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DMP for £60k worth of debt...ready to tackle this!
Hi Everyone – long time lurker about to embark on my self-managed
DMP journey. The main point of my post is to explain how I’m going to go about this, for you
guys to tell me if there’s something I can do better or in a different way and
questions that I have. Are their any tips you may have to help this all go smoother? I…
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Mortgage questions and debt management plans
I've recently completed a debt management plan, paying off close to £65k over the last 5 years, and I've been looking at the possibility of a mortgage rather than continuing to pay rent. I'm 53, so time is not on my side. I've got approx. £10k deposit available right now, and I started looking at mortgage options, but I am…
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Help please if possible many thanks
Hi all - I am new to this site and would like some advice if possible. I will try to set to provide the headline and my question: Due to a gambling addiction that has recently been acted on I have unsecured credit card debt. I want to pay it all back but need the interest frozen to enable to do so. Min payments have been…
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Help with sale of house funds
Hi everyone, I'm looking for a wee bit help please. My mum recently had to sell her house due to her finances and she is now in a emergency accommodation.She has a little money left from sale of house and wants to clear her debt with it. Council tax and energy are completely up to date but she has a large amount with…
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Newlyn Notice of Enforcement for Mother in law
Hello, I'm hoping someone can help advise on this. My mother in law went into a care home in April 2016. the home she shared with her estranged husband was sold the following year. He has since died. We didn't deal with house sale or any bills. Myself and my husband have an LPA for her. Completely out of the blue a letter…
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Default on credit file
Hello I’m in a bit of a confusion with welsh water, I rented a property and always paid the bills there no problem but when I moved out in august 2021 it was a bit hectic for me. Apparently I did view the last bill online but I never paid it, they showed proof I viewed it in mid august 2021 and I get paid end of the month…
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Opos
Hello apologies if I’m not posting this in the right place. I received a letter today from Opos saying that they have been trying to contact me regarding a debt to RBS for a credit card outstanding balance of £360. They have contacted once me a couple of months back to inform me that they’d taken on a debt but I did not…
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Debt questions around DMP
Hi All, I've had a good read on the forums and feel more clued up on what I need to be doing, so thanks for the knowledge shared. I do have a few questions though if some kind soul could help with. 1) I see most saying run your own DMP rather than someone else and understand why regarding defaults/building funds and…
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CapQuest & Resolut
So on April the 5th 2024, I received a knock on my door. An agent from Resolut working on behalf of CapQuest. The funny thing is the debt they're seeking to collect was already paid in full in 2015. A debt collection agency came after my Littlewoods/Very debt 3 months before the 6 year limit was reached. Having already…
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Debt advice IVA or DMP
Hi newbie here just looking for some debt advice. I have a considerable amount of debt 48K across 8 lenders all unsecured credit cards, store cards and loans. I have had to give up my job to become a full time carer for my son who has a disability so my income will be heavily reduced. My son gets high rate care DLA so I…
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Spiralling with my debt
So here goes, I’m new here and have read a few threads. So starting off I’m fully maxed out on 4 credit cards ie can’t afford minimum payments, so this week stupid me has been trying to sort it but during this i applied to step change for a dmp and also breathing space, then they said i would have to add on my personal…
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DMP vs. Second Charge
I am currently in a situation, which I am quite scared about to be frank. I have never thought of ourselves as living beyond our means, but recent events would state that we have been doing it for years and now I feel trapped. I am trying to work out how to move forwards without screwing myself over further and getting in…
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Do you have a debt with Brighthouse ?
Brighthouse (Caversham finance limited) went into administration in 2022, after the rent-to-own company collapsed, the administration was managed by Grant Thornton. As part of this process, a number of client accounts were written off, resulting in them no longer having to be repaid. However a credit management company,…
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Notice of Enforcement for Slough Council from 7 Years Ago
Hello 👋 I am seeking urgent advice, Please. I have just received a letter through my post from Stanford & Green civil enforcement dated 10 May 2024. I am quite shocked by this as I have no knowledge or prior correspondence about this. It came with my old name before divorce. I left Slough Borough in early 2016 after…
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Partially Satisfied
Hi One of my creditors has written to me today telling me they will write off 80% of my balance if I pay the remainder in full by the end of may. The has not defaulted but has had late payments. If I accept this offer, what impact will it have on my credit file? I can only find information about partial settlement on…
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DFNLWs - what did you do next?
Are you one of our fantastic Debt Free No Longer Wannabes? :) For even more inspiration for our DFWs please come back here and let us know what you've done next. Are you now a Mortgage Free Wannabe using our Mortgage Guides to help clear yours? Or are you building up your savings with the help of the Best Savings accounts…
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How best to use a lump sum and going forward
So apologies for the long post but I am hoping with the info a short term and long term answer can be achieved. Initial summary is we have a lump sum of money coming(around 20k) in the next few months and I am wanting to know how best to use it that will help in the short term and also long term. Area where I could use it…
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Default all?
Hi all I am in need for some amazing advice. I have accumulated quite a bit of debt during my 20s (end of 20s now and making better financial decisions). This resulted in massive amounts going out in direct debits every month for mainly things that are on credit or credit cards. I have a car, insurance, house rent and…
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Very Old Debts Time Barred? Irresponsible lending? - Unemployed with £14k CC Debt
Hello, I am trying to help my mother out who has been going through a terrible time, including the loss of my father after several years of battling terminal cancer. Some of their finances are in a total mess and I would like to see what can be done with the debt, and I am wondering if anyone else may have an idea. There…
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The trick I used to use that was actually tricking myself
Hello everyone: Usual forewarnings apply, this thread is just for curiosity's sake, it is something I used to do and I don't suggest anybody does it because it is not a solution: When I was a student that could not or would not budget, my friends and I happened upon a way of paying our minimum payments without actually…