The "Pay ALL your debt off by Xmas 2012" challenge - PART 2!!!

rdchick

theposhbint wrote: »

Hello!

Well I wrote telling them that I was wanting to deal with the debt but I wasn't in a position to pay in much more than the £30 fees a month, therefore the debt would take me an age to get rid of.

I did fill in an income form (but actually forgot to enclose!) but as I had other creditors I worked out a pro rata payment and they accepted it straight away, no hassles. The account is actually still there as normal, and my payments just go in to reduce the OD every month. The account isn't in use. (although it does say available funds £xx online) They are strict with payments though, I was told if I were to set up a dd/miss a payment I'd be taken off the plan straight away. I don't know about the credit rating tbh, but I knew mine wasn't great and it wasn't going to get better with that debt hanging over me with no end in sight. After setting it all up via letter I had to change my payment day on the phone - they were very accommodating I have to say. Good luck!

Ok, so I have to say I can't afford to pay them more than the fees and that I want to start reducing the balance and pay them the £60 I would normally pay for the fees as a way of reducing it. Can you pay more into it if you can or it's it only paid by the standing order/ DD?

I have to say Halifax on the whole have been very good Thank you so much for your advice! xxx

theposhbint

rdchick wrote: »

Ok, so I have to say I can't afford to pay them more than the fees and that I want to start reducing the balance and pay them the £60 I would normally pay for the fees as a way of reducing it. Can you pay more into it if you can or it's it only paid by the standing order/ DD?

I have to say Halifax on the whole have been very good Thank you so much for your advice! xxx

You can pay more, I did specifically ask on the phone and was told yes, no problem I would however do a few normal payments at first to get it going, I believe its monitored closely for the first 2 months then maybe up the payments. I wasnt offered setting up a dd, just to pay into the account as normal a few days before the payment date - I use a standing order and then just top it up when I can send an extra payment online.

Glad I could help xx

loubie_lou

I'm glad people are still joining us!

Remember Jemma, I am here to help if you need! :beer:

Worrier1957

I just want to add my admiration to all of you my debts seem small in comparison but they do not come without their worries (hence my user name - but in my 50's now and can not remember a time when the bank balance hasnt been overdrawn, juggling money to get afloat so any help, advice, tips etc would be greatly appreciated. It doesnt follow that you get wiser with age you just have less time to sort it out and enjoy life - can I be added to what ever there is out there that might help me "Be debt free by Xmas 2012" pllleeeaasseee! x

forgottendreams

hello and a slightly late happy new year my DFW's.

Just found the new thread.... and starting to make myself at home again

First of all i need to do a new total of debt... i think the figure may have gone up through xmas but im not surprised tbh

Just received a new c card with a good balance transfer deal so Im off to transfer my balances then I'll check back in with new total.

Looking forward to kickstarting 2012!!

forgottendreams

welcome aboard Worrier1957 - this thread is super for motivation, and bursting at the seems with hints and tips

rdchick

theposhbint wrote: »

You can pay more, I did specifically ask on the phone and was told yes, no problem I would however do a few normal payments at first to get it going, I believe its monitored closely for the first 2 months then maybe up the payments. I wasnt offered setting up a dd, just to pay into the account as normal a few days before the payment date - I use a standing order and then just top it up when I can send an extra payment online.

Glad I could help xx

My first thought however is will they chuck a default on my account by doing this?! xxx

LittleMsStitch

Hello Jemma (and everyone else)

Please can I join this challenge?

Between myself & my husband, we have £5,333.99 of credit card debt. We're aiming to pay this off entirely by the end of 2012. I'm hoping that by doing it this way (ie in public), it will keep us motivated and spur us on to get rid of all our debt!!!!

Thanks in advance

kerri_dfw

Welcome aboard worrier and littlemsstitch and welcome back forgottendreams
theposhbint you've just given me inspiration to call Lloyds TSB when I get home to see if they'll freeze my interest and reduce my overdraft each month if I agree to pay x amount. Worst that'll happen is they'll say no afterall

theposhbint

rdchick wrote: »

My first thought however is will they chuck a default on my account by doing this?! xxx

I didn't ask about this. Nothing was mentioned in the letters I received and 6 months down the line there's nothing on my credit file to say that ..my account is on my file, just with the current balance - payments on time etc. If its a concern I'd definitely ask