Owe just over £10000 to 28 different companies

Timetogetfree

Ok to start with i have made plenty of mistakes over the last 9 years but thats now i have made it my mission to change.

I owe 28 companies just over £10000 that i am aware of and just gonna tell my story of how i get on for anyone else in the same boat.

Firstly i have gathered all the emails and letters i have lying around and made a list of the companies i owe too.

They are as follows;

Loan Store 357.57 now at 286
MM finance 427.55 now at 377.50
accessfastmoney 300.60
CapitalFinanceOne 356.63
CashConverters 507
Cater forbes - uncle buck 30
EON 948
1MonthLoan - Mmfinance 347
FancyaPayday 216.39
Lowell 150.78
Mackenziehall - Peachy 211.75 now at 105.87
3 mobile 83.52
The MoneyShop 231.85
Payday uk - MemCapital 500
BT - Past Due 225.38
Quid24 300
Txtloan - Fredrickson 402.25
wagedayadvance - mmfinance 794.62
wonga 923.12
halifax bank 150
halifax credit card - 1st Credit 1423.08
Paypal 400
Ebay 30
Bonga Loans 640
Advantis - Txt Loan 272.52


As you can see i have started to pay off some of the debt as these are ones i have had constantly lettering and calling me.

Just so that you no abit about my current status i am working full time with a salary of £37k a year. I also do extra work every few weekends meaning i take an extra £200 a month home with me which i am putting straight into paying off my debts.

I am now in the process of contacting all of the Priority debts and debts that have chased me up in the last 6 months to either come up with a payment plan that will fit into the £400 a month budget i have for paying the debt off or come up with a reduced settlement offer.

All i can say about my debt is i have been putting this off for years meaning i have the worst credit score ever and cant even get a phone contract.

Will update this every few weeks to keep everyone informed on how the companies have reacted and quickness in replys plus any reduced offers they have expected.

Speak soon

Added current owed

Timetogetfree

Timetogetfree wrote: »

Ok to start with i have made plenty of mistakes over the last 9 years but thats now i have made it my mission to change.

I owe 28 companies just over £10000 that i am aware of and just gonna tell my story of how i get on for anyone else in the same boat.

Firstly i have gathered all the emails and letters i have lying around and made a list of the companies i owe too.

They are as follows;

Loan Store 357.57
MM finance 427.55
accessfastmoney 300.60
CapitalFinanceOne 356.63
CashConverters 507
Cater forbes - uncle buck 30
EON 948
1MonthLoan - Mmfinance 347
FancyaPayday 216.39
Lowell 150.78
Mackenziehall - Peachy 211.75
3 mobile 83.52
The MoneyShop 231.85
Payday uk - MemCapital 500
BT - Past Due 225.38
Quid24 300
Txtloan - Fredrickson 402.25
wagedayadvance - mmfinance 794.62
wonga 923.12
halifax bank 150
halifax credit card - 1st Credit 1423.08
Paypal 400
Ebay 30
Bonga Loans 640
Advantis - Txt Loan 272.52


As you can see i have started to pay off some of the debt as these are ones i have had constantly lettering and calling me.

Just so that you no abit about my current status i am working full time with a salary of £37k a year. I also do extra work every few weekends meaning i take an extra £200 a month home with me which i am putting straight into paying off my debts.

I am now in the process of contacting all of the Priority debts and debts that have chased me up in the last 6 months to either come up with a payment plan that will fit into the £400 a month budget i have for paying the debt off or come up with a reduced settlement offer.

All i can say about my debt is i have been putting this off for years meaning i have the worst credit score ever and cant even get a phone contract.

Will update this every few weeks to keep everyone informed on how the companies have reacted and quickness in replys plus any reduced offers they have expected.

Speak soon

Also i have tried to get a debt consolidation loan with no joy also. Shame as that could have resolved it all with less hasstle.

Own_My_Own

You have taken the right step coming on here.

We are here to help and listen (Well read) .

Everyone will ask you to do a Statement of Affairs.

I can never get the link right, but I am sure some one will be along soon with it.

E.ON_Company_Representative:_Helena

Hi Timetogetfree,

The people on this board are fantastic and will help so much:T.

I noticed you owe some to E.ON, so wanted to give you a few options and help you sort this one out. One less thing to worry about.

