Mr and Mrs K's New Journey to a Debt Free Life.

cottage_retreatist

7roland8 wrote: »

Don't know much about F&f settlements myself but isn't it a bit hypocritical to be asking to pay off a reduced amount of debt when you are sitting in a house full of stuff that you could sell to fund the debt - its a bit different for others who have nothing to go towards payments.

I think by the time the debt has gone to a DCA they've bought it for a couple of pence in the pound's worth of the original debt so paying it back in full you allowing these b*stards to profit from financial hardships.

All the hassle my man is getting from Motormile Finance at the moment - bunch of barrow boys - I'd rather give them a punch in the face than any of my valued income!!!!!! :rotfl:

Alex - I can't justify the 'stuff that you can sell' aspect of what 7roland8 says!! You know my opinions on that!!!

tallyhoh

AlexLK wrote: »

I am aware that what I have said may come across as being "snobbish". However, very close to the nursery (and to the others locally) is a rather rough council estate or "housing association": a lot of the children's parents are single mothers in their (early) twenties without a husband or a stable job. Many of them have a couple of children by different fathers

Oh dear Alex, you can sound a wee bit silly sometimes. Stop desperately trying to cling to your past privileged life, its gone!

I work in a homeless project, the people there have many problems: mental health issues, alcohol issues, money problems, family problems - is anything of this sounding familiar?

The only difference between us & them is that we perhaps sleep in our own beds at night & have clean clothes.

Sorry to sound so harsh but perhaps if you stopped trying to elevate yourself above others it may help.

You would then stop thinking you were special & entitled to £145 shirts & it would at least ease some of your money problems.;)

Good Luck!

(or at least if you are ever in the Midlands & have old shirts to get rid of we sure could use them)

AlexLK

kissjenn: I don't even like turkey, always end up with it for Christmas dinner though!

C-R: You've said it better than I.

tallyhoh: Thank you for your post and yes, I have gone through similar problems . I am not and have never been an alcoholic though as you know I've had the rest.

LannieDuck

cottage_retreatist wrote: »

I think by the time the debt has gone to a DCA they've bought it for a couple of pence in the pound's worth of the original debt so paying it back in full you allowing these b*stards to profit from financial hardships.

But I don't think Alex's has gone to DCAs yet because he's been making his payments. So it's still with the original creditors... who he does owe the money too.

Although I fully agree with Alex's ambition to become debt-free quickly, I do have some support for Roland's comment... Yes the banks make a lot of money, but I don't think that means you should take money from them and only pay back part of it unless you really have no choice.

AlexLK

Two are with collection agencies and two are with the original creditors, prior to coming on here I hadn't paid anything towards the credit cards in a long time. The other debt is a £15,000 bank loan which I have kept up payments with and now owe £4,800. Unless we are counting the mortgage, which feels so impossible to clear early that I'd rather pretend it doesn't exist.

cottage_retreatist

LannieDuck wrote: »

But I don't think Alex's has gone to DCAs yet because he's been making his payments. So it's still with the original creditors... who he does owe the money too.

Although I fully agree with Alex's ambition to become debt-free quickly, I do have some support for Roland's comment... Yes the banks make a lot of money, but I don't think that means you should take money from them and only pay back part of it unless you really have no choice.

Oh Alex - is this true? You'll be lucky to get the interest off if it's with the original creditors!!!

Now I don't know - but I'm only going F&F on defaults which I haven't contacted them about since 2011 cause I've been too scared to - what position are you in with the debts you want to F&F with? Are u still doing regular payments to them?

AlexLK

C-R: see above. However, I'm going to try it with the original creditors but at 50% because of the amount of interest they've added on. I'm not sure how I have another choice in all honesty?

cottage_retreatist

AlexLK wrote: »

Two are with collection agencies and two are with the original creditors, prior to coming on here I hadn't paid anything towards the credit cards in a long time. The other debt is a £15,000 bank loan which I have kept up payments with and now owe £4,800. Unless we are counting the mortgage, which feels so impossible to clear early that I'd rather pretend it doesn't exist.

Sorry - cross posted with you Alex!

Well - the collection agencies ones you are golden to try for F&F - but how long have you not been corresponding with them? It all depends on how desperate they are to get something out of you how low they 'might' be willing to go down.

the original creditors credit card - I'm just about to try a F&F on in the hopes of agreeing something by November/December time so if you manage anything do let us know your tricks and tips!! It had gone to DCA but I ignored it so it went back to the bank!!!! :eek:

LannieDuck

Ahh sorry, didn't realise two were with collectors.

LannieDuck

AlexLK wrote: »

C-R: see above. However, I'm going to try it with the original creditors but at 50% because of the amount of interest they've added on. I'm not sure how I have another choice in all honesty?

By all means try, but I think you have plenty of choices at the moment. You've raised 13% of your total debt amount in 2 weeks, and you still have lots of things to sell if you so chose.