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Finally Debt Free After 34 Years, But Still Need to Live Frugally

edited 18 November 2017 at 10:49AM in Debt Free Diaries
13.7K replies 772K views
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  • edited 1 November 2018 at 2:31PM
    HairyHandofDartmoorHairyHandofDartmoor Forumite
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    edited 1 November 2018 at 2:31PM
    Thanks so much, HH, for answering my question and explaining so clearly how you went about it. I now recall reading about the hoops you had to jump through and having to provide medical information for the awkward one. I'm so pleased everything worked out so well for you and your family:T:beer::j


    I'm worried about the percentage situation. I have 2 debts of the same size the 2 smallest ones, which are UE according to AAD but which the creditors had provided CCA information for and said in their covering letters were actually Enforceable. I was going to start with them and offer a very low amount and if they were unwilling to accept counter with the information that as I've been reliably informed the agreements are UE they are lucky to be getting even a penny. Maybe not put as cheekily as that but you know what I mean:rotfl:.


    My biggest remaining debt of the 5, which is almost half of the total I still owe overall, is to Lloyds who have been difficult throughout (even pre DMP when I didn't even owe them anything:eek:) and still own the debt themselves. I can't see them playing ball somehow:(. I certainly don't think they'll accept the same low % that the smaller/UE ones would. If I offer Lloyds a bigger % I doubt the 2 other Enforceable ones would accept a much lower one should they know about it. That's really the thing that's stopping me get on and start offering. I don't want to offer the same % to all and if any ask me I don't know what to tell them:o. Would they be able to find that information out from anywhere? Checking my credit file I suppose but are they allowed to do that?


    You also said some wanted more info when you phoned them. Could I please ask what it was they needed to know other than you told them in your offer letter? Just the type of info they needed not the specifics.


    Maybe I should start with the 2 UE ones straight away and get them out of the way. I could then tell the others when they ask further down the line that the paid-off ones had been UE. Apart from the Lloyds one which I'm leaving until last (wimp that I am:o) I'm concerned about the 2 middle order debts. I shall offer them roughly the same percentage as each other, obviously more than the UE ones so if they ask it's OK. I just wonder how any of them react to knowing one or more of the debts has been cleared sooner rather than theirs. I had never planned to pay all creditors the same %, I'd kind of worked out a sliding scale based on what I can actually afford, how big the outstanding debt still is and how likely they might be to accept it (sold on or original creditor). I may have overcomplicated things as usual


    Sorry to hijack your diary, HH, especially so early in the day:o. I know you always accept these takeovers very generously:A but I feel guilty doing it anyway. As you know OH doesn't know about my debts and apart from one person who knows a tiny smidgen of it neither does any living soul. It's all beginning to get to me at the moment and stress me out. I hardly slept a wink last night and not for once because I was cold. I just couldn't switch my mind off:(


    The information they wanted was just asking whether had we offered all our creditors the same percentage and if they had said yes. The only creditor who wanted more info than that was Asset Link who wanted the doctors letter and proof that our other creditors had accepted 50% :mad:. But they're all different.

    Jwil had some good advice about writing to them all with the same low percentage offer and then negotiate individually from there. I know people do negotiate different percentages with different creditors. And on your credit report is says partial settlement or satisfied, but it doesn't say how much you gave them.
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
    EMERGENCY FUND 1 = £1,500/£5,000. EMERGENCY FUND 2 = £50/£5,000.
    CHRISTMAS SAVINGS = £144.37/£500
    PREMIUM BONDS ME = £300. PREMIUM BONDS DH = £300
  • HairyHandofDartmoorHairyHandofDartmoor Forumite
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    I really feel you over the car situation:kisses3:. Car expenses have been the bane of my life:mad:. My tax, MOT and insurance renewal dates all crop up in the same month:eek:, I was forever trying to catch up after each renewal month because, like you I had no savings to cover such an outlay. I started paying my tax and insurance monthly by DD but I know it's an expensive way of doing things. No option though without the money upfront,


    I hope your car passes its MOT OK and doesn't need any work done. I don't know what the police are like in your area but I'd keep off the road as much as possible before the MOT if I were you. Luckily they can't spot an out-of-tax vehicle now without the old tax disc on the windscreen but they can do it all electronically if they have any concerns about anything else to do with the car. I think they give a bit of leeway with the tax, a few days anyway but I could be wrong. OH was once questioned about an out of date tax disc, only a couple of days out, and they didn't fine him or anything. It came to light when he was stopped and pulled in to one of those random roadside checks they do from time to time otherwise no one would have been aware probably. They just told him to see to it ASAP. His MOT was up to date though.

    We are definitely not driving our car until the MOT on Saturday. It's on the road outside our house as we don't have a drive or garage. But hopefully no one will notice it's not taxed before Saturday.
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
    EMERGENCY FUND 1 = £1,500/£5,000. EMERGENCY FUND 2 = £50/£5,000.
    CHRISTMAS SAVINGS = £144.37/£500
    PREMIUM BONDS ME = £300. PREMIUM BONDS DH = £300
  • HairyHandofDartmoorHairyHandofDartmoor Forumite
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    badmemory wrote: »
    A CRT screen is one of those old bulky ones, not a flat screen as they all are now. All modern appliances seem to use so much less power than the old ones. I've compared my old fridge & freezer usage to what they say new ones use & the old ones use 4 times as much. I need a new kitchen when I will finally replace them. My father installed this one 28 years ago & most of it is still absolutely fine. This is one of the very few times I miss having an OH cos I always feel that I am being pushed into getting something which is not really what I want - I don't & never have done trendy!

    We don't have any CRT screens luckily. Our fridge and freezer are about 15 years old but we can't afford to replace them.
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
    EMERGENCY FUND 1 = £1,500/£5,000. EMERGENCY FUND 2 = £50/£5,000.
    CHRISTMAS SAVINGS = £144.37/£500
    PREMIUM BONDS ME = £300. PREMIUM BONDS DH = £300
  • HairyHandofDartmoorHairyHandofDartmoor Forumite
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    I enjoyed volunteering so I'm glad I went, and the walk there and back did me good :).

    This afternoon I want to work on my business and sort out a schedule of bill payments that need to go out in November, so I know what's coming up.

    A customer has said they're going to pay us today :T so that should cover the MOT and some other bills, as long as there's not much wrong with the car.

    I also need to walk to the post office and post some more contact lenses to DS3 as he didn't take enough to uni with him, sigh.
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
    EMERGENCY FUND 1 = £1,500/£5,000. EMERGENCY FUND 2 = £50/£5,000.
    CHRISTMAS SAVINGS = £144.37/£500
    PREMIUM BONDS ME = £300. PREMIUM BONDS DH = £300
  • CherryfudgeCherryfudge Forumite
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    Hello Hairy,

    I have decided that despite being a mere 1,660 posts behind on your thread, I am just going to skip ahead to the end and start reading properly. :rotfl:

    I'm really sorry for all the significant things I will have missed; I hope things are trundling along in a generally positive direction and, well, here I am again. :) Nice to hear you have the money coming for the MOT too. :)
    MFW #30 Overpaid by £4,100.58/£3000 in 2018
    Overpaid by £3,259.33/2,880.00 to 29/11/19
    Decluttered in 2019: 2,041/2,019 as of 21/10/19
  • edited 1 November 2018 at 5:45PM
    HairyHandofDartmoorHairyHandofDartmoor Forumite
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    edited 1 November 2018 at 5:45PM
    Hi Cherry. It's very nice to hear from you :).You would have a lot of reading to do to catch up :eek:.

    The most significant things you may have missed are that my mum died very suddenly in July :( and DS3 went to uni in September.

    Apart from that I'm trundling along trying to make more money and just generally cope with life.
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
    EMERGENCY FUND 1 = £1,500/£5,000. EMERGENCY FUND 2 = £50/£5,000.
    CHRISTMAS SAVINGS = £144.37/£500
    PREMIUM BONDS ME = £300. PREMIUM BONDS DH = £300
  • edited 1 November 2018 at 7:02PM
    HairyHandofDartmoorHairyHandofDartmoor Forumite
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    edited 1 November 2018 at 7:02PM
    I've posted DS3's contact lenses, another £4.40 I'll never see again :mad:.

    However I'm pleased that while walking home from volunteering I resisted buying a coke :T. I always come out thirsty but decided to have a drink at home rather than waste money. I didn't buy any cokes on my Wednesday food shop either, otherwise I would have struggled to keep it under £60 :T.

    I've decided that every penny counts at the moment.
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
    EMERGENCY FUND 1 = £1,500/£5,000. EMERGENCY FUND 2 = £50/£5,000.
    CHRISTMAS SAVINGS = £144.37/£500
    PREMIUM BONDS ME = £300. PREMIUM BONDS DH = £300
  • CherryfudgeCherryfudge Forumite
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    Sixth Anniversary 1,000 Posts Name Dropper
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    I'm so sorry to hear about you losing your Mum, Hairy, and sorry I wasn't around to say so nearer the time. Then your son going off to Uni has meant massive changes in a short time...

    Here's hoping for some stability and peace and nice things for you for a good while.
    MFW #30 Overpaid by £4,100.58/£3000 in 2018
    Overpaid by £3,259.33/2,880.00 to 29/11/19
    Decluttered in 2019: 2,041/2,019 as of 21/10/19
  • HairyHandofDartmoorHairyHandofDartmoor Forumite
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    Thank you Cherry, it's a very difficult time, but I'm taking one day at a time and coping the best I can. I'm lucky that DH and DS1 are very supportive.
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
    EMERGENCY FUND 1 = £1,500/£5,000. EMERGENCY FUND 2 = £50/£5,000.
    CHRISTMAS SAVINGS = £144.37/£500
    PREMIUM BONDS ME = £300. PREMIUM BONDS DH = £300
  • BalanceBy50BalanceBy50 Forumite
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    I've posted DS3's contact lenses, another £4.40 I'll never see again :mad:.

    However I'm pleased that while walking home from volunteering I resisted buying a coke :T. I always come out thirsty but decided to have a drink at home rather than waste money. I didn't buy any cokes on my Wednesday food shop either, otherwise I would have struggled to keep it under £60 :T.

    I've decided that every penny counts at the moment.

    HH maybe worth looking into doing postal surveys for RM. They last for 6 months and you get paid in stamps. I haven't bought a stamp for years and it only takes a few minutes a week xx
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