Step by step

Notepad

EE, you're a star - thank you!

Am off to bed now with the dreaded lurgy, but I'll revise the SOA tomorrow with the figures you've suggested.

Thanks again.

Steerpike88

You're doing real well, you seem really on top of things. I'm sure you'll think of ways to suit your needs best, everyone's situation is different.

lubava

Hi Notepad, you mentioned you have skin allergies and use a lot of water -might be worth checking your water company website as they might offer discount. Im with southeaster and they do. Other wise good luck and I will be subscribing.

Eager_Elephant

I did a quick check on Anglian Water website last night (think Mrs N will be with them) and you can only go on Watersure if you are in receipt of certain benefits and have a medical condition.


If you are not on benefits they assume you can afford your water usage.

Notepad

Morning Diary,

Haven't abandoned things here, just not very well and posting from my bed

Thanks for suggestion re water company - EE is correct in that you have to be claiming certain benefits to be eligible, which we're not. Our water company is SSE but we're looking into whether we can switch to AW. Our house is a new build and we've had to build up six months' worth of usage in order to be able to gauge accurately what our bills will be before shopping around.

I haven't yet found a template for writing to the banks regarding the o.drafts. Does anyone know of a link to usable templates for this?

I'll be back later to see how you're all doing. :T

Eager_Elephant

Oh no Mrs N - hope you feel better soon.


The National debtline templates are good https://www.nationaldebtline.org/EW/sampleletters/Pages/default.aspx


Are you doing pro-rata offers or token offers as that will determine which letter you send?


Or Stepchange have a debt remedy tool on their website that will so all the pro-rata stuff for you and they email a booklet with template letters in.


The letter to the banks re the overdrafts are the same as all other debts - you don't need anything different in the letters.


if you need help with the figures you are offering to each creditor give us a shout.

Notepad

Thank you EE, didn't think of looking at either of those websites. The brain cells aren't fully functioning today!

DH is really struggling with the concept of notifying the banks about our financial difficulties as he's worried about the ruined credit rating. I'm trying to explain to him that we have no choice but to do so, but it's not proving easy.

I don't know whether to offer pro rata or token payments - I'll look into this first before deciding.

I may well need further guidance EE. I want to make sure what I'm doing is the best move for our situation!

Thanks again

Eager_Elephant

When you rung Stepchange what did they recommend?

It is always difficult to know what to do re credit rating.

If you can't afford the repayments what option do you really have? It will be difficult in the future to re-mortgage but not impossible - what sort of mortgage do you have?

Token payments are for when you have about £20 per month left after all bills/expenses hence the creditors get either £1 or £5 per month (depending on what you have left) and pro-rata is really for where you have more than about £100 per month available and you then spread that pro-rata to who you owe so the highest balances get the most money.

Notepad

I fully agree with you EE - we have no choice, this is the only way to deal with our debt. I'll sit down and talk it through with DH to show him this.

StepChange recommended pro rata payments, I've just looked back through the paperwork they sent us. I'll offer the amounts they recommended when composing the letters. Really not with it today, sorry.

Our mortgage is fixed rate for 3 years (2017).

Have reviewed our weekly grocery shop and we spend, on average, £70 per week on food. Need to look at reducing this if possible. We already buy economy or own brand and meal plan, taking advantage of offers when applicable. We shop at M0rris0ns as our nearest store, the next closest being Waitrose!

Notepad

Ooh, just noticed my 'newbie' notice has gone! :rotfl:

I'm on the long road to star accumulation :T