New me New start, Pania's positive Progress!

pania

if i had the money to settle out right Z I would love to but i would need to save up until i have enough to offer a settlement. i'm thinking thats going to be the best way to go with n rock, keep paying the £274 but put the rest into an account until i have enough in 4-5 months time to ask them what a settlement would be at that time. I just thought releasing the £274 per month would help with the others.
halifax would accept £900 for the loan and £1850 for the CC, this would be recorded as partial settlement though which would leave them free to pursue the remainder of the debt whenever they wished. so i think paying the full balance is the only way to go there.

The most crazy thing??? Fredrikson international would ask HALF the outstanding loan amount on my nationwide loan!!!!!! that is crazy!!!!!

ZTD

pania wrote: »

if i had the money to settle out right Z I would love to but i would need to save up until i have enough to offer a settlement. i'm thinking thats going to be the best way to go with n rock, keep paying the £274 but put the rest into an account until i have enough in 4-5 months time to ask them what a settlement would be at that time. I just thought releasing the £274 per month would help with the others.

Yes, it would, but so would the overpayments you'd be making on your NR loan in order to release the £274 - IYSWIM.

pania wrote: »

halifax would accept £900 for the loan and £1850 for the CC, this would be recorded as partial settlement though which would leave them free to pursue the remainder of the debt whenever they wished.

That's not neccesarily true. It would be recorded on your credit record as a partial settlement - but if they agreed (in writing!) to write off the remainder, then they could not persue it in future.

pania wrote: »

The most crazy thing??? Fredrikson international would ask HALF the outstanding loan amount on my nationwide loan!!!!!! that is crazy!!!!!

A bird in the hand is worth two in the [STRIKE]pub[/STRIKE] bush. They obviously think it better to have half now, rather than run the risk of you being hit by a bus in the future.

pania

yep i see your point Z, food for thought indeed!!

It's good to know that they wouldn't be able to pursue the outstanding amount in the future, the cheeky lady at blair oliver scott was obviously pulling my chain as it were! grrrr grrrr grrrr. :mad: ok, so confused now,
welcome finance @ 39.9% APR,
Northern rock @7.2% (but highest monthly payment)

all the rest frozen,

Don't trust welcome finance as far as i could throw them which wouldn't be far at all, so any overpayments would be saved and done purely as a settlement,:rolleyes:

Snowball says to clear N wide loan first as highest outstanding balance but that would mean i wasn't clearing the smaller debts and thus improving my credit rating with satisifed defaults, also wouldn't be as psychologically beneficial.

what best to do?


Just one question though Z? whats a pub? haven't seen the inside of one of those in ages!!:beer: :rotfl:

see your point with the nationwide loan, just staggered me is all!! if only i could get my hands on £7400 that'd be half my target met in a second!!!:cool:

Karmacat

Huh? I'm back online, pania, and staggered that the snowball says to clear Nationwide first, if the welcome finance rate is 39.9%!!!!! Are you sure? Thats a really dumb question, I know, but I thought that went against the snowball principle, of paying off the debt with the highest interest first, never mind how big or small it actually is.

pania

Right Lunar your on then hon. not so much of a challenge as a support. we WILL get there and we WILL d it!! you me and karma thus far.

If you want to get heads together for some ideas drop me a PM.

hypno06

Hi P! Seems like you have energy in abundance - want to chuck some of it down the road towards me, please!!

re the weight to lose......I have no idea what I weigh, but even my "fat" clothes are in danger of becoming "thin" clothes IYSWIM! So I am with you on the weight loss thing. Starting tomorrow, I will be good. Today, though, I fancy biscuits, so may be sending DD to the shop on his bike to buy some!!

hypno06

BTW, my target is also £15k by the end of next year.......I spot a theme here!

ZTD

pania wrote: »

yep i see your point Z, food for thought indeed!!

It's good to know that they wouldn't be able to pursue the outstanding amount in the future, the cheeky lady at blair oliver scott was obviously pulling my chain as it were!

They can't persue the remainder if they have agreed not to. They *can* persue it if they haven't made the undertaking not to. I hope that makes sense. *Always* get it in *writing*. Of course they're going to lie to you.

pania wrote: »

grrrr grrrr grrrr. :mad: ok, so confused now,
welcome finance @ 39.9% APR,
Northern rock @7.2% (but highest monthly payment)

all the rest frozen,

Don't trust welcome finance as far as i could throw them which wouldn't be far at all, so any overpayments would be saved and done purely as a settlement,:rolleyes:

Snowball says to clear N wide loan first as highest outstanding balance but that would mean i wasn't clearing the smaller debts and thus improving my credit rating with satisifed defaults, also wouldn't be as psychologically beneficial.

If it's frozen, it's at 0%, so "overpaying" into a bank account would be more beneficial.

pania wrote: »

what best to do?

Just one question though Z? whats a pub? haven't seen the inside of one of those in ages!!:beer: :rotfl:

It's a place where single men go to bond, and married men go for single women. Or so I've been led to believe...

pania

yes i was working it on outstanding balance as i don't want to overpay welcome. they are sneaky snakes in the grass and i have a complaint lodged with them currently.

Get this,

loan taken out with them June 2006 repayment of £95 per month for 3 years, apr 52%. every payment made on time and at full amount.

Asked for a settlement March 2007 as was going to settle and move elsewhere. settlement =£1800 exactly.
Made 4 further payments of £95, until August when i restructured the loan.
In august settlement figure £1980!!!! they could give me absolutely no reason why it had gone up so much even with the effect of interest. would love to get rid of it though but ONLY if i know that they cannot pull a fast one and get more money from me.

pania

ZTD wrote: »

They can't persue the remainder if they have agreed not to. They *can* persue it if they haven't made the undertaking not to. I hope that makes sense. *Always* get it in *writing*. Of course they're going to lie to you.

I'm with you, so long as they confirm in writing that the matter is closed i'm safe.



If it's frozen, it's at 0%, so "overpaying" into a bank account would be more beneficial.

Off to look for a good account shortly, if anyone has any suggestions...



It's a place where single men go to bond, and married men go for single women. Or so I've been led to believe...

:rotfl: :rotfl: :rotfl: sounds about right.