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Email stating Court action imminent
Hi, I stopped paying my debts late last year. All my accounts have defaulted and I have been paying £20 per month on the same date to credit cards and £35 per month to loans to clear £38k debt. (including these two companies mentioned) I have never contact my creditors other than by email to say what I would be paying and…
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17 year old CCJ
So years ago we got into a lot of debt and in 2009 Northern Rock PLC got a CCJ against us. In 2015 we entered into an IVA but the next year it failed (they were taking all the money for themselves and only paying each creditor a few pounds each) so slowly each debtor came back to us and they were much more amicable and…
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Move PCP to 0% Credit Card?
I have overpaid my PCP as much as I can with the pop company. £75 a month interest is the minimum I can leave it at with a £9750 balloon due Sept 2029, 9.9% APR. Settlement figure £9850. I have Lloyds Card £15k limit with an offer of 5.9% No Fee Money Transfer. I am tempted to move 10k to my bank account, pay off PCP and…
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Self managed DMP advice
Hello, Wish I had found this site before but we learn! I’ve been in a DMP since December after panicking and going with a managed company who charge £50 a month. I’m now feeling much clearer after having time to really review my options and would like to go self managed however the company are warning that the chances of a…
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Cabot review
Cabot have contacted me after 12 months of pro rata payments. They are asking for a review. Albeit my occupational pension did get a slight increase, the cost of living increases soon negated it. Not to mention my social landlord installed an air source heat pump and removed my oil-fired boiler. That has seen a big…
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Token payments or stop payments completely??
After reading advice here, I have stopped all direct debits to my creditors, to allow my debts to default, before entering a dmp. Should I stop paying completely, or make token payments? Thank you
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Lendable and DMP
Hi Everyone! I have lurked on here for some time and managed to get some fantastic advice. Bit of background (as brief as possible): Got into lots of financial trouble because of a failed business back in 2022. Had a loan from Lendable at the time and because of the amount of debt I was in (over £30,000) I moved to a DMP…
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Creditors'/County Court's Verification of Income and Expenditure (I&E)
Good afternoon, With collection activity on some recently defaulted unsecured loans and credit cards ramping up, including by certain in-house solicitors, I'd be grateful for any advice on the best way to deal with creditors who are likely to be peeved by the small amounts presently available for large debts. I need to…
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Brecon Debt Recovery emails
For the last 2 days I’ve received emails from Brecon Debt Revovery which appear to be Next’s debt collection department. I know to ignore emails, and anything 8mportant will come by post, I guess my question is regarding write off request. My next account is in a previous surname and they’ve said via CAB that I need to…
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Can I do can credit swap for PayPal credit - interest rates
hey! I’m about 1150 in debt with PayPal credit, it’s not a lot but it’s stressing me out how much interest there is now. I can’t afford more than the min payment of £50 ish per month currently but can pay off more later in the year. My question is can I do a 0% balance transfer to another credit card? Because the amount is…
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In need of some advice - SOA attached
Hi all, I’m looking for some advice on how to finally tackle my mounting debt and get things under control before it gets any worse. I feel like I spend all of my wages on paying off debt and nothing seems to change. We are a family of 4 (1 adult child and 1 teenager) and myself and my husband work full-time. Any advice…
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Balance transfer mistake and debt problem.
I’m autistic and struggle with things like this. but I was moving some debt around to give me longer to pay as I had a strategy in place to get last my debt, paid by January. I have £1800 on a 36 month 0% interest purchase on a Lloyds credit card this expires in October . I’ve accidentally made a balance transfer from…
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Barclays default report says up to date
Hi, In March I received a default notice regarding my Barclaycard and have heard nothing since. On checking both TransUnion and Experian, it lists the 4 missed payments from November to February and lists a payment made in March. Neither is the default listed on the agencies. I didn’t make a payment so am I right to assume…
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Credit card debt
Hi Long story short, I had an awful gambling habit that spiralled out of control, I’m now 5 years clean but the debt I amassed on credit cards have now got too much, it’s at about 50k. I’ve managed to completely turn my life around lost weight and starting running. I stopped paying the cards in roughly October which were…
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What to do…
I’m in approx 70k of debt. I have been looking at a dmp and have mentioned this to my partner, however she is not keen. She thinks it may affect my position in regard to an opportunity with the company I work with. The risk as far as I can see it is if I get credit checked however that won’t be pretty without a dmp if…
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Lendable Debt Payment
Hi All, I currently owe £3400ish to Lendable. I probably made quite a few mistakes with my approach with them. The original agreement was £110 but due to circumstances I wasn't able to maintain that past the first few months. I've been paying them £36.66 per month for the past 4 or so years with no interest as agreed by…
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Difficulty after clearing debt
I’ve managed to clear a lot of my debt and get it down to a manageable level but for the last eight months I’ve been working stupid unhealthy amounts of overtime to make it happen. and I’m finding it difficult to get out of the mindset of I don’t need to keep doing it .
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Debt help… DMP?
Hello, I’m new here, but I’ve been doing a lot of reading while I was waiting for my account to be approved. I’ve got myself in a real financial mess. This is not the first time. I was married to a man who was financially controlling and I ended up in about 20k of credit card debt. After we separated and sold our house, I…
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Self DMP - first steps
I’m going to do a self DMP. I have been deliberating this for months but think it is finally time after having to continuously borrow to keep up with debts. I am currently not behind with any payments at present. I’m currently at about £36,000 in debt across numerous loans (1 x Plata, 4 x Zopa, 1 x Lendable), 3 credit…
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Persistent debts built up, 0% periods ending on cards mean its unaffordable - DMP
Good evening folks, I did post in the DMP thread but figured this is possibly worth having my own thread for, so here goes. This month is when I finally stepped back and took stock of my financial situation. Total unsecured debt is circa 70k across a couple of loans and numerous credit cards. I've been managing fine until…
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