Debt-free success story

RioDeJaneiro

I just wanted to give a summary of my debt-free success story as I have been debt free for almost a year now.

Back story
In 2012-15 I lost my full time job due to ill-health and didn't work for almost 3 years. I had several credit cards, a car hire purchase and an overdraft which all defaulted and I also took out payday loans to try and cover some of my outgoings whilst not working. At the beginning of 2017 I started contacting a lot of these debt collection companies with a view of paying off the amounts. In October 2017 I sent out CCA Requests and slowly sent out full and final settlement offers. Below are the debt total amounts and what I ended up paying off as full and final settlement.

Debts
Lowell £930 - £233 paid (25%)
Lowell £511 - £128 paid (25%)
Lowell £2920 (CCJ Paying £50 per month) - £568 paid (20% of outstanding amount)
1st Credit £518 - £129 paid (25%)
1st Credit £450 - £112 paid (25%)
1st Credit £1578 - £394 paid (25%)
Motormile £848 - £342 paid (40%)
Arrow (Dealing with Restons Solicitors) £263 - £180 paid (68%)
Cabot £1015 - £0 paid (statute barred)
PRA Group £774 - £0 paid (statute barred)
PRA Group £251 - £0 paid (statute barred)
Hillesden Securities £2244 - £0 paid (statute barred)
Total Debt £12302
Total Paid on F&F Settlements £3101

The debts with Cabot and PRA Group statute barred after they failed to provide me with the requested CCA documents. The Hillesden Securities debt statute barred without ever having any communication from them since they bought the debt concerned. 

I hope this information is useful for anyone else considering sending F&F settlement offers. 

elliexox

Hi RioDeJaneiro
That's really inspiring, congratulations on clearing your debt.
Could you give some advise on how you negotiated your settlements so low? 

Smashingitnow

Wow!!!! Well done. 

ditty1234

Listen that is very inspiring, and in a fairly short amount of time.

DebtHurricane

I was hoping to settle my debts for around the same but my debts are only like a year old. Only recently defaulted.