2years ago I got myself into a hole with payday loans, credit cards and loans. It all fell apart when I had to go onto the sick at work and I couldn’t keep up payments etc.

fast forward a year and I had defaults, debt letters and phone calls chasing money which is just as stressful as you all well know. By this point most of my debt had been sold on and I started getting discount offers. So after a bit of digging and research on forums and reading DCA sites and their trade sites, I found out the thing that changed how I dealt with these companies.

They buy our debt for 10-20p in the pound. The creditor claims insurance to cover the rest of the cost. So for every £100 you owed they are paying as little as £10!

so I put aside £50-100 a month from my wages and started making one off time limited offers to settle my accounts by offering 25% of the balance as full and final payments. It took me just over a year to do this but every company bar one took the offer and updated my credit file as settled. 

It seems impossible when your stowed under with debt to see a way out. This isn’t going to be possible for everyone to do but if you can do it, I highly recommend it. The feeling of been debt free and having no phone calls or letters is amazing. I wish you all good luck on your journey and I just wanted to share mine so you can see it is possible. Don’t give up and remember, if things seems hard you can always come here and get support and advice. Reading other peoples posts with similar situations to mine helped me so much.

Good luck guys. 
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