What a mess...

stvn1

Nothing yet, I'm going to call them after work.

stvn1

Rob Way haven't given me an answer yet. It's being addressed as a complaint so they're saying it could take up to 8 weeks but should be resolved sooner than that. I'll just have to wait. The account is on hold in the meantime.

stvn1

stvn1 wrote: »

Cabot - they won't accept my payment proposal. They will only allow a discount if the debt is paid over 12 months. Time to email up the food chain a bit.

I finally got a reply from Cabot today, I copied the CEO into my email and they've decided to allow payment over 18 months with a discount. They'll accept 18x£58.99 for a settlement of £1061.86. That's more manageable than the same settlement figure over 12 months which is what they previously offered. I've replied again pushing for the 30% discount so I haven't agreed yet but it's progress.

Still no word from Rob Way. If I can have these agreements in place for 1st December I'll be happy. It takes quite a bit of negotiation this!

stvn1

Just to recap, for my own reference.

ACI (Avant Credit) - cleared.
Capital One - cleared.

SLL Capital - 12 month agreement - £52.00 per month
Lowell - holding agreement - £10.00 per month

Cabot - 18 x £58.99 offered (£1061.86 settlement) counter offer sent
Rob Way - 12 x £108.34 offered (£1300.08 settlement) counter offer sent
ACI - 5 x £108.23 offered (£541.15 settlement) counter offer sent

My monthly commitment so far is £62. I can commit up to £200ish. I feel like I'm losing track a little bit so wanted to note this here. I'm going to commit to agreements on a first come first served basis up to my maximum monthly amount. I'm being sure to get the best possible deal for me first though.

UncannyScot

You're doing well
Just keep your focus and you will get there

wishingthemortgaheaway

It's great that you are getting deals with your outstanding creditors, but (and this may sound harsh, rather than supportive, which is what I'm aiming for) what are you doing to understand and change the spending habits that got you into this situation in the first place?

stvn1

wishingthemortgaheaway wrote: »

It's great that you are getting deals with your outstanding creditors, but (and this may sound harsh, rather than supportive, which is what I'm aiming for) what are you doing to understand and change the spending habits that got you into this situation in the first place?

That's not harsh, is a fair question. The main factor that led to this situation was a lack of income. I work part-time but I was the main earner. My wife was doing a degree and was bringing in very little money, we weren't living within our means. She now has a better job thanks to the degree and earns more than me. I'll never let this happen again, the lesson had been learned.

stvn1

A bit of an update.

Moorcroft are not budging at all so they're going to be getting £5 a month until they do.

I'm going to call Cabot and set up the arrangement starting on 1st December for 18 months.

The Rob Way complaint is still pending.

stvn1

I'm glad I held off on Cabot. They emailed me today to accept my counter offer of 18 payments of £51.61 for a settlement figure of £928.98. That's a discount of £398.68.

UncannyScot

Another good result
Doing well