End Of Year Debt Review

[Deleted User]

As the year draws to a close, I've added up all my remaining old toxic debt left to be paid and it is as follows...

RBS (Robinson Way) - £320.40
O2 (Lowell) - £178.14
Avant Credit (TM Legal) - £1778.83

Total: £2,277.37

I will be debt free before the end of 2020 as I'm going to chuck more money at it in the new year to clear it faster. :T

I have an old Halifax Default that will drop off my Credit Files in February 2020. That will leave only the Lowell and RBS Defaults to drop off in 2023 and 2024 respectively.

The big downside is the TM Legal CCJ, although hopefully it will be marked as satisfied before the end of 2020, I'll have to live with it on my Credit Files until 2024.

On the small plus side, my Clear Score and Credit Karma scores have risen slightly over the past month. Although I know these are meaningless when applying for credit, it's still a good sign that I'm heading in the right direction.

I have a Luma and a Capital One credit card both with a combined limit of £1200. I've only been using these to help build my credit history and I have been paying them off. I haven't been using them to splash out on big purchases and only pay off the minimum unlike in my younger years. Also I don't have any overdrafts with my current banks and never ever want one again.

Here's to 2020! :beer:

sourcrates

Hi,

Just as a side issue, not too long ago Avant credit were up the creek without a certain impliment, and desperatly needed to raise a ton of cash, they were settleing debts for peanuts, one poster i recall settled his £1200 debt for around £350, they were then given a massive cash injection by their American parent company, and as of today, are still trading, perhaps you missed the boat on obtaining a good settlement with that one.

[Deleted User]

sourcrates wrote: »

Hi,

Just as a side issue, not too long ago Avant credit were up the creek without a certain impliment, and desperatly needed to raise a ton of cash, they were settleing debts for peanuts, one poster i recall settled his £1200 debt for around £350, they were then given a massive cash injection by their American parent company, and as of today, are still trading, perhaps you missed the boat on obtaining a good settlement with that one.

Yes, I must have missed the boat on that one.

If I could have afforded £350 lump sum to partial settle the debt, I wouldn't have stopped making the monthly repayments in the first place.




.

[Deleted User]

I forgot to add that I also cleared my council tax debt which had been hanging over me for 3 or 4 years. All up to date with that now too.

Unicorn_cottage

Well done Lee!

Would it be worth contacting Avant Credit to see if they would give you a settlement figure?

[Deleted User]

Unicorn_cottage wrote: »

Well done Lee!

Would it be worth contacting Avant Credit to see if they would give you a settlement figure?

Last time I asked they were only prepared to offer 5% discount which is still way over my budget. Avant sold the debt to Asset Collection/TM Legal who now own the debt. Plus as it's a CCJ it won't get marked as satisfied.

[Deleted User]

Just an update to say that all 3 "toxic" debts above have now been cleared although TM Legal did give me a £500 discount and agreed to have the CCJ marked satisfied with the Court.

This is the first time in about 14 years that I haven't had a debt collector after me for some debt or the other. What a great feeling!

I do have 4 credit cards but they are running smoothly and are not in arrears, using them to help build my credit record up again. So I could say I'm now debt free!

DebtHurricane

Thanks for updating- it’s helpful to others myself included to see the light at the end of the tunnel! Congrats on getting it cleared mate

[Deleted User]

Just a spreadsheet I've been working on.