2024... Debt no more🤘

Sarahwithlove

Agreed sometimes family moments need to come first. Are you doing the dmp yourself or via stepchange? Make sure you only make payments you can afford. I wouldn't worry about how long debt takes to pay as if you are able to save up a small amount for an offer most will accept a reduced offer. Still early days whilst you wait for default but something to bare in mind for future. 

WhiteBunny

Cherryfudge and Sarahwithlove - thank you for your comments. I am doing a self managed dmp and all but the two loans have defaulted - Bamboo and Lendable - I have been in an arrangement with them at large amounts (which they have told me is the lowest they will accept) which I know now was the wrong thing to do and so will let them default.
I have now chosen different tarrifs for gas and electric, and will prepare a new budget based on expected increases in rent, council tax etc. I will then be in a better position re my offer of payment.
I do agree with playing the long game whilst saving for settlements which will hopefully bring all this to an end sooner than expected - currently 6 years 😱, until then it will just keep rolling in the background of my life, rather than taking centre stage.

Sarahwithlove

Yes definitely make sure you allow for everything when you prepare a budget for yourself. Because the less you pay them the more you can save and more chance you have of an offer. 

WhiteBunny

Budget prepared and although I've put money in the budget for the two non defaults, I won't be paying against these until they default and move onto debt collector. Overall I have around an extra £80 per month to save. Feeling better now I've done it.
Off to see step-grandson at the weekend, I can't wait.
Christmas 🎄 is up, lights are out and twinkling.
I'm getting the decluttering bug again. I started on the kitchen yesterday but had a full day of work today. Will continue tomorrow.

WhiteBunny

Had work today, but off tomorrow - bits to sort out before I see the little lad on Sunday. He arrived into the world today ❤️. I've cancelled standing orders for bamboo and Lendable - they will need to default me before further payment. I'll contact all others in due course with my revised offer.

Cherryfudge

Enjoy your visit to the latest arrival! It's a very special occasion so cherish it.  

It seems sensible to me to make a repayment arrangement then let it tick along rather than dominating more of your life than is necessary.

peb

With Bamboo and Lendable is it worth looking at an unaffordable lending complaint?  I suggest searching on the main debt free board as I'm sure these companies have come up.

WhiteBunny

Hi Cherryfudge - definitely. I did nip into town today to buy him something else... Found a lovely little elf Christmas tree decoration with his name on - was only a couple of quid so I had to buy it ☺️.
Hey peb - have done the unaffordable lending complaints - neither were upheld. I've played it their way, but it's not sustainable so will wait for further contact.

WhiteBunny

Hairy drive down to Devon yesterday but wow, totally worth it. My grandson is gorgeous ❤️

KeepOnKnitting

Congratulations!