What a mess...

stvn1

An update for my reference:

Lowell £ 829.31 : £ 320.00
Lowell £1348.19 : £ 777.72
SLL £ 960.00 : £ 624.00
ACI £1386.60 : £ 0.00
Moorcroft £ 690.47 : £ 0.00
CRS £ 773.12 : £ 541.15
Shoosmiths £ 719.48 : £ 326.00
Rob Way £2191.00 : £ 0.00
Barclays £1039.00 : £796.23
Cabot £1327.32 : £ 928.98

anna_1977

just found your diary - you've done amazingly.

I think you need to take the pressure off yourself and by maybe, forgetting targets that will work.

Good luck

stvn1

anna_1977 wrote: »

just found your diary - you've done amazingly.

I think you need to take the pressure off yourself and by maybe, forgetting targets that will work.

Good luck

Thanks Anna. I agree, no more silly targets.

stvn1

Ok, so I'm not sure if this will be contentious or not but I got an email today regarding a complaint about the £960 I owed to SLL. My complaint was upheld and the debt has been written off. Here's the email with my personal details retracted:

Dear Mr ***,

I write further to our email dated 9 March 2018, thank you for your patience whilst I have been investigating your complaint.

My understanding of your complaint is that you do not feel that appropriate checks were carried out to ensure you could afford your loan. Furthermore, you feel that had a full and proper assessment of your financial standing been completed, the application would have been declined. Please let me know if I have missed any points or misunderstood anything.

To investigate your complaint I have reviewed the account opening procedures in place at the time. Having done so, I am able to inform you that we conducted creditworthiness checks, assessed your ability to afford the repayments which would fall due under the proposed agreements, and we considered how you were managing other debts at that time. Based upon these checks it was considered responsible to advance credit to you. However, having reviewed the information you have provided, there are indicators that the product may not have been suitable for you and with this in mind, I uphold your complaint.

In line with my decision, and to return you to the position you would be in had you not been granted a loan, I would like to offer the following:

• You borrowed £600.00, and to date have repaid £0.00, as such, we do not consider any refund due.

• The record of the loans will be removed from your credit file; we will update Equifax, Experian, and CallCredit.

• The outstanding balance of £960.00 will be written off, and the account closed down. We will inform SLL Capital (the new owners of the debt) of our decision, to ensure you receive no further contact. Please cancel any regular payments set up in respect of this debt, either directly or through a debt management company.

stvn1

The current amount owed is now £3690.08. I'm starting to believe I can be debt free this year.

stvn1

I had to spend some money on a new phone today. The old Android phone I've been using since selling my iPhone was playing up. No iPhone though, I've ordered an Honor 9 Lite from John Lewis at £159 delivered. I know that money could have been used on paying off debt but I do need a phone and I think this is a good balance between spending sensibly and being extravagant.

stvn1

I'm still finding myself rereading the email I got yesterday, I can't believe they've written the debt off!

stvn1

My new phone arrived today and I'm really pleased with it. If anyone needs a phone look at the Honor 9 Lite, for £159 it's brilliant value for money. I doubt I'll bother with an iPhone again.

stvn1

I've just been working out that with £3690 left and a plan to repay £200 a month that I'll be debt free in 18 months. :eek:

Now, can I make that 12 months or less? Honestly, when I started this and had a figure of over £12000 owing I couldn't have contemplated talking about being debt free, it seemed so far away. So why can't I do this in 12 months?

stvn1

Payday today.