Hello you good people

2impatient

At Last !

It seems that i have found somewhere that makes me feel I 'm not on a sinking ship. What a great forum.

I am 28 married with 2 children, renting, and trying to become debt free.

We paid off £9500 of debt last year with only £4500 by making offers to settle debts there and then with some insurance money from a minor car accident i was involved in. The world works in mysterious ways.

Most creditors, Barclays, barclaycard, capital one, arcadia group, and
GE money offered a 50% reduction in our debt if we paid up but we were cheeky and pushed them by saying we didnt have quite have what they were asking and might just have to leave it and pay off a smaller debt with someone else. They soon dropped the price some more!

It seems if you've not paid anything for a while they'll take much less than what you owe as theres a high chance they will get nothing.

Anyway we still owe £14,000 and thats not proving easy to shift.

I'm starting to get stressed about it. We have an arrangement to pay on the big loan and are chipping away at the rest. My credit rating is a mess with 6 defaults and inaccurate info re: electoral role. I have added a notice of correction to my file as i've been here for 3 years and it's showing as one
due to a name change last year when we married. Still showing as 1 year though. Grrrr :mad:

I'm hoping to find some help and reassurance that things are not as bad as they seem, as it's so hard sometimes.

(Especially when the days are dark the weather awfull and the bank empty)


January:sad: Need i say more.

C

x

Triker

Hello and a warm welcome to the debt free board.:T

You appear to have done really really well reducing your debts in a short amount of time.

Don't know if you are aware but you can claim bank/credit card charges back. You can claim up to 6 years ago so may be worth pursuing, thread here
http://forums.moneysavingexpert.com/forumdisplay.html?f=102

Explains it all.

Also there the Pigsback thread whereby you can gain free vouchers for clicks on the Pigsback thread located on the Freebies board, please read posts 1 and 2.

The oldstyle crew can perform minor miracles with ideas to feed your family for about 14p a week............................actually slight exaggeration there but they have belting recipe and shopping guides and just loads of stuff so even though your cutting back you eat healthily.

Feel I must warn you that falling on to the MSE planet may result in significant time on the computer, obsessive posting and the urge to tell members of the general public your latest find/great money saving idea on here. :rotfl:

CLAPTON

without seeing details of income, spending, debts and general situation it isn't possible to give any meaningful advice.

so post an statement of affairs SOA with this format:

a. list of income
b. a detailed list of spending (include mortgage and secured debt but exclude unsecured debt)
c. a total of spending as above
d. now you can see how much you have to pay debt monthly by forming income minus spending
e. a list of unsecured debts i.e. debt amount, monthly debt repayment , APR
f. a total of unsecured debt and of monthly unsecured debt repayment
also say if you rent or buying , if so how much is the house worth and how much the mortgage, also your general situation: partner, children, working etc.

Verbatim

Welcome and well done on your excellent negotiations with the banks!

Hope to see around here some more.