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DMP mutual support thread part 13 !!
Welcome to the DMP mutual support thread Part 13 !! Here you can find help in starting and running your DMP, self managed, Stepchange, Payplan and any other DMP all welcome here, but we do encourage you to use a free service, not one you pay for. There is help on getting interest and charges stopped, how to start with an…
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Struggling with debt? Ask a stepchange debt adviser a question
If you need help with your debts, this is the thread for you. This is a new thread, as the old one was getting a tad long. Trained advisers from StepChange Debt Charity are here and waiting to answer your debt questions. They're a friendly bunch so please don't be shy! There are three ways to get in touch: 1 - Simply post…
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Charging Order? The myth
I feel that this is so important that I thought a new thread should be made to highlight the importance of understanding the law on Charging Orders and how many people are stuck with their property in the false believe that they have had a Charging Order put on their property. In particular the thousands of Northern Rock…
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The Debt Free Roll Of Honour
Update December 2018. We started this Debt Free Roll of Honour back in 2006 and since then there have been some fabulously inspiring stories, which you'll see if you read below. To read the most recent debt-free announcements click the double arrow above to head to the last page of the discussion Back to Martin's original…
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NEW POSTERS LOOKING FOR DEBT ADVICE - READ HERE FIRST BEFORE POSTING ANYTHING !!!!!
People post on this board looking for advice on many different debt topics. However its sometimes difficult to post in the right place, so, if you are wanting general advice from our panel of regulars on your debt issues, and how to go about solving them, you create a new thread using the big red "create new" button, top…
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Reclaiming money back from various payday loan companies
Hi all just wanted to share some good news regarding payday loan companies..... From early 2011 until mid 2014 I too was caught in the payday loan trap, all my own fault may I add, I borrow the money and in the end paid every penny back, would estimate 15000 over the years maybe 20. Early this year I saw all the news…
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In Debt and Wannabe Debt Free? first Steps to take are here, please read, then ask questions.
This thread provides guidance about some good first steps you should take if you are in debt and want to get debt-free. It doesn’t matter how big or small your debt is, or whether you are comfortably paying your debts and looking for advice on where to cut back further or struggling to cover your basic needs - we are here…
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Pls remember Debt-Free Wannabe's for support and help not judgement
Martin (Lewis) made the following announcement a few years back. But the link in the stickies is broken. Anyhow, here is what Martin said: "Dear Money savers..... Debt Free Wannabe is one of my favorite boards on this site. It's also one which runs a delicate balance. Many people who have serious debts have hidden them for…
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DFW Sticky-Provit/Statute Barred Letters, Defaults, Mental Health Help and Guidance, all here.
Debt-Free Wannabe Sticky - Please read for links to important topics and help Hi folks :) This is the Debt-Free Wannabe Sticky where links to all current important tools and information will be posted. Links: (1) Those who are new to debt, and want to know where to start, check out these first steps :…
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Statute barred debts and the Limitation Act
Statute barred debts and the Limitation Act Statute Barred debts. A debt will be "Statute Barred" if there has been no acknowledgement of the debt by you making a payment or in writing within the relevant limitation period. The debt would then be legally UNENFORCEABLE, unless the creditor has already taken legal action…
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AP, then defaulting
I'm exploring a tactic: Breathing space Setting up DMP via Stepchange If interest and charges are not frozen by the creditors, self managing and then defaulting What I would like to know is if anyone has experience of deploying this sequence (or similar), either accidentally or on purpose. As per my original thread, my…
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Self managed DMP? Need advice
Hi I'm feeling very stressed at the moment. I have 25k unsecured debt and at the moment I'm just about managing to pay them with nothing left at end of month. In June next year my widowed parent allowance stops so I lose 720 income so then I will not be able to manage. I have one or two missed payments and an arrangement…
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When is debt a reasonable position to be in or does context affect ideal pace of repayment
When I met my partner, I had a well paid job and a flat in a popular city. When the relationship drew to a close I had barely more than the clothes I stood up in. I got into debt to do a masters which I gained with distinction and in the months before my 50th birthday I got a very well paid job off the back of that…
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Things Got Worse - Struggling with priority debts and scared to lose my house
Hi everyone, I posted here before about my credit card debts and got a lot of help. My situation has changed so much that I thought it would be better to start a new thread as the old thread was getting too long.. The strange thing is that the old credit card debts are now the least of my worries. Following the advice I…
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New unknown debt- not sure.
