Ds threads insulting when people can use unenforcaeability. I just take offence to the moral high ground on this board that's all.
I did acknowledge that Koloko did well to pay the debt off, which is to be commended. His argument could have been worded so much better. More like post and SOA so we can help see if you can jiggle the available funds to pay more. That is what people do on the DFW board is it not?

DarkConvict

*Scrolls up the page

* Scrolls back down the page

I concur Oneday77, we need to see an SOA - http://forums.moneysavingexpert.com/showthread.html?t=107280

I also agree, Koloko post could be more well worded, it was similar to me saying i finished a 6 week assignment in 3 days whilst everyone is groaning about it, i could have announced with a little less smirk

mharwood

Ok I agree I should not have called him a Kn**, however at no point did I ask for sarcastic comments, I asked for advice and that is were the difference lies.
Our two situations are not even close he went to Uni and accrued 32000 of dept, while mine is a joint loan, All of his debt are his doing however only 9000 of the 25000 was originally my debt, yes it was my responsibility I should have said NO but when you are that low and depressed its very easy for people to take advantage. Yet I am expected to pay the whole amount, if it had been still with the bank I may have been tempted, but as they have passed it to a DCA for a pittance why should I pay the full amount.
Also if he was paying £650 a month then he must have been living at home or something as there is no way that you could do that in the real world when you have bill etc to pay, well done to him if he was lucky enough to be able to scrounge for 6 more years LOL see I can be sarcastic to.
I was also single at the time the debt went into default and only on 16500 a year so once I paid for somebody else’s mortgage and bills there was no money, I may be a little better of but I have added responsibility and have to pay half of the bills as well as run a car, once I’ve paid for everything there isn’t much left.
If you want to get all high and mighty then I can do the same koloko its because of us Forces guys that you can go and do your Uni degrees its us who are giving our lives daily for a pittance so you can have that privilege and don’t forget most forces guy once they get out or are medically discharged are never given the treatment that we need to deal with life out of the military. Its actually quite scary if you look at the statistics on ex military who end up in jail, homeless, commit suicide, have breakdowns, end up which huge debts etc.