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Saying hello :)

edited 30 November -1 at 1:00AM in Debt-Free Wannabe
26 replies 5.1K views
2

Replies

  • enthusiasticsaverenthusiasticsaver Forumite, Board Guide
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    I agree with much of your post re budgeting and spending in cash and you are doing well in reducing the debt.

    Doing a self managed DMP or using stepchange or another free charity would be more sensible as then all your money would be reducing the debt with no fees to pay. Just paying off your own debts rather than your exes also makes more sense if you are over 40 as time is running out for you to buy a property if this is your eventual aim. Presumably at some point you also need to sort out a pension although hopefully you have one through your employer.

    Good luck in getting rid of the rest of your debt and continue with the budgeting. Hopefully your OH will get a new job soon.
    Early retired in December 2017

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to [email protected]
  • Kitten868Kitten868 Forumite
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    I'm really impressed with your positive attitude and determination but I am really confused about your situation. You have chosen to go through a charging debt management company as you want to repay more than just your debt? Despite the fact that you have walked away from your home despite paying towards it for 20 years without a penny? You don't owe him your ex anything - don't give away any more of your money! Get on to step change or manage yourself and all your brilliant energy will pay off! You'll be debt free with decent savings before you know it xxx
    Loan 1 £4700/£8000
    Loan 2 £1700/£5800
    Total £6400/£13800 53% PAID
  • MovingForwardsMovingForwards Forumite
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    Just a quick update.

    Well, today is the day I paid off one debt, just over £200 but it felt good.

    Have explained to them why the AP marker is unjust, especially as the account was defaulted and they never reported it to the CRA's until deciding to put APs on in 2015. It's gone to a specialist team to look into / deal with. Having to stand my ground as I cant stick being in a rental for another 6 years and it doesnt fit with my 'get out of debt, get a deposit and get a mortgage plan'.

    The idea of being in a rental, retired and living off whatever pensions I have gathered over the years scares the hell out of me.

    Anyhow, back to today. I picked this one as it is one of two showing on my credit report; the other is the CCJ which is being paid off monthly and only 20 months to go before it is gone, just under 3 years before it drops off my credit report.

    I have calculated my outstanding debt amounts to under £11k, my ex's amounts to around £9.5k. When broken down like that it is a lot easier for me to see the wood through the trees.

    My overall plan is to get my debts paid off asap, sort my ex out with a charity DMC and I will then get the divorce underway.

    Best weight off my shoulders was deciding I had to move on and start over :j was a difficult one after so long but I know had I stayed nothing would have changed.

    ATM I pay his debts because I know his circumstances. I have set a limit as to how long this carries on for. I know what I am entitled to, but I have no interest to go down that route. Maybe if I wasnt 'financially stable' or 'money in the bank to cover a period of unemployment' or 'with no chance of getting a mortgage' or 'insert other reasons here' it would be different. Yes, I am a woman scorned, but too old (lol early 40's) and wise to go for blood. All I feel is pitty ;)

    I am still battling with the DMC who are attempting to rely on the GDPR to not release debt company account numbers (have yet to finish laughing and prepare my email response to them).

    For ease my debts:
    Co 1 = £176.96 & £1963.36
    Co 2 = £7091.78
    Co 3 = £1467.96 (ccj)

    Currently eyeballing Co 1 and get rid of that by the new year. Although if I didnt want to have back up savings in case of job loss I could probably clear the lot in the new year.

    Did contemplate a diary but I didnt think it was for me, in 2012 I could have done with it but since I started over I am no longer the person I was. I am cautious with money and know it doesnt grow on trees, I respect money and save for what I want. The only debt I do want is a mortgage (unless there is a crash by the time I get the deposit together, then I could be a cash buyer lol).

    So, that is where I am at :D
  • edited 8 September 2018 at 1:02PM
    sourcratessourcrates Forumite, Board Guide
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    edited 8 September 2018 at 1:02PM

    I am still battling with the DMC who are attempting to rely on the GDPR to not release debt company account numbers (have yet to finish laughing and prepare my email response to them).

    So, that is where I am at :D


    Hi,


    Where as i can appreciate your situation, you do not need to have any further comms with the fee charging DMC.

    You can simply write and cancel the arrangement forthwith.


    YOU ONLY HAVE 3 DEBTS !!!!!


    You do not need there help to supply anything, as soon as payments stop, or shortly thereafter, the companies who now hold your accounts will write to you, you can then simply set up payment plans with them, for exactly the same amounts as before, if you wish, but minus the DMC`s 35% cut.

    Do you see the futility and cost of using them now ?

    You do not need them, they do nothing but act as a facilitator for your payments to pass through, you can simply take them out of the equation.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to:
    [email protected].
    Any views expressed are mine and not the official line of MoneySavingExpert.com.
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • MovingForwardsMovingForwards Forumite
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    I do understand what you are saying sourcrates, only I havent changed addresses with them.
  • -taff-taff Forumite
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    Your defaults are on your creit file. Stop paying the company and if you like, write to the companies on your credit file.
    If you wanted to, you could ask them for CCAs, wouldn't hurt.


    Oh, and paying for your ex? I had an ex I felt sorry for, he didn't change, he continued to be a child and it was only when he had no one and nothing left to leanon, including me, that he grew up a bit. Me enabling his behaviour mean he never had to change. SOmething else to think about.
  • sourcratessourcrates Forumite, Board Guide
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    I do understand what you are saying sourcrates, only I havent changed addresses with them.


    Any particular reason for this ?


    If its to avoid unwanted contact, companies now have to adhere to the new GDPR rules and you can specify how you are to be contacted.


    You are wasting an awful lot of money at present.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to:
    [email protected].
    Any views expressed are mine and not the official line of MoneySavingExpert.com.
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • MovingForwardsMovingForwards Forumite
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    Sourcrates it was just because the old address was owned and my address was rented.

    I know you are right :) just wanted the reference numbers to make it easier for me.

    The debts are so old now they are not showing on the CRA's so cant tally them up that way, plus as always the companies change hands and are not with the original one.
  • -taff-taff Forumite
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    10,000 Posts Seventh Anniversary Name Dropper Photogenic
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    It might be worth, when you do get the addresses of who youre currently paying the debt to, to ask for a CCA. If they can't provide one, you can stop paying all together....And as you say, this goes back over 15 years, and the debts have changed hands several times, there's every chance they can't provide one.
  • sourcratessourcrates Forumite, Board Guide
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    Sourcrates it was just because the old address was owned and my address was rented.

    I know you are right :) just wanted the reference numbers to make it easier for me.

    The debts are so old now they are not showing on the CRA's so cant tally them up that way, plus as always the companies change hands and are not with the original one.


    Understood, but you must excuse us all trying here.


    On moneysavingexpert.com the title says it all, our goal is to save you money, not the other way around, so you can appreciate where we are coming from.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to:
    [email protected].
    Any views expressed are mine and not the official line of MoneySavingExpert.com.
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
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