January 2015 is the beginning

January2015

MBNA sent me the documentation for the CCA request today. It looked absolutely enforceable to me - DHs signature, address, everything looked fine. I thought that was that, but it was worth trying.

Then Fermi directed me to another forum site - All About Debt (AAD) - and I asked for opinions over there. Within a couple of hours I had uploaded copies (redacted personal details) and sent an un-redacted copy to the web administrator (it was requested), they sent it to their solicitor and I'm now informed it looks to be unenforceable.

A day of lows and highs then. So now I sit back and wait for any correspondence chasing the debt and then go back to AAD for guidance on the way forward. It's nice to know they have solicitors who can help me if the need arises.

Life still good in the January household :j

January2015

Busy day on the debt busting front. I've decided to send Subject Access Request (SAR) to NRAM and Direct Line.

We've had 3 loans of £25k each over the years - one consolidated the next and so on We finally paid off the NRAM loan in full - finished the full 7 year term without consolidating.

Anyway - I honestly don't think we ever had PPI included in the loans but apparently sometimes predators sneaked it in. So I decided that for £10 per request (so £20 in total) it was worthing asking the question. The worst that can happen is I waste £20 and the best that can happen is we discover there was PPI and we claim a refund.

Another waiting game then. I have to admit I am starting to feel somewhat empowered with knowledge/information regarding our debts. So different to last year. Then our debt total was an embarassing, dreaded mountain to climb. Now it is a challenge to beat it down through paying it and using any legal means possible to reduce the total owed to each predator.

January2015

Forms sent back re. the pension payout.

I've been obsessed with playing with my spreadsheet forecasting the possible date we could be debt free. Lots of if's, but

• IF MBNA is unenforceable, and
• IF we managed to negotiate settlements averaging 60% for the £20k from pension payout and savings, and
• IF we focus (but still live a little ) we could be debt free by December 2017

That forecast includes settling some debts with the £20k soonish, then continuing DMP payments for a while and then offering the next round of F&Fs, then another year of DMP payments and a final round of F&Fs. I've worked on 60% for F&Fs and anything better is a bonus and brings DFD forward a bit.


I'm not changing DFD in my signature until something actually happens that means it's definitely changed - at the moment this is still pipe dream land:rotfl:

January2015

First F&F sent off today. It's one of our smaller debts but it's a start.

Watch this space to see if they accept

January2015

You know you are getting a bit obsessed when you are disappointed the postman doesn't bring any letters from predators

Scottishmummy

January it's been a few months since I last caught up with your diary but all caught up now and boy am I impressed. I definitely need to get this DMP swapped to self-managed and then get started with the cca requests. Did you give your predators a reason for the token payments or did you just tell them " you will be getting £1 each for Feb and March then you will get £??? Until the next review. "

January2015

Scottishmummy wrote: »

January it's been a few months since I last caught up with your diary but all caught up now and boy am I impressed. I definitely need to get this DMP swapped to self-managed and then get started with the cca requests. Did you give your predators a reason for the token payments or did you just tell them " you will be getting £1 each for Feb and March then you will get £??? Until the next review. "

I just told them - I said something along the lines of .....[FONT=&quot]
[/FONT]

[FONT=&quot]We intend to make token payments of £1.00 per month for February and March 2016, and subsequently payments of £........

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[FONT=&quot][/FONT]It has recovered our much needed emergency fund, but also has given us a head start on the F&F fund. We dropped the payments to everybody (except one who went up slightly but that was because NEDCAB's formula came out differently to SCs).

I was going to 'offer' £1 per month, but decided I didn't want to give them an option to say no, so I just told them.
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January2015

Letter received from BC today advising us they cannot accept £1 per month as our I&E clearly evidences we can afford more. Will keep paying £1 per month until they default us or pass it to a DCA.

Otherwise no news in the January household.

January2015

Hello Diary

Well DHs pension boat came in at a smidgen under £20k :j:j:j

Some serious F&F offer letters being prepared now.

I dug out my pension paperwork from a job I had in the early 90s. Again this was a pension I was in for a couple of years at the most and I can access this from Autumn. Contacted the pension provider and the pot is about £8k so I should get a lump of about £5.6k after tax. I'm hopeful we could clear another £10 - 12k when that boat comes in.

So, our goal for 2016 is to clear about £60k of our debt between DMP payments, F&Fs from pensions and some more from scrimping and saving.

That light at the end of our tunnel is getting brighter:T

January2015

I'm feeling strangely 'flat' today Healthy £20k+ balance in the savings account. F&F letters typed, but not yet sent (manic family weekend meant I didn't have time to sort this, but they will go later today).

Funny day - can't really explain how I feel.