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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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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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In Debt and Wannabe Debt Free? First Steps!
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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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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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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Debt-Free Wannabe Sticky - Provit & Statute Barred Letters, Defaults, 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) Is your debt statute barred ? template letters here :…
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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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debt free wannabe (huge financial family mess)
Hello, I have this MASSIVE family financial issue and I am not sure how to resolve it. Help, please! My husband has no income as his two business are not producing any profit (and they never had since 3.5 years ago, when he started them). My income is good, but not enough to support a high mortgage and a family of 4 (2…
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Statute barred?
Hi all, hope someone can help! I am working through my debts but I have 3 old debts that dropped off my credit file in October2023, however Lowell are chasing me for these debts, they have written to me over the years but I have never responded but would like to know my legal position as regards to if I have to pay these…
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13.5k credit card debt = stress
I stupidly let my credit cards spiral and I am now so stressed and angry at myself as I don’t have much spare money .. I’m looking for advice on the quickest and easiest way to get them paid off.
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Some help please on my debts - Credit Report doesn't show "date of default"
Hi All Hope you're all well Up to about 2018 we were in a Debt Spiral, over 75k as a couple, mostly C/c's, some bank overdrafts From early 2019 we set up time-to-pay arrangements, closed all c/c's / overdrafts, and have been living month-to-month with about £15 a month going to various Creditors. I have checked my "Your…
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Monthly car insurance payments whilst on a DMP?
Hi, Does anyone know if it's easy to pay for car insurance monthly if you are on a DMP?
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Income and expediture
Hi all - I am trying to arrange a reasonable payment plan, this exercises are quite difficult to judge as realistically many spends are adjustable, what is the best tactic to have a largest options of payment plans available? Is it to leave just the amount you want to offer per month or something else? Many thanks
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Avalanche method?
Hello, newbie here.. I have two CCs I want to pay off and can’t decide whether to avalanche, whereby you pay off the one with highest interest rate, or just tackle the biggest debt. The one with the higher interest rate is currently just under £2k. The one with the lower interest rate is just over £4k. I really want to…
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Last chance saloon before insolvency.
Hi everyone, I have been a very long time Lurker on this forum, and have used it for guidance and advice when I have had previous half-hearted attempts at sorting out our debt problems. today, for the first time ever I have sat down and I’ve completed an SOA. It doesn’t make for pleasant reading but I keep reminding myself…
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How to check defaults?
As anyone who has read my posts (bad luck) i am managing numerous credit card and loan debts and awaiting them to default i do find the various letters quite confusing and even misleading, is there any way to check whether you have defaulted…i realise credit files are a good place to start but the free ones seem to be…
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Income on the side
Hi all. Ive been looking to pay down a loan before march 2025. To do this ive been looking at ways to supplement my income by playing paid to play games, surveys etc, but the returns are miniscule in comparison to the time invested. Im looking to increase my side hustles to help me achieve my goals quicker but i dont see…
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Payment plans
I am arranging a payment plan with Barclays. The only long term option they have is a payment plan, they say it’s not a default on the credit file. In reality is a payment plan and a default the same thing ? Or is one “better” than the other? Thanks
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Desperate advice/help needed
Hi All, I really need you help. Since covid as many others we have been struggling financially. Will try to cut long story short if possible. 18 months ago I became disabled and my partner had to quit work to become my carer. I have been able to still work full time which I'm so grateful for. However losing my partners…
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Can American Express continue to do this?
I wrote a letter to American Express back in January of this year regarding my very difficult financial situation. The letter included my budget document from Step Change. I never got any response from them but instead continued to receive letters as though they hadn't heard anything from me. I then sent two additional…
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Debt busting ideas. Track your "didn't spend", not just your spends.
I mentioned this on another thread earlier, and a couple of people seemed to like the idea, so I thought I'd post a general thread on my idea, and hope that it can help people bust their debt. As well as keeping a spending diary, to track every penny...also keep a "didn't spend" diary. So, every time you stop and think and…
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About to begin a DMP with £53k of debt.
Hi everyone, I posted a thread a few months back discussing my financial difficulties and the solution was to hammer my credit cards before the interest periods started. Whilst I have tried to do that, our mortgage has now gone up an additional £300 a month and we have had to replace our car. The interest free periods are…
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Outstanding balance
Hi all, I am hoping I can get some advice please i received a letter from Lowell saying I owe T-Mobile 20.87 they say they will keep writing to me, calling or pass my details to a third party collection agency i I haven’t been in contact with T-Mobile since 2013 weren’t even sure about any outstanding balance Is it the…
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Monthly car insurance payments whilst on DMP
Hi, Does anyone know if it's easy to pay for car insurance monthly if you are on a DMP?
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Is it time for a DMP or try to ride the storm?
Hi all, Just looking for some advice regarding my situation really. I haven't posted here before, but have regularly read the different threads and have found them very helpful. My situation is as follows: - I have been in debt of some kind since around 19 years old and have never been debt-free since this point. - Current…
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DRO and business debts
If someone is a "one person band" type business and they shut that business down completely can their business debts be included in a DRO? So no incorporation, or anything fancy just one person doing business work, previously been keeping their money separate but the business isn't viable and their financial life is a bit…
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Just looking for some clarity on DMPs
Hi, I’ve been sifting through so many threads to try and understand the best way forward for me with my 50k plus debt across 3 unsecured loans and overdrafts. So, I don’t own my house is in my husbands name and he’s always paid the mortgage. I have paid the odd fuel bill and the council tax which I’ve been told means that…