What a mess...

stvn1

Cabot - I had a conversation with them at lunchtime. They firstly offered a 15% discount with 12 payments of £94.02. No chance. They then offered a 20% discount with 12 payments of £88.49. Not quite.

I've emailed offering 18 payments of £51.66 with a 30% discount for a total repayment of £928.98. Hopefully they will agree to that.

stvn1

I've made £89 today by selling stuff on Gumtree. This was to pay off the Capital One credit card. I'd really like to call SLL and pay the remaining £141 to clear my first debt completely though. I don't know what to do for the best.

Suffolk_lass

Stick to your plan to pay down the Capital One Card otherwise you will be writing off your sales in interest on that debt! You could carry on decluttering after that is under control and pick off the 0% accruing debt.

Well done for such a positive start

stvn1

Suffolk_lass wrote: »

Stick to your plan to pay down the Capital One Card otherwise you will be writing off your sales in interest on that debt! You could carry on decluttering after that is under control and pick off the 0% accruing debt.

Well done for such a positive start

Thank you, you're right. I've just made an £89 bank transfer to the Capital One card.

stvn1

Just checked my Capital One account to see an available balance of £96.84. It's very satisfying. I can see this becoming addictive.

stvn1

Rob Way - I could use some advice on this one. I've been on the phone with them for 40 minutes. After a lot of toing and froing I've been offered a repayment plan over 12 months. The terms are 12 X £108 with a partial settlement of £1300. This is a reduction of £891.37.

The amount is more than I can afford really given that I need to agree terms with my other creditors. My highest offer to them was 12 X £91.31 with a partial settlement of £1095.67 (50% of the total amount).

They are my largest creditor and it would mean it's dealt with in 12 months.

enthusiasticsaver

I think you need to be careful not to overstretch yourself so you do not end up on defaulting some of those arrangements. I know you must be impatient to get this over with but the worst thing you can do is make an arrangement with a few of them and then not be able to meet the agreed amounts. The Capital one card is accruing interest at an alarming rate so that should be the priority. The others are at 0% and you can deal with some now within your budget and the rest after the first lot cleared or once you have fulfilled the terms of the F and F for ACI which is only next month. If Rob Way will agree to defer until December then no reason why that could not then be affordable as ACI will have been repaid.

stvn1

Thank you.

I've just cleared ACI! That's my first debt settled. Despite not wanting help my wife paid it so I could commit to the Rob Way payment plan. She said that she could see how keen I am to make headway. I think seeing people calling to the door to buy bits and pieces so I can pay down the Capital One card has impressed her. She's great, she owes nothing to anyone and is very generous.

I'm keen not to overstretch myself as I really don't want to default on a payment l plan. I'm now going to call Rob Way and see if they will let me start in December so I can focus for the month on the interest accruing credit card.

enthusiasticsaver

Excellent news. That is great that one debt is now gone and arrangements made with Lowell, Rob Way and SSL and maybe Cabot. Once you get the Capital one card repaid you can make arrangements hopefully with Barclays, CRS and Moorcroft. You are certainly going great guns with this. How did you get into that much debt when you seem so proactive and organised?

stvn1

Honestly, I've been sleep walking into this. It's happened without me having a single thought about the consequences. I know that sounds silly but it's absolutely true.