SOA - Please be Kind!

flis21

Thanks Briona, and everyone really. I feel much more positive about our debt situation now. I have never really ventured onto this board before, but think I might be a regular from now on!!

Have just finished writing out all the inital letters, has taken ages and will probably cost me a fortune in stamps tomorrow, but a good start!

art_student

hi Flis, I think it's a great idea to pay off those debts - it will make you feel more positive knowing you have taken such decisive action and will reduce the amount of creditors you have.
Go for it!

Sausage_Roll

flis21 wrote: »

Right current plan of action. Pay of these debts at pay day end of this month:

Ace £132.00
Argos £170.57
Next £151.00
Next £145.96
Barclaycard £108.00

Total: £707.53

Might stretch us a little bit next month, but will be good to have some paid off.

Ok, also will write letter to all creditors to check exact amounts outstanding and who owns the debts now.

Then, when all letters received and info double checked, will send out offer letters, including SOA and make offers for repayments.

Well done that's a brilliant start!! Stretching yourself to pay off the debts is definitely a positive start, and cutting down the amount of creditors will no doubt make you feel more positive.
I imagine once these are paid off, you will then have some frustration when the other creditors don't disappear quite as fast. Just keep updating us on this board and we'll keep you going!
:T :T

Mindy_2

flis, go onto https://www.whatsthecost.co.uk and do a Snowball, you put in all your debts plus interest rates (as appropriate), it shows them in interest rate order - not got 0% ones so not sure how it will do that, put in the amount that you can afford to pay each month and it will show a month by month decrease of the debt and how long it will take to pay them all off.

You can update the snowball as and when you get your statements in, and it gives you a date to aim for.

Have to say, I've gone from hating the statements coming in, to cries of joy when they hit the mat as I can update my snowball and my sig on here.

flis21

I have gone onto that snowball site, but I don;t know what the APR's are. As far as I am aware everything is frozen since the IVA failed, so should I put them all in at 0% apr?

Mindy_2

flis21 wrote: »

I have gone onto that snowball site, but I don;t know what the APR's are. As far as I am aware everything is frozen since the IVA failed, so should I put them all in at 0% apr?

Yes, I think so as you can always change the interest rate later if this turns out to be incorrect.

When I set up mine I had real trouble with the apr's as most of our cards give a monthly interest rate, but someone on MSE gave me the formula to calculate the apr, so I had to change them all on the snowball.

mrsplinter

Regarding your contact lenses, I wear the same type as you. You can buy them from specsavers online for £48.50 for 6 pairs (purevision) nearly half the cost of buying them in store. You don't get the aftercare, but if you've had a check up in the past year or so you can purchase without a new check. Unless aftercare exceeds nearly £90 year, you will be better off.