Valencia's SOA - I need help pls!

TTMCMschine

Valencia wrote: »

wow! okay, its gone.

What's my next step? Currently doing this snowball thing, will let you know the results.

Well done! Now you can start making some headway. Seriously, consider donating your time instead, it's much more useful.

hypno06

Hi Valencia, just catching up on posts, and I see you have made some big changes since I last read on Saturday.

I am sure that you can get the balance right here - working, perhaps charitable work to replace the tithe, and repaying your debts.

I understand what you say about not wanting to trash your credit rating through using a DMP etc, and I am in the same boat, but I have spoken to both CCCS and Payplan over the months, just to talk to them. They have never been judgemental or tried to get me to do something that I didn't want to do, but they have been a good "ear" on occasion and sometimes that is something we need.

With a decent second income, you can make a real difference, also look at the "ways of maximising income" sticky at the top of this board for survey sites, mystery shopping etc - not much but all helps. Clicking on pigsback.com for example could earn you vouchers to give as christmas presents or to sell on ebay for close to face value.

Also, stick with the snowball principle, pay off highest rates first. Even if you can only shove an extra £10 at the debt, this makes a good difference in the interest you will save. The start Debt Free Date (DFD) of 6.5 years is just a starting point, and if you are motivated and determined, then this will reduce very quickly.

Finally, in this longer than expected post, please keep posting. The support that these boards provide is invaluable - there is a great community here and for those of us in it for the long haul, there is a place here to laugh, cry, get angry and frustrated etc etc. Also, by posting here, you will help other new people in debt, and you can count that element of it as part of your "charitable work" in a way. (hope that doesn't sound patronising, at all, - it truly is not meant to be in any way).

Good luck, and hope to hear from you again soon x

Valencia

hypno06 wrote: »

Hi Valencia, just catching up on posts, and I see you have made some big changes since I last read on Saturday.

I am sure that you can get the balance right here - working, perhaps charitable work to replace the tithe, and repaying your debts.

I understand what you say about not wanting to trash your credit rating through using a DMP etc, and I am in the same boat, but I have spoken to both CCCS and Payplan over the months, just to talk to them. They have never been judgemental or tried to get me to do something that I didn't want to do, but they have been a good "ear" on occasion and sometimes that is something we need.

With a decent second income, you can make a real difference, also look at the "ways of maximising income" sticky at the top of this board for survey sites, mystery shopping etc - not much but all helps. Clicking on pigsback.com for example could earn you vouchers to give as christmas presents or to sell on ebay for close to face value.

Also, stick with the snowball principle, pay off highest rates first. Even if you can only shove an extra £10 at the debt, this makes a good difference in the interest you will save. The start Debt Free Date (DFD) of 6.5 years is just a starting point, and if you are motivated and determined, then this will reduce very quickly.

Finally, in this longer than expected post, please keep posting. The support that these boards provide is invaluable - there is a great community here and for those of us in it for the long haul, there is a place here to laugh, cry, get angry and frustrated etc etc. Also, by posting here, you will help other new people in debt, and you can count that element of it as part of your "charitable work" in a way. (hope that doesn't sound patronising, at all, - it truly is not meant to be in any way).

Good luck, and hope to hear from you again soon x

Hi everyone!

Just an update on today. Rang up about my shareshave and they told me to go to a local Halifax and I would be able to cash it in, which I did. All together I got back £375! So I'm going to go to dorothy perkins and pay the card off £284- yay! One down, which is my most expensive APR.

Monetary wise today, all I have spent today is on parking which I will get back through work. Brought my lunch from home, which was nice and filling and cost me nothing.

Went to get quotes about repairing the dents and scratches on car before I sell and I got 3 quotes, £325, £250, and £150 - amazing! Considering that the majority of damage was done by my BIL, he will be paying most of the bill and I will contribute the rest. Will get car valeted and then start driving round with 'For Sale' on as well as list on Auto Trader.

I've been looking on the CCCS website and will look at PayPlan later tonight. They have lots of good advice and I will defintely give them a call Hypno06, more impartial will be good.

Put my phone on ebay last night and I have had two offers to end the bidding early at roughly the price I wanted to get, so that will be another £180-£200 in.

I spoke to a mate today about local car boot sales and she has getting me details of one. Have a load of clutter and junk I can get rid of, that I can't be bothered to put on ebay.

All in all, today has been better, and I'm starting to make progress with things. All this month's DD/SO's have been paid, I arrange for them to be paid, the day after pay day. My mobile phone bill is '£0' this month as when , when I took the contract out they took a £100 3 month retainer which comes off this month, so that's the next 2.5 month bills paid.

Will keep you posted.

p.s. also cancelled phone insurance.

art_student

Sounds like you've made a great start! Keep up the good work!
Maybe post up a reworked SOA so you can see more clearly where you stand financially with all these changes.
x

Eager_Elephant

Hi Valencia

Glad to see you are making inroads into your debt situation.

I am just a bit concerned about the car, if it is on Hp (which I think you said it was) then legally it is not yours to sell.

You would need to contact the Hp company and get written permission to be able to sell it and then whoever buys it will be expected to pay the Hp company direct before they are allowed to take the car.

I have heard of one guy on another forum who was selling his car for a lot more than the Hp outstanding. The person who bought it sent a bankers draft to the Hp company and the remainder was paid to the owner by cheque.

It sounds quite complicated and I am not sure how many people would like that hassle.

If however you took out a loan to buy a car then ignore the above and good luck.

EE

Valencia

Eager_Elephant wrote: »

Hi Valencia

Glad to see you are making inroads into your debt situation.

I am just a bit concerned about the car, if it is on Hp (which I think you said it was) then legally it is not yours to sell.

You would need to contact the Hp company and get written permission to be able to sell it and then whoever buys it will be expected to pay the Hp company direct before they are allowed to take the car.

I have heard of one guy on another forum who was selling his car for a lot more than the Hp outstanding. The person who bought it sent a bankers draft to the Hp company and the remainder was paid to the owner by cheque.

It sounds quite complicated and I am not sure how many people would like that hassle.

If however you took out a loan to buy a car then ignore the above and good luck.

EE

It is HP. I didn't know that at all, so thanks for that. Will contact them tomorrow.

slowlyfading

Sounds like you've been doing loads, keep up the enthusiasm x

kari59

I do respect that your donations to church and other charities are important to you, but if your keeping yourself in debt to do this you should stop for the time being. Instead of giving money perhaps you could give your time by doing something for the church or working in a charity shop.

Valencia

kari59 wrote: »

I do respect that your donations to church and other charities are important to you, but if your keeping yourself in debt to do this you should stop for the time being. Instead of giving money perhaps you could give your time by doing something for the church or working in a charity shop.

Hi

I'm not donating money anymore. I've cancelled all my donations. I have also cancelled my gym membership now, my £26 a month into the car fund.

Just on my way to work now, but tonight I will give a full update.

Spirit_2

Well done for putting down your SOA . I understand that it is easier to cut the painless things (eg bills) and to reduce your own treats (eg hair) but psychologically a very big step to stop something that you believe others are relying on. I have similar outgoings in my SOA. The advice I have had from the DFW board has been sympathetic but realistic ......take baby steps.

Cutting support for my daughter at University was a no go area when I first saw it as I did not want her to get into debt. Only 3 weeks in to being a DFW and I have come to terms with what we need to do and am making changes to what we currently spend on supporting others.

I have realised that I have supported others whilst I thought I could afford to and will do so again when I really can afford it. Keep posting, it really does help to come to terms with changing some of those things we are emotionally tied in to.