Off on our adventure....Jan 2015

System

Just a quick post while eating breakfast. Off for a quick squizz round the charity shops in a bit and then hairdressers, followed by work this afternoon 1pm-5pm...nice bit of over time and already allocated the funds to various saving pots...:rotfl:

Hoping to see the debt figure reducing a bit more soon, now that we have gone SM'd, and hoping to see the EF figure increasing. Slow and Steady wins the race. We will get there in the end.

Have a good day everyone.:)

enthusiasticsaver

I would think it might make you feel more in control by going SM. I think you did the right thing re the NewDay account. Defaulting for such a small amount is not worth it. You may have better luck on F and Fs for larger debts.

I love spreadsheets too and have tracked income and expenditure for years. I also had one for projected pension income and mortgage overpayments which was invaluable.

System

enthusiasticsaver wrote: »

I would think it might make you feel more in control by going SM. I think you did the right thing re the NewDay account. Defaulting for such a small amount is not worth it. You may have better luck on F and Fs for larger debts.

I love spreadsheets too and have tracked income and expenditure for years. I also had one for projected pension income and mortgage overpayments which was invaluable.

Ooh I would love to be over paying on the mortgage...don't think that will happen yet though. Although I did read about someone, can't remember who it was now, who was over paying mortgage, rather than offering F&F's at the moment. I suppose there are pros and cons to both ways.

enthusiasticsaver

ploppy57 wrote: »

Ooh I would love to be over paying on the mortgage...don't think that will happen yet though. Although I did read about someone, can't remember who it was now, who was over paying mortgage, rather than offering F&F's at the moment. I suppose there are pros and cons to both ways.

It may be historybuff although I know she does both? If you are approaching retirement and do not intend taking out any new debt it makes sense to do that although I know some people have difficulty doing that. Personally I wouldn't want to go into retirement with a mortgage. Once your income drops you send the reduced i and E to debtors who see there is no spare income for debt (unless you have a large pension) and the debts are defaulted and written off.

Your mortgage is small I know but if you are close to retirement it may be worth focusing on that and if debt is not paid off by 5e time you retire you default. From the sounds of it you are not there yet though.

System

enthusiasticsaver wrote: »

It may be historybuff although I know she does both? If you are approaching retirement and do not intend taking out any new debt it makes sense to do that although I know some people have difficulty doing that. Personally I wouldn't want to go into retirement with a mortgage. Once your income drops you send the reduced i and E to debtors who see there is no spare income for debt (unless you have a large pension) and the debts are defaulted and written off.

Your mortgage is small I know but if you are close to retirement it may be worth focusing on that and if debt is not paid off by 5e time you retire you default. From the sounds of it you are not there yet though.

No, we definitely won't be wanting to take out any more debt...:eek:. I am 60, so get state pension at 66 and have a small private pension that I can actually take now if I choose. Was thinking of looking into it actually and see if its best to take now or wait. OH is a lot younger than me...by 12 years, so he will still be working when I retire....(although to be honest, I do not want to retire and would hope to still work part time. I only work part time now, but hopefully slightly less hours by then). Mortgage is not due to finish until I am 68, so would be nice to get it paid off earlier if possible then maybe OH wouldn't have to work till he is 67 or 68....as the current state pension says he will!!!

Our debts, all except the N*day one are already defaulted. I would like to think that with F&F's etc we could get DF before the mortgage finishes, that is the plan anyway. But didn't realise that writing off the debts was even an option once retired.

System

Come to the conclusion that W/c*t are stupid .....we wrote and told them we were going SM. They wrote back and said they accepted our token offers for 6 months and they would review our situation after that to make sure we could afford repayments. Now today we get letters saying they have just discovered that SC are no longer representing us and we must contact them immediately to agree a way forward! This really is a case of one department not telling the other what is going on....they are so stupid. There was a time I would have panicked at this, but not any more.

jwil

One of my creditors did that, possibly the same one! I sent them a copy of their acceptance letter and they did apologise.

I make small overpayments to my mortgage. I really want it gone. If your budget allows, just add a few £ to your mortgage figure on your I&E so you have a bit in the 'pot' for overpayments.

System

Excited today...have written an F&F letter to PR*.....They replied to one of our CCA requests, saying they are unable to supply the documents so at the moment the debt is UE. They stated that we still owe the money and they are still allowed to contact us etc etc and that it will now be passed to their collections department and will let us know if they find the documents in the future. This is only a very low debt of only just over £290 so I doubt they will want to spend money on admin etc to chase it so we are offering an F&F of £30. I think just over 10% sounds like a fair offer, so we will keep our fingers crossed. We have 2 other debts with them as well, so hoping they come back UE as well.
In other news, looking forward to the weekend as feeling very tired this week. Work with dementia sufferers and sometimes things happen that make me just feel like I wish I could do so much more and have come home feeling quite drained today. Tomorrow is my other job, so a bit of something different ( retail), but not much job satisfaction.
Hope everyone is OK.

jwil

Good luck I managed to settle an UE debt with them for around 30%. They wouldn't go any lower I probably should have held out for longer, but it was nice to see the back of it!

System

jwil wrote: »

Good luck I managed to settle an UE debt with them for around 30%. They wouldn't go any lower I probably should have held out for longer, but it was nice to see the back of it!

We'll wait and see what they say. If they reject the offer we will carry on not paying anything and see how long it takes them to come back to us. The other 2 debts we have with them total about £1500 so hoping they come back UE as well. They have already put the accounts on hold after we requested CCA so if they don't accept the offer they will get nothing...