Statutory Legal Audit Plan (Debt solutions)

fatbelly

OP your plan is fine

But you only need a new bank account if you are banking where you have debts. I think you are ok with hsbc but don't let me stop you going for a new one if you want the sweetener deals

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/

michaelyallop

stu12345_2 said:

on a side note about cars, once your debt free, based on your wages, you could probably pay cash for a nearly new car via saving up for a year.

paying off newish or new cars with loans have been our downfall, myself and wife had 2 cars, £12000 each on loans, we sold them, cleared finance and bought a £1000 car cash on eBay, it is still going strong after 2.5 yrs.

if it had a major fault, we would scrap it for £200 and buy another £1000 car.

I walk to work now, I realise having a newish car on credit and it's outgoings means your salary isn't your take home wage in reality.


thus I only take on jobs that I can walk to.i don't live in a village, but in a large town with job opportunities.

it's a lovely feeling having a 10 min walk to work.

(and we put claims in for dealer commission scandal, we had that many cars on dealer loans over last few years, the dealers have said to us we did pay overcharged commission, let's see what the national high court case outcome is in September, it could then result in a few grand back to us)

(do any of your previous cars have unfair dealer commission or were they always with bank or family loans)

I really wish I could walk/bike to work. I am a paramedic. And I need to get to work in various different locations. 40 miles there 40 miles back.  So it’s a little tough. I’ve had a number of different issues with cars in the past, hence buying a car that has less miles and a bigger price tag. 🫤

I have had cheaper cars that have lasted. But also cheaper cars that have not. And due to the fact I don’t get sick pay, I can’t take the risk of it breaking down. 

All previous cars have been bank loans. And I wish they didn’t all have issues I’ve had. It’s like a feature film the issues I’ve had. 

Selling the car was a thought I’d had. But it’s the only sure way of getting to work on time. 

michaelyallop

fatbelly said:

OP your plan is fine

But you only need a new bank account if you are banking where you have debts. I think you are ok with hsbc but don't let me stop you going for a new one if you want the sweetener deals

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/

Thanks. I already had the Monzo account. It was the bank I was going to move to anyway. 

So default is the way forward? 

Thanks 

Grumpelstiltskin

You say you don't get sick pay, why?

You should get this.
Statutory Sick Pay (SSP) : Overview - GOV.UK (www.gov.uk)

stu12345_2

save up whilst , only paying overdraft and family
get defaults on the rest.

suprised the NHS job allows an employee to live that distance. my old jobs I had to drive to had rules staff must live within say 40 mins commute of job to be alert for the long shift, it were critical driving positions., you see

yes why no  statutory sick pay,, your not self employed 

michaelyallop

Yeah. Statutory. But that doesn’t go far these days. Doesn’t even cover my rent, let aloan my council tax or energy bills. Hence the sickness insurance which will give me 1200 pound if I’m off sick. 

Grumpelstiltskin said:

You say you don't get sick pay, why?

You should get this.
Statutory Sick Pay (SSP) : Overview - GOV.UK (www.gov.uk)

michaelyallop

stu12345_2 said:

save up whilst , only paying overdraft and family
get defaults on the rest.

suprised the NHS job allows an employee to live that distance. my old jobs I had to drive to had rules staff must live within say 40 mins commute of job to be alert for the long shift, it were critical driving positions., you see

yes why no  statutory sick pay,, your not self employed 

Great. Thank you for your assistance. You guys have been a great help so far in with my debt anxiety. 

sourcrates

Just keep in mind there are statutory solutions to debt, that most if not all creditors will work with.

Anyone claiming to be able to do miracles and write off your debt for a hefty fee is out to scam you 100%.

stu12345_2

when on SSP you can get universal credit which will go to paying your rent, yours isn't excessive and you can also claim council tax help.

I think your private sickness insurance is a waste of money tbh
 as even  many folk on the dole manage ok. without private health insurance.

obviously your debts won't be paid, but all your basic needs will, housing, council tax, basic living costs

yes as sourcrates says many  debt solutions and debt legislation  are free, except bankruptcy which is a £680 one off fee

and never go down the IVA route it has hidden costs which are huge

many debt legislation  rules only costs the price of a stamp and a hand written letter by you

if you follow our debt plan, don't get stressed if you get a few months of letters, texts, even calls from creditors, do not engage at all. it's all a standard process the creditors are doing

some folk do reply to creditors and offer a small payment, all that does is slow down the defaulting process!!!

some folk fold thinking they have to pay their usual amount and end up doing so , leaving no money for rent or food.

it's only simple consumer debt, it isn't court fines as such, 

creditors have no power before it defaults.
only power is potentially a few years down the line if it's defaulted, youve offered nothing, never spoke to them.
it's only then a few, very few may consider a ccj application. 
 even then you can deal with even that at that point, but you will not have that problem, your plan is sound, standard and regularly used.

so let them give up and default you, then engage with them.

luck isn't involved, it's preplanning and the application of that plan that will work.
so I won't say good luck, as luck is not involved 
cheers

write in again to say how your plan is going please 

Floss

michaelyallop said:

Yeah. Statutory. But that doesn’t go far these days. Doesn’t even cover my rent, let aloan my council tax or energy bills. Hence the sickness insurance which will give me 1200 pound if I’m off sick. 

Grumpelstiltskin said:

You say you don't get sick pay, why?

You should get this.
Statutory Sick Pay (SSP) : Overview - GOV.UK (www.gov.uk)

I take it you don't work direct for an NHS trust then?