Are we still your supplier? If so then we need to get something sorted out to cover your ongoing usage as well as paying off some of the debt.

Once you have got something in place the debt collection follow up will stop.

There are a number of ways to pay, monthly, weekly, fortnightly or if you would prefer we can arrange to have a pre-payment, meter then you can pay the debt back weekly through the meter.

When you call us also ask about tariff's make sure you're on the best one for you.

Hope you gets things sorted and good luck with everything.

Helena

Timetogetfree

Helena,

No i have moved since as this was about 3 or 4 years ago and i havennt heard anything since, i will be contacting them in the next few weeks to arrange a repayment plan. Which is the best department to speak to?

E.ON_Company_Representative:_Helena

Timetogetfree wrote: »

Helena,

No i have moved since as this was about 3 or 4 years ago and i havennt heard anything since, i will be contacting them in the next few weeks to arrange a repayment plan. Which is the best department to speak to?

Thanks for the quick reply!

I see, so it's a closed account.

Give the normal contact center a call and they can pop you through to the closed debt department.

Helena

Time_to_face_the_music

Hi Timetogetfree and welcome :hello:

Well done on taking the first steps in your debt free journey, you will find advice, help and support all the way here, so please stick around :T

People say a full SOA is a good place to start:

http://www.stoozing.com/msoc/soacalc.php

Format it for MSE, remove the links and copy and paste.

Most people here will tell you a consolidation loan is not a good move. So many seem to get the loan, pay off the existing credit and then run it up again

Are you planning on doing this on your own or going through a debt management plan? If the latter, please use one of the free services like CCCS or Payplan. Read this thread for more information:

https://forums.moneysavingexpert.com/discussion/2077631

Good luck and please keep us updated

YoungBaker

First thing I notice is a lot of your debts are made up of small amounts to a large number of lenders... This could be good in motivating you to get control as you will easily be able to cross one debt off at a time and whilst some people may owe a large chunk to a couple of companies, you have the motivation of knowing you can potentially wipe a few different debts off per month.

Definitely fill out a SOA using this link - http://www.stoozing.com/msoc/soacalc.php

Try and be as honest as you can on it and list what, as of now, you expect to budget for each thing per month. This will work out what you should have left each month for debt repayments. You will also need a hold of the different interest rates for your debts, so we can work out which are best to pay off first.

I would also suggest as you have so many debts you would benefit from 'snowballing' your debts - which will work out which ones are best to pay off first and in which order to get you debt free quicker.

Finally, although you do have a lot of debt, in comparison to a lot of people on here it is not the most astronomical amount at all. It's brilliant you've finally decided to man up and sort it out once and for all. With your salary I dont think your debt free day will be so far off in the distant but we can figure that out from your SOA. Good luck and it really will be worth it.

DS4215

Are you actually making payments to all of these debts every month, some of them or none of them? - You might be able to offer a full & final settlement to any of the debts that you are not currently paying. This will save you some money on the repayments and allow you to cross it off your list.

Timetogetfree

DS4215 wrote: »

Are you actually making payments to all of these debts every month, some of them or none of them? - You might be able to offer a full & final settlement to any of the debts that you are not currently paying. This will save you some money on the repayments and allow you to cross it off your list.

No i am only paying a few of them at the minute, at present all the interest apart from 3 are on hold. So i am planning on trying to get a deal off these before moving forward. Once they are paid off i was thinking about making a small token payment to the others each month and then trying to clear 2 off them off over 2 months.

One of the concerns i have about contacting some of them are that they are unaware of my current address and i want to keep it that way as i dont want to get visited off debt collectors etc.

Will work on doing the SOA over the next few days.

Thanks for the help so far.

DS4215

Timetogetfree wrote: »

No i am only paying a few of them at the minute, at present all the interest apart from 3 are on hold. So i am planning on trying to get a deal off these before moving forward. Once they are paid off i was thinking about making a small token payment to the others each month and then trying to clear 2 off them off over 2 months.

One of the concerns i have about contacting some of them are that they are unaware of my current address and i want to keep it that way as i dont want to get visited off debt collectors etc.

Will work on doing the SOA over the next few days.

Thanks for the help so far.

You might want to wait to contact them until you have the money in place to pay them off. If you write to them with an offer they can either take it or enter negotiations and at worst you might end up paying the full amount back (none are particularly large in the grand scheme of things).