I think we are ready

tigergambit

@mrscxxx Welcome to the game!

Your plan sounds good. I would add a couple of things which will make administration easier:

- In addition to filing letters keep a spreadsheet summary of where you are with each creditor - dates, payment amounts, settlement offers etc. This saves a lot of time and effort and it's useful to have a progress summary.

- Prepare a second SOA which you are willing to share with creditors once they have defaulted. They will ask for this so that they can "check affordability" (yeah, right, they're so caring). What they want, of course, is to see whether they can squeeze you for more and you want to be prepared for this. This SOA should be constructed with the aim of minimising available surplus so that you can justify paying them a very small amount (which will allow you to build your emergency/settlement fund more quickly).

Good luck. Be prepared for everything to happen very slowly, just stick to your guns and all will be well.

TG

1stTimer

RE the savings question, are you on any type of benefits because I believe there are savings caps if for example you are on UC but I’m sure someone on here has more knowledge than me.

mrscxxx

Thank you for the extra advice. 

Sorry I haven't added a soa yet, been a busy few days with the kids home/work. 

No we aren't on any benefits.

A spreadsheet for an "at a glance" summary will be useful