revised SOA

The_fog_has_lifted

Tixy wrote: »

Well of course morals are things that are individual to all of us.

But you won't be paying back the people you borrowed from. You will be paying a debt collector who will be making a profit from the debt collection. Whatever they agree to settle for will be several times more than what they paid for debt.

maybe I should give this a go then, where can I find info about offering f&f settlements, thanks for all your help.

Tixy

https://www.nationaldebtline.org/EW/factsheets/Pages/24%20EW%20Full%20and%20final%20settlement%20offers/Default.aspx

Bublin1

The_fog_has_lifted wrote: »

Thanks Bob, I already have £500 savings that is my emergency fund.

Hi. Are you following Dave Ramsey's method? He insists on a £1000 Emergency
Fund before you tackle debts. I have £1500 in mine, as a single mum with 2 kids I decided to up it. As you have 7 kids you may want to think about how just £500 could help in an emergency.

Just my thoughts

LannieDuck

If hubby doesn't have a job, do you really need the 1 day/wk at nursery?

Also, what does he do during the day (I'm not sure how old your children are - is he looking after them or are they all in school bar one?)? Could he up his income?

Vodafone

Hi The fog has lifted,

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Vodafone UK

The_fog_has_lifted

Bublin1 wrote: »

Hi. Are you following Dave Ramsey's method? He insists on a £1000 Emergency
Fund before you tackle debts. I have £1500 in mine, as a single mum with 2 kids I decided to up it. As you have 7 kids you may want to think about how just £500 could help in an emergency.

Just my thoughts

I didn't realise this, in his book he says $1000 , I thought this was about £500. I need to account for this then. thanks Bublin. x

Bublin1

The_fog_has_lifted wrote: »

I didn't realise this, in his book he says $1000 , I thought this was about £500. I need to account for this then. thanks Bublin. x

I first thought that but a thousand is a thousand. I've read a million blogs and forums and both US and UK residents are raising an initial 1000 in their currency.

getmore4less

So once the council tax arrears are done is there is no council tax going forward?

The SOA should reflect at least the next 12 months.

I would put a top up amount for the emergency fund in the plan, you can always use a bit of the fund to manage the cash flow as a debt gets close to being cleared,

yan101_2

i paid £500 full and final settlement on a £6000 debt with natwest. I had been paying on a debt management plan for 8 years and in that time i paid off £7000 of a 13k loan though. I emailed the managing director of natwest and dealt with his secretary, i was going thoufh a bad time after being injured at work and they were surprisingly helpful. best advice is to be as honest as possible whe doing your income and expendeture, especially on your outgoings, it took me a few ammendments after my first dmp expendeture form because i under estimated grocery costs etc, and was skint as a result. So if you have any receipts from shopping etc use those as a guide. also fuel for work is one i messed up on.

The_fog_has_lifted

yan101 wrote: »

i paid £500 full and final settlement on a £6000 debt with natwest. I had been paying on a debt management plan for 8 years and in that time i paid off £7000 of a 13k loan though. I emailed the managing director of natwest and dealt with his secretary, i was going thoufh a bad time after being injured at work and they were surprisingly helpful. best advice is to be as honest as possible whe doing your income and expendeture, especially on your outgoings, it took me a few ammendments after my first dmp expendeture form because i under estimated grocery costs etc, and was skint as a result. So if you have any receipts from shopping etc use those as a guide. also fuel for work is one i messed up on.

that's amazing.