Ready, steady… save!
You don’t need a chart to join in. Here are 2 ways to record your savings:
1. Cross it off
Pop a chart into your first post. Saved an amount? Cross it out! Read more »
£0.01 £0.02 £0.03
2. Write it down
Skip the chart and add updates to your first post. Read more »
“Another +£3 saved today. Go me!”
Use +£ before each new saving so it counts towards your total.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Final Settlement
greytdog_2
Posts: 288 Forumite
today my mum has indicated that she may be willing to pay off one of my debts - my question is that i have three debts with marks and sparks the smallest of these being the one my mum wants to pay off, are they likely to be receptive or not as i have other debts with them? What sort of percentage should we offer? Will the other debtors cause problems if they notice?
thanks
thanks
0
Comments
-
are you on an iva or a dmp if any?Light Bulb moment - april 2007
total owed was £20'863.93 / now £0
loan (A+L)was £2'670.96 / now PAID IN FULL PPI claimed and recieved
overdraft(LLOYDS) owed £6'314.10/ now PAID IN FULL
LOAN (N/ROCK)owe £12'672.00 / now PAID IN FULL - debt free date 20130 -
im on a dmp - administered by money advisor0
-
hmmm not 100% sure then. im sure someone will be along soon with good advice.
how much do you owe to thethree creditors? and how much is your mam giving?Light Bulb moment - april 2007
total owed was £20'863.93 / now £0
loan (A+L)was £2'670.96 / now PAID IN FULL PPI claimed and recieved
overdraft(LLOYDS) owed £6'314.10/ now PAID IN FULL
LOAN (N/ROCK)owe £12'672.00 / now PAID IN FULL - debt free date 20130 -
one loan is £7000, personal resevere of £4440 and credit card with £2500 - she is offering to make a final settlement on the smallest one but as we are not sure how much to offer she hasnt decided on how much0
-
What percentage of your payments do Money Advisor take from you as fees?
Would you not be better off with the whole lot going to your creditors via CCCS or CAB?If you've have not made a mistake, you've made nothing0 -
they take nothing - its a free service provided by my employer - they are a cab advisor as well0
-
it would seem to have no real merit and not really be of any significant benefit to her and may upsert the situation.EU tariff on agricultual product 12.2%
some dairy products 42.1% cloths 11.4%
EU Clinical Trials Directive stops medical advances0 -
I guess its always a bad idea to try to give advice without the full information so :
can you list all the debts
what's the debt total
how much in total are you paying each month
have they all stopped charging interest and charges
when did you start the DMP?
As I understood you you have several debts of which three debts are to the one creditor (M&S), it seems to me that making an offer on one of those debts is likely to cause them to review you whole account .. and I'm not sure whether this would be helpful to you.
Now I haven't got the full debt picture as you have only given the M&S loans (is that right?) but clearing one relatively small debt doesn't seem to be worth potentially unsetting the situation and there seems little gain to you at this time.
But give us the full debt picture so we can see more clearly (or maybe I have misunderstood you total debt situation).EU tariff on agricultual product 12.2%
some dairy products 42.1% cloths 11.4%
EU Clinical Trials Directive stops medical advances0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.9K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.2K Spending & Discounts
- 248.4K Work, Benefits & Business
- 606.1K Mortgages, Homes & Bills
- 179K Life & Family
- 263.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards