Its Time!

sdt1986

Right, ive been starting to get out of debt for a while now, but after a little money coming in its time to start taking it even more serious.

Firstly I finally stopped ignoring and counted my debt up.

£12,096
___________

£8715, Loan
£1100, Mom
£1000, Abbey Overdraft
£500, CO-OP
£332, Burtons
£182, Topman
£100, Paypal
£80, 3G
£112, Flatmates

Middle of July I get £2200 in compensation this will go on the following.

£112, Flatmates
£332, Burtons
£182, Topman
£1000, Abbey Overdraft
£400, Mom

So that should help.

tealady

Apart from paying your flat mates are you paying off the debts with the highest APR's 1st? It will save you money in the long run. Put up your SOA (see Southernscousers sticky at the top) and watch the moneysavin ideas roll in.

Tomsck

Have you done the obvious stuff in the meantime? Tell Abbey that your having problems repaying the debt. In this situation a lot of banks agree to freeze the interest on account that have 'gone bad'.

Well done though and good luck.

I've been on your shoes, and have got back to zero. Just gotta be really disciplined, and learn the lesson about things like Topshop cards.

You'll get there.

momisa

Here's my tuppence worth bearing in mind I have no idea what your APR's are.

With regards to your Abbey OD - how much can you have without being charged excessively. Assuming this is your everyday account and you're salary goes in here then essentially you'll be paying it off every month??

Debts
£8715 Loan
£1100 Mom
£1000 Abbey Overdraft
£500 CO-OP
£332 Burtons
£182 Topman
£100 Paypal
£80 3G
£112 Flatmates

Total: £12,121


Pay using £2200
£0 Loan
£550 Mom
£500 Abbey Overdraft
£300 CO-OP
£332 Burtons
£182 Topman
£100 Paypal
£80 3G
£112 Flatmates

Total: £2156 (you'd have £44 for a treat)

Owe
£8715 Loan
£550 Mom
£500 Abbey Overdraft
£200 CO-OP
£0 Burtons
£0 Topman
£0 Paypal
£0 3G
£0 Flatmates

Total: £9965



HTH

sdt1986

The Overdraft has to be paid as they are removing it. Every single debt is at some sort of debt collection service or another so the apr dont matter. They just send me trees through the post on a daily basis instead.

sdt1986

Ive wrote 3 letters this morning (aint i been a busy lad,)

1.Topman telling them that I can offer payment in full as a full and final settlement if they allow me to pay 80%, worth a try if they say no Ill just pay it all.
2. Same as above but for Burtons requested 30% write off.
3. Letter to abbey in response to their without prejudice bank charges letter, I decline the offer however will settle for an extra 75 quid which covers my expenditure. Claim: £531.44, offer: £345.44, So requested full and final of £420.44

sdt1986

Everything other than

£500 Mom
£468 Co-op
£77 3G
Main loan

Are now cleared

Woo hoo,

Seaxwyn

crikey, that is amazing progress in not even a month! Well done you! Did they all accept your offers then?

sdt1986

burtons didnt, and added 90quid cos they decided it was time to take me to court. the day after id sent the offer, so i was absolutely gutted at that.

topman accepted
Paypal, are maybe accepting, she told me to just send the cheque in and email from my registered account which i did, the email came back saying that they couldnt find my details which was confusing but we shall see about that.
Ebay, paid off.
Flatmates all but paid off.
Mom Paid 600

come september when i get student debt start coming in, i will use my student maintanence grant to pay my loan off over the year, the student loan to pay my rent, and then whatever i work for all goes on me :-)