18 months ago I started an IVA, and assumed all my debts were on it. Nothing on credit record left out so as far as I'm aware the iva covers everything. Then had an text at the start of last week out of the blue from a company called Opos. Told me I had a debt and to call a number. Assumed it was a scam and moved on. Then…
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I just wanted to say how proud of us I am.
We had massive debts - about 60K around 2.5 years ago - Managed to get it all but 3K on 0% interest free for 30-36 months and now we are down to 6K with 18 months to go.. Paying off about 2.5-3K a month so won't be long. We are not struggling either - suprised how much we have to clear the bills and I even manage to still…
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Dmp advice
Hi im new here and dont no how to do a post to get dmp advice
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Advice for SOA
How do I get an accurate SOA? This is the recent result and it is sooooo far off correct. On a good month I get to around 10 days from payday before I'm using the credit card for basics. With the buildings insurance (arrives Dec) and water rates (Mar and Sept), I pay on receipt. Currently by using C/C, which I want to…
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Debt Recovery letter - DCBL / POP Telecom
Hello, I previously had my broadband through Pop Telcom (avoid them at all costs, FYI). I gave the required notice, ended my contract, and even paid £79 for a unreturned equipment fee. The last correspondence from them I had was from July and was an invoice for the unreturned equipment fee, which was taken out by direct…
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Advice on making settlement offers to 3rd parties
Hello! I have 4 individual debts that were sold to 3rd parties by the original lenders several years ago. I have submitted CCAs, and unforunately, they were all able to provide the signed credit agreements (I don't feel too bitter though because I did get lucky with quite a few of my other debts!). None of these debts were…
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Stepchange help
Hi everyone, I have a couple of questions before finalising my dmp with Stepchange. I have now had 2 of 6 accounts default. Do I still continue to not pay until they all have? Also I have a joint account with my ex that joint bills come out of. Do I need to get rid of this? Existing mortgage comes out of this account and…
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DMP questions - would appreciate some help!
Hello, First time posting and looking for some help to figure out resolving the situation I’m in. For starters, I have 168k in unsecured debt, and owe a family member 19k. I have a high income (£5105 PM) but the debt is currently unserviceable due to high interest. I have run a StepChange calculator for a DMP based on…
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Advice on old/current debt. Out the blue.
So i have received the letter below as 1 of 2, personal Credit card and a seperate one more or less identical for a personal loan. Looking for some solid advice on how to proceed. Just received them and do not want to leave something too late. Background info :- IT Contractor. * Had accident in August 2018 was ill for a…
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Debt advice help
I have approx 220k of CC and unsecured loans + a large mortgage. Most cards are no longer on 0%. My house has equity of c. £600k+ I earn just enough to pay the debt interest, but not to cover monthly expenses. I would like to avoid DMP or Bankruptcy as this will impact my ability to get Credit and presumably could result…
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Thoughts on Nationwide / Virgin money merger
Hi, I am currently managing my debt via a DMP. One of the debts is to a virgin money credit card. My salary is paid in to a nationwide current account. My wife and I also have a joint account with nationwide that we use for our day to day spending. Now I know that nationwide said they wouldn't enforce their right of set…
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Defaulting before DMP
Hi all I have found this forum so helpful so thank you in advance. After a lot of consideration we are planning to enter into a DMP with Stepchange. IVA is not suitable for us as we owe too much so creditors unlikely to accept the small payment we can make. Bankruptcy was an option but with the cost of rent in our area…
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Pay off large Sum, but then be Part-Satisfied
Hi all - I have a debt of £5,900 on a credit card (now with Cabot), that has already defaulted, so has already done the damage on my credit report. I now have £2,750 that am I able to pay off, and I want to go to Cabot and offer this amount as a settlement. Firstly, what are the changes they'll accept this amount do you…
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Reached end of the road - 54k debt
I've posted here numerous times over the years when in some sort of debt crisis or another, but feel like I've hit the end of the road. I earn 42k a year and I'm in debt to around 55k a year. My debts are currently as follows, Credit Cards and Loans Virgin1 - 1404 (Interest free for another 16 months) M&S - 2501 (Interest…
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AIC CCA Requset Reply
Hi all, I have been doing my self managed DMP now since last year for around 54k in debt. Mostly cards but 1 loan also. I have got to the point where they have all defaulted me, passed them to debt collectors and been paying £10 a month. I have now written to them all to request CCA's sending the standard letter. The first…
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Question about defaults / starting the DMP
Hello, This month I am going to stop making payments against my unsecured debts (£8k), in order for them to default over the next 3-6 months, so I can then start a DMP. I have 5 creditors and I expect they will default at different times. Could you advise what I should do after the first creditors have defaulted, whilst I…
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