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  • CopleyDog
    CopleyDog Posts: 24 Forumite
    efes_shareholder wrote: »
    I would contact one of the lower debts at a time , I did this and obtained discounts of around 50% to settle in full

    I've contacted MBNA, NewDay (Aqua and Marbles) and Wizzcash with some lo-ball settlement offers so we'll see what happens. Worst case is they say no, but nothing ventured - nothing gained! I've also asked if they'd be willing to forgive interest/fees that have accumulated. Let's see what happens....
  • CopleyDog
    CopleyDog Posts: 24 Forumite
    Update: I have agreed a settlement with Link Financial (acting on behalf of the Co-Op/Smile Bank) for £400, a discount of 25%. They have said I can pay this on my next Payday which is great news, another creditor scrubbed off of my list and £136.66 written off!
  • efes_shareholder
    efes_shareholder Posts: 1,899 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Well done on the savings , If you don't ask the answer will always be NO
  • CopleyDog
    CopleyDog Posts: 24 Forumite
    efes_shareholder wrote: »
    Well done on the savings , If you don't ask the answer will always be NO

    Thank You :-)

    I'm loving Resolver, such a great idea. Just fired off emails to SafetyNet Credit (via Resolver)and MyKredit (not on Resolver so old-school email) regarding irresponsible lending. Watch this space...
  • efes_shareholder
    efes_shareholder Posts: 1,899 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I haven't tried this , what is the process with it
  • CopleyDog
    CopleyDog Posts: 24 Forumite
    It's a great website that let's you raise complaints and keep track of responses etc, almost like a helpdesk style ticketing system.
  • Lucifa73
    Lucifa73 Posts: 7,726 Forumite
    Part of the Furniture Combo Breaker
    Hi CopleyDog.

    Have you used the snowball calculator to work out the most efficient order of repayment? Unless these are agreed, fixed balances with no interest accruing, in which case I would get rid of the smallest ones first as it can be really motivating to see the number of creditors drop away.

    Another thing to do is to look at the £1100 or so you have after the mandated payments and see if you squeeze a little extra out of this for debt busting to bring your debt free date closer.

    Good luck - I hope you get clear as soon as possible.
    26.2.19/14.1.19: T MC 3629.26/3629.26 : VM 0% 1050/13876.59 : W 0% 100/1485 = 4409.26/18990.85 =25.17%
    28.1.19/28.1.19 Hubs 0% £400/£2,977 =13.44%
    SPC 2019 #073
    My debt free diary


  • CopleyDog
    CopleyDog Posts: 24 Forumite
    Agreed with Link Financial to settle in full for £400, a 25% discount on the debt outstanding. This was originally an overdraft debt owed to Smile (Co-Op), for which I am still raising an irresponsible lending complaint as I don't fee it should have been provided to me given my financial circumstances at that time.
  • Chrystal
    Chrystal Posts: 2,031 Forumite
    Ninth Anniversary 1,000 Posts Photogenic Name Dropper
    Just to wish you well and say Congratulations on being so organised! (My head's in a whirl just reading it, never mind sorting it out :eek:)

    I'm sure that with the right mindset, which you now seem to have, you'll soon have a plan in place which will allow you to have peace of mind while you pay off your debts.

    The only thing I would say is to try and build an emergency fund whilst you're paying it off, nothing worse than unexpected expenses throwing you off track..

    Subscribing to your thread to give encouragement :)
    I Believe.....
    That it isn't always enough, to be forgiven by others.
    Sometimes, you have to learn to forgive yourself.

    Yesterday is history, tomorrow is a mystery
    Today is a gift. That's why it is called the present.

    happiness isn't achieved by getting extra things,
    but by getting rid of the things that make you unhappy
  • CopleyDog
    CopleyDog Posts: 24 Forumite
    Thanks, Chrystal :-)

    A little bit is being squirrelled away each month for those rainy days.

    Focusing on these debts (and reducing them!) is taking my mind off of the gambling addiction that is at the root of this whole mess. If anyone is interested in the back story, I'm happy to share more details. I'm now 4 weeks 'clean' and putting all of my energy into this.
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