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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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£15k default passed from cabot to Mortimer Clarke - when to send prove it letter?
Hi all, Bit of a two pronged question here. I accrued a number of debts in 2024 and followed this forum's advice to let them all default. I have been ignoring all attempts at contact in the hope of riding it out for more agreeable settlement offers or making it to statute barred status. One of the larger debts (approx…
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End of the road Considering self-managed DMP – CAB advice vs waiting for defaults?
Hi everyone, I’ve spent quite a bit of time reading through the DMP threads on here and they’ve been incredibly helpful and reassuring, particularly hearing from people who have actually been through the process. I’m hoping for some views on my situation and, particularly, the period between stopping payments and actually…
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(Small) UK debt after leaving UK
Hi everyone! I know this is a usual conversation and the consensus is often to just let it be but I’m in a slight different situation that what I’ve seen answered on here before. I have left the UK after a decade there, I’m a French national, and I have outstanding debt on my MonzoFlex account. Out of the £5000 limit I owe…
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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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Clearing overdraft with credit card, switching to close account before DMP
Hi all, Just wondering if it would be worth clearing an overdraft with a credit card, using the switch service to close the account to another overdrawn account, clearing that with a credit card and switching to another overdrawn current? I have clean bank accounts with banks I don't owe to so day to day money is safe that…
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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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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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Urgent Debt Advice
Hi all, new here so thanks for accepting. I am looking for advice please. I have around 35k debt and looking for best advice to clear. I am working full time and have no assets (no car I own or house. I live with partner and have a baby. The house is a mortgage in my partners name only and I just contribute towards bills…
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How do I know when a debt has been sold?
I received my first default a couple of weeks ago and since I’ve received letters from Opos with wording like “our client” “acting on behalf of” we’ll have to return your account” Does this sound like the debt has been sold or the collections are still in house? Do creditors have to advise you if a debt has been sold? Is…
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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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Full and Final Settlement - Link Financial
I have managed to settle all of my accounts over the last 6 months through negotiation even a mainstream original lender with the exception of one debt with Link Financial. Despite numerous offers they have countered with a figure which only represents minimal discount way off what my other creditors settled on. When I…
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Which Debt to Default on
Hello, I have 4 credit debts totalling £12k, 3 loans £18k. So I was
made redundant earlier on the year and been behind the payments and recently
secured a 6 month temp role on a much lesser pay. The current arrears and minimum payment is equivalent to my
monthly pay minus the basic expense like food, travel,…
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Thinking of a DMP
Hiya, I have come across this forum and it is so helpful and reassuring. I have around £70k of credit card and personal loan debt (my husband lost his job 4 years ago). Mentally and due to some physical issues he has only been able to return to work part time and earns a third of what he did previously. Add to that the…
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Help with defaulting debts
This discussion was created from comments split from: DMP mutual support thread part 13 !!.
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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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Token Payments Ending - Worried about what happens next
Last year I went to StepChange and they set up a token payment plan of £1 per debt on my plan, and that has gone well despite still receiving letters almost every day from numerous debt collection places (Lowell etc) but this plan is coming to an end in October, apparently that's the maximum length of time it can run for.…
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Overdraft on DMP not defaulting
Hi all, I'm in a bit of Limbo between Stepchange who are managing my Debt Management Plan (DMP) and Lloyds (who I have an overdraft with) and neither are able to advise in way that feels helpful (though those Background: Started a DMP a few years ago with Stepchange, which included a loan, 4 credit cards, and an overdraft…
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CCSCollect email
hi all, I’m in the process of letting my debts default. I’ve not had any default notices from sky who I purchased a phone and iPad from, but I’ve had an email from a CCSCollect saying sky has passed their account to them. They’re asking for me to set up a payment of 2 missed payments. Do I still ignore to let default?
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Resolvecall letter
Hi all, This morning I received a letter from Resolvecall, apparently they've taken over a Capquest thing for me and they're going to attend my address if I don't contact them. The debt (Capital One) they're talking about is probably over 10 years old. I've had a Capital One account since with no problem and the balance…
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Self Managed DMP and HP Agreement Question
So I am cozily in my self managed DMP, making a savings pot and all priority bills up to date. I currently have a HP agreement (which has just over 2 years to run) for a Hyundai i10 - which I use as a runabout. Stepchange were happy for me to keep and continue with this (when I was with them) I guess my roundabout question…
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