Mrs PG's Hopes & Dreams for a debt free future !

Brogden

grannyx2 wrote: »

Hi Brogden, I offered them 22% on both accounts. They accepted this for the CC debt but wanted slightly more for the Budget account. The girl I spoke to, (I sent a letter, she rang to discuss), was lovely. She said they have a calculator they put the offer into and it comes back with the suggested figure. She was surprised that the higher debt was accepted at the lower rate but the other wanted more. She also said it would change each month and that I could hold off for a bit longer and try again but I decided I wanted rid right now. In the end I paid off around £7,000 with just under £1,500.

I used the template letter from debt free direct and included a personal statement. This included my total household income & expenditure, a list of my debts and the amount I was offering each, which was done on a pro rata'd basis. The only extra I would add if I was to do it again is to say where the money was coming from as that is something she asked. It's always best if the money is coming from someone else, eg family member gift, as if they think it's your savings/credit from elsewhere they are more inclined to decline.

I hope this helps, it not let me know and I will try to answer your queries

Granny x

For the 1st time in years I'm excited to see the postman coming x

Thank you so much.

A few months ago I offered M&S 50% and they accepted. Just before paying them there were some 'work clouds .' I had to call them and say 'thanks but not this time' so we carried on with our monthly payment arrangement. Happily the 'work clouds' blew away but the money had been used - unfortunately it was something that I had to do although the wife was fuming I still had M&S statements and letters coming through the door! Its our most 'emotive' debt this one albeit almost the smallest.

Speak soon and all the best on the DF journey

Brogden

NoOneAround

grannyx2 wrote: »

Fixed & final offer x

Thank you Grannyx2


does that mean to pay off in one lump sum to settle or over an agreed period eg by DMP?:o

satchmo1

Mrs PG, I'd suggest putting the clocks forward by 7-8 minutes to get her out of the house on time. They'd notice 10 minutes, but unlikely to notice less :-)


I used to have a terrible time getting DS1 out of bed - I once picked him up and put him in the shower still in his PJs... couldn't do that once he grew taller than me. DS2 was always ready on time, still is.

NoOneAround

NoOneAround wrote: »

Thank you Grannyx2


does that mean to pay off in one lump sum to settle or over an agreed period eg by DMP?:o

Apologies if answered earlier.....
we have yet to organise formal DMP, so not very far down the line, have been paying token payments with frozen interest.

grannyx2

Hi Noonearound

It's usually paid in a lump, that's what I did, although you could offer it to them over a short space of time. Make sure to say it's not your money though as they will just up your usual payments. They write off the rest of the debt, agree to never pursue you for it or sell it on and mark your credit file as partially settled x

PinotGrigio41

grannyx2 wrote: »

No need I will tell you here, it was M&5, both credit and budget accounts. They are part of the H5BC group who I also have debt with so I have high hopes for that too.

Hope DD got out on time. My DD was exactly the same X

I was hoping you would say that Granny. The one I was thinking of trying to settle first was M&S. Best I build that F&F account back up again and fast I think !

Fingers crossed for H5BC xx:D

PinotGrigio41

Brogden wrote: »

I did follow your previous thread and I'm back following this one now. I didn't think it was fair to just lurk and thought I should let you know how human, heartening and uplifting your messages are.....(or just how funny you are :rotfl:) So resilient working through the odd challenges which life has to throw at us.........

Thanks for doing this and I hope you all have a great day.

That's a real cool piccie of the PG by the way!

Brogden

Hey Brogden,

Lovely to meet you !! Yes I love the PG Piccie also, very yummy !

It lovely to know that my posts are human as I often feel like a robot, going through the motions and as I often say with a very very fuzzy head. I often don't feel int he real world at all ! :rotfl:

Please don't go back to lurkdom, it great to see you . Good luck with any F&Fs you offer and please let us know how you get on.

Best of luck with everything xxx

PinotGrigio41

grannyx2 wrote: »

Hi Brogden, I offered them 22% on both accounts. They accepted this for the CC debt but wanted slightly more for the Budget account. The girl I spoke to, (I sent a letter, she rang to discuss), was lovely. She said they have a calculator they put the offer into and it comes back with the suggested figure. She was surprised that the higher debt was accepted at the lower rate but the other wanted more. She also said it would change each month and that I could hold off for a bit longer and try again but I decided I wanted rid right now. In the end I paid off around £7,000 with just under £1,500.

I used the template letter from debt free direct and included a personal statement. This included my total household income & expenditure, a list of my debts and the amount I was offering each, which was done on a pro rata'd basis. The only extra I would add if I was to do it again is to say where the money was coming from as that is something she asked. It's always best if the money is coming from someone else, eg family member gift, as if they think it's your savings/credit from elsewhere they are more inclined to decline.

I hope this helps, it not let me know and I will try to answer your queries

Granny x

For the 1st time in years I'm excited to see the postman coming x

Just to reiterate what Granny said really, shes is now the F&F expert after all !!

I was advised when we first entered our DMP to go in at 15%. It was a suggested starting figure to me. Also, as Granny has mentioned , never ever let on that the money is yours and that you have saved it up. The money has been loaned to you by a relative for the sole and only purpose of clearing your debt. If this is not accepted you will not have access to the money. ie it wont be going in a savings pot to then make any addition monthly payments. It is a lump sum solely for the clearance of a debt and nothing more.

The templates are great, I always find that its best to change them a little ,make them a little more human and personal to your situation.

This generally works a treat in most instances but I am yet to try for F&F's xx

PinotGrigio41

satchmo1 wrote: »

Mrs PG, I'd suggest putting the clocks forward by 7-8 minutes to get her out of the house on time. They'd notice 10 minutes, but unlikely to notice less :-)


I used to have a terrible time getting DS1 out of bed - I once picked him up and put him in the shower still in his PJs... couldn't do that once he grew taller than me. DS2 was always ready on time, still is.

Isnt it funny how different siblings can be ? I did actually change the clock this morning while she was in the shower but it didn't make the blind bit of difference. In her world if she makes the bus then she is on time. In my world if you leave the house late and catch the bus by the skin of your teeth and aren't properly dressed , then you aren't on time !

Roll on half term !! :rotfl:

PinotGrigio41

NoOneAround wrote: »

Thank you Grannyx2


does that mean to pay off in one lump sum to settle or over an agreed period eg by DMP?:o

Granny has answered this one, thanks Granny.

I would suggest you get the DMP up and running for a while before you even think about F&Fs and give yourself some breathing space.

Please try and get an small emergency fund behind you as well, if possible make some token £1 payments for a while and stash a little away for a rainy day. Apologies if you have already been told to do this. Just something that sprang to mind as I was typing xxx