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SubPop

Morning all,

I've been lurking on this site for about nine months and picking off some very useful tips so thanks!

I had my lightbulb moment about four years ago after many years of wasting money and not taking it seriously.

I was about 18,000 (all unsecured) in debt back then with two CCJ's. :eek: :eek: :eek:

Yesterday I took my bonus and cleared my student loan !!! :j :j :j Three years ago I'd have gone on a week of getting wasted :rotfl:

The student loan I just ignored so I got a CCJ, I'm now waiting for the letter so I can get that written off and I'll be CCJ free

I am now 5,500 in debt :j :j :j :j :j :j

I owe MBNA credit cards just under a grand

I owe natwest (old account 8 years ago) about 4,400 (originally 9 grand) which has been passed on to a DCA which they have told me they will settle for half that amount, I have been paying this off at 80 quid a month on this for about four years. Can I ask this DCA for a copy of the original credit agreement even though I have been paying it for a fair bit? Any advice on how to get a better write off figure (I'm thinking of when my bank charges come through)

Things I am doing to pay off this debt :

MBNA and my current bank (Coop) have been sent SAR's requesting all charges and the first step to claiming back (looking through old statements I have about 2500 at least coming back to me re this)

I have discovered the old address I used to have the Natwest account with and will be sending them an SAR with a view to claiming back charges that are over six years old (Has this been done by anyone on here? What is the longest you have had your charges back from gnatwest, Also if Natwest say they can't find my details does that have any bearing on the DCA that is collecting what I owe to them?)

The 90 quid from the student is snowballing on to the MBNA account, MBNA owe me in charges more than my balance (without intrest!) but I think it's best to get the amount down as much as possible while they procrastinate so I have can have a nice cheque from them . Once that is paid off in (assuming that I don't get the charges back that means August at the latest) I will snowball the 200 quid to the old Natwest account (which will mean I'll be paying off 300 quid a month, or should I place the money into a savings account with a view to being able to build up a settlement amount?

Once again thanks for the advice I've been gleaning from this forum!

GirlRacer_2

Good morning SubPop and congratulations on taking the plunge and posting. You've made a tremendous effort to reduce your debt, sorry I'm not much use at the advice thing, but someone will be along to help you out.

Just wanted to say hello and welcome.

smashedbooboo

Yes you can request you CCA from the DEBT collection agencies. And if you have a look on https://www.consumeractiongroup.com you will see that a few people on there have managed to claim back beyond six years. There is a thread on there specifically for this. Its in the bank action forum. Makes interesting reading.

SubPop

smashedbooboo wrote: »

Yes you can request you CCA from the DEBT collection agencies. And if you have a look on https://www.consumeractiongroup.com you will see that a few people on there have managed to claim back beyond six years. There is a thread on there specifically for this. Its in the bank action forum. Makes interesting reading.

Is there anywhere I can get details (e.g. an template) for the CCA that anyone can be point me to pls?

cheers

SubPop

Shineyhappy

Just wanted to say hi and welcome to the boards!

There is certainly a lot of information to be accessed on here.

Good luck sorting everything out.

SubPop

SubPop wrote: »

The 90 quid from the student is snowballing on to the MBNA account, MBNA owe me in charges more than my balance (without intrest!) but I think it's best to get the amount down as much as possible while they procrastinate so I have can have a nice cheque from them . Once that is paid off in (assuming that I don't get the charges back that means August at the latest) I will snowball the 200 quid to the old Natwest account (which will mean I'll be paying off 300 quid a month, or should I place the money into a savings account with a view to being able to build up a settlement amount?

I've been doing some DFD projections (good old MSExcel!) :

I have been paying off my debts at around 300 quid a month, so have worked out these dates assuming i carry on that rate (though in reality it will probably be slightly more)

• Continue paying debts at current levels : DFD 05/12/2010 :eek: :eek: :eek:
• Snowballing debts : DFD 06/12/2008 :rolleyes:
• Snowballing into Savings + using savings as settlement : DFD 06/09/2008
• Snowballing into Savings + repayment of penalty charges (conservative figure of £1800) into savings + using savings as settlement : DFD 06/12/2007 :j

I like the idea of Snowballing up savings and using that amount to get a full and final settlement of the old Natwest account, it allows me to skim any extra money I save into that account. The penalty charges should be about three grand (i've used 1800 above as that is what I can prove at this moment (as I'm still awaiting full list of charges)) so that would also move the DFD closer.

I think I have a new challenge..... I am aiming to be debt free by the end of this year

SubPop

Got a letter from the student loans company saying I have cleared my loan!!!!!!!!! :j :j :j :j :j :j

I have to send a cheque for 15 quid to the court who will change the judgement to settled and inform the relavent people so I will be CCJ free.

:T :T :T :T :T

all great but I don't have a cheque book! (my account is now managed) so I have some questions I'd like some help with

(i) Can I send a PO to the court? <edit> Just phoned them up and they say that's fine <>
(ii) How long should I expect for the settlement to filter down to experian et all? (am currently monitoring experian credit file) <edit> About three to four weeks<>
(iii) Will having a settled CCJ affect my chances of getting a new non-basic bank account (i.e. chq book, proper cash card etc)? My credit score is currently fair (800/1000) with a ccj which should hopefully improve once the CCJ has been settled (I am right in that assumption yeah? ) <edit> Still stuck on this one, can someone advise please <>

thanks in advance for any and all help

SubPop