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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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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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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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Large amount of debt and don’t know what to do
I want to post this to get some advice. I currently have about 45,000 pounds in overdraft and credit card debt. I have swapped the credit cards to zero percent. I have tried to pay back some of the overdraft money but the bank won’t pause the interest charges so I face 140 a month on one account charges and several hundred…
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Just deciding... which way round to pay these off....
Will finish paying off a credit card in Oct and I am deciding which to pay off next, realise it doesn't really matter. 1750 on a 0% until April 27 credit card 8000 on a 5.9% loan. Ive 'paid' the interest on the loan already really, but understand it will affect the final figure. Approximately 28 months left. Avalanche or…
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New To Cancelling D/D and Already Made Mistake - HELP !
Hi All , I am so glad to have found this thread .We are a couple in our late 60's .We've always paid our debt but in 2010 I had to leave the NHS to become a carer for my husband .That was the end of my career and the start of our credit card debt .Without running them up , we couldn't have survived .We went from from good…
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Unsure what to do
*I have posted on DMP post but realised here was probable better upon further reading* Good evening/morning everyone, I have never actually written anything on any of the forums before, I'm a big time lurker in lots of threads, however I really need help. My last baby is almost three years old and I haven't worked since i…
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DMP advice for newbie. Please help
Hi all, My husband & I are £41k in debt & have £4.5k in savings as we've just sold an asset. We are looking at entering into a joint DMP. The debt in my name is low (£9k) but I'm the problem spending wise (It's me who overspends) so we are looking at making it joint. StepChange suggested an IVA or DMP. The DMP seems to be…
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MSE News: Council Tax debt collection practices are changing in Wales
Council Tax debt collection in Wales will become less aggressive next year, under new rules announced by the Welsh Government today (Friday 26 September). It's a big win for MoneySavingExpert.com founder Martin Lewis and his charity the Money and Mental Health Policy Institute (MMHPI), who have been campaigning to change…
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Full &Final Debt Offer Letter Template
HI All, I am in the process of creating Full and Final settlement letters for my partner for for his 3 remaining debts. I have already requested CCAs and 2 out of the 3 have come back unenforceable - the 3rd is less than £900 balance and that is the one that is enforceable. I am going to gift him some money to clear the…
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66 month old debt advice
My wife received the attached letter from Kearns Solicitors, claiming on behalf of their client LC Asset, who are some form of Link Financial. The original debt was a £50k loan from Barclays. She defaulted on this loan in April 2020, so she is now just over 6 months away from it being statue barred. There has been no…
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Moved: Student loan income calculation
This discussion has been moved.
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Default/Debt advice
Hi All, I’ve made a real mess of my life these last few years and got myself in a financial disaster. I don’t want to go in to specifics but I have made the right steps to getting this sorted for the sake of my family, before I had all the right intentions but none of the will but that has changed now. I have about £36k…
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Please god help, 60k in debt and feeling suicidal
I have the following debts MBNA CC- 9286 MBNA Loan - 9193 Barclaycard CC -14,094.50 Natwest CC - 19,719 Virgin CC - 4811 Very - 2750 I have used up breathing space of 60 days with all of them apart from Virgin & Very who i am managing to pay £50pm each to & have not gone into bad credit with them yet The rest are in the 2…
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Debt Consolidation After Defaults – Rebuild Plan Before Remortgage
Hi all, Posting for a friend who’s trying to get their finances in order ahead of a future remortgage and would really value some advice. They currently have three defaulted accounts (one in their name, two in their partner’s), all currently unsettled. Their credit scores are poor, but they have steady long term…
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Is there a minimum payment?
Hi all, I’ve followed all the advise so far on here and 4 debts are nearly at the point of defaulting now. I was out of my depth anyway which I take full responsibility for, in the past few months my husband has also left meaning what I can now afford monthly is VERY small. So my question is once the debts are sold on if I…
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Statutory Legal Audit Plan (Debt solutions)
Has anyone heard of or had any experience with these as a debt solution? Thanks in advance.
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Help with our debts please
This discussion was created from comments split from: DMP mutual support thread part 13 !!.
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Advice to take out IVA or set up agreements with creditors ourselves
My husband and I have a total of 65000 unsecured debt ( credit loans with accrued interest and personal loans) we have a mortgage and second mortgage total of £92000. we are keeping up with all priority bills and insurance for house. But we are no longer able to keep paying all our credit cards . We have ben paying minimum…
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Any one got a magic wand
I am looking for advice Situation 50yrs old working in a supermarket £10k owed to my brother. Borrowed two years ago, I keep checking, doesnt need back. We are paying £170 a month into a savings account, currently earning 3% interest. He is happy when we reach £10k with interest, should be 2028 when we reach target. Paying…
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Is a default worse than a bunch of missed payments?
Essentially i lost my job earlier in the year which made me fall behind in my loan repayments, i now have a default notice advising me to clear the arrears (deadline a few days away) failure to do this would mean i have broken the contract which i assume means they will be put a default on my credit file. I have the…
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Statute barred debt (Credit card) from 16 years ago...
I have a statute barred debt (Credit card) from 16 years
ago. After ignoring text messages, phone calls and the occasional letter from Capquest
for many years, I recently started receiving calls and letters from ACI, who are
working on behalf of Capquest. I then received a letter from Verity, who are
working on behalf of…
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Debt arrangement scheme advice.
Hi, im new to this and have been putting off posting for some time. Im considering applying for the debt arrangement scheme as trust deeds and bankruptcy are not ideal . I work in energy advice for a well known charity. Im married and we have a mortgage and two children at home. We both work full time and both have debts,…
A place for MoneySavers to share their journeys towards debt-free living.
Forumites help each other push down their debt by setting challenges and encouraging each other to achieve their goals.
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Most recent: Splendid September's No-Spend Days Challenge! by cathybird
28 September at 11:46PM
