Sort of debt-free but hope to be a super-scrimper in 2019

System

sounds interesting. Will have to look it up

Sun_Addict

I'm always doing freezer/store cupboard inventories, then I forget to update them! I really need to start chipping away at things that are overstaying their welcome though. I've just had to replace my fridge freezer (literally yesterday) and that forced me to throw away a lot of half used jars in the fridge. What I thought was half a jar of harissa paste was actually half a jar of mould and the same went for several other jars.

Talking of yo yo debts, I'm now on my third time of getting debt free via MSE, hoping this will be my last time.

[Deleted User]

Sun_Addict wrote: »

Talking of yo yo debts, I'm now on my third time of getting debt free via MSE, hoping this will be my last time.

Here's to this time being the very last time for all of us:beer:

millionaire_in_training

wee question re full and final offers. Do they affect your credit score? I'm up to date with my payments and don't intend defaulting on them so not sure if f&f is for me or not.............help please !

HairyHandofDartmoor

I admire your patience too with regard to the F&Fs. I was so impatient to be debt free after so many years that I could hardly sleep with impatience. DH and I are yo yo debtors too, which is why I never want a credit card again; I wouldn't trust us with one .

Seasidegal58

carbootcrazy wrote: »

I've just seen today's email from The Uber Frugal Challenge on the Frugalwoods website. The writer drip feeds a new task every day for the month and today's, by coincidence, is about eating the food that's already in the house:j. I haven't read the article that she's linked to but her style of writing is so good to read and I'm enjoying whatever she has to say. I'll look forward to reading this latest instalment when I get a chance. A lot of what she suggests or writes about isn't relevant to my situation or life-stage but there are always plenty of nuggets of common sense in it and it often helps to spark ideas that can be developed to fit:j. It's never too late to teach an old dog new tricks;)

I like Mrs Frugalwoods as well. I'm just re-reading her book at the moment. In her email yesterday she has given me the impetus to wait 72 hours before I buy something that I feel I can't live without to confirm whether it's a necessity!

enthusiasticsaver

carbootcrazy wrote: »

Thank you for your very kind words:T. I've seen you elsewhere and it's nice to see you over here too:)


I've already made my first speculative offers and, based on advice on a couple of threads where we discuss our triumphs and failures with F&Fs, I started at 25% payable. It's always possible to go up, no point in pitching too high and being accepted straight away. My offers were turned down, as I expected:(. They countered with what they were prepared to accept which was more like 65% payable but I declined. Not exactly offers I can't refuse:(. It's common for creditors to come back after a few months with a better offer so I'll sit it out for now. I will keep on paying my token £1 a month but won't be contacting them to 'up' my F&F offer. I have enough saved to cover the 65% anyway but I've no intention of paying that much;). The ball's in their court now.

Sounds like a good plan. They usually give better offers if no realistic chance of getting loads more out of you so continuing with the token payment and stressing you are retired and now only have a pension may convince them to accept a lot lower than 65%.

Puzzcat

millionaire_in_training wrote: »

wee question re full and final offers. Do they affect your credit score? I'm up to date with my payments and don't intend defaulting on them so not sure if f&f is for me or not.............help please !

Hi, you are unlike to get full and finals when paying at normal minimum payments, as far as I am aware.

beanielou

Puzzcat wrote: »

Hi, you are unlike to get full and finals when paying at normal minimum payments, as far as I am aware.

I agree with this 100%.

[Deleted User]

millionaire_in_training wrote: »

wee question re full and final offers. Do they affect your credit score? I'm up to date with my payments and don't intend defaulting on them so not sure if f&f is for me or not.............help please !

Other posters have already answered your query (thanks enthusiasticsaver, Puzz, beanielou :T:A). I don't think I can add much more useful information but if you haven't done so already I'd recommend you visit the 2 threads which have been priceless to me and many others in picking our way through the debt minefield. There's a lot to read and a lot of chaff to pick the wheat out of but I'm sure you'll find something relevant to your situation. If not, just ask them. The posters are unfailingly helpful and knowledgeable :j.

The first link is to the DMP support thread But I'm not sure if you are repaying your debts on a DMP or not.

http://https://forums.moneysavingexpert.com/showthread.php?t=5897083


This link is to the F&F Settlement thread:

https://forums.moneysavingexpert.com/showthread.php?t=115430


What I can add from personal experience is that if you are up to date with your payments, are paying a reasonable amount and have no good reason why that can't continue and also that you have not been defaulted there wouldn't be much, if any, hope of a F&F. The creditors would feel they are pretty sure of recouping their money eventually and would not need to offer you a discount.


Also, credit files would be marked as 'partially settled' or something similar which will stay on your file from the date the account was settled by F&F. The creditor would undertake never to chase you for the outstanding unpaid balance so in effect it is all settled but that's how the CRA system works. It sounds as if, in your situation, it isn't worth the risk. Despite your debts, can I ask if your credit score is good at the moment? Have you checked to see how your creditors are currently reporting your balance and repayment situation with the CRAs?