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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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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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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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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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DMP - Plan
Ive been in contact with stepchange who have advised DMP. None of my debts have defaulted - I have just missed my first payment I panicked with Stepchange and asked for breathing space (expires on 4th August). Stepchange are asking for further details such as wage slip with address etc...so has not been setup on DMP with…
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When to make affordability complaints in the DMP process
I have just stopped paying this month. Do I need to wait for the accounts to default or should I get on with it before that? Thx
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Stuck in unsellable shared ownership flat with rising service charges and debt – can’t see a way out
Hi everyone, I would be really grateful for any advice or perspectives, as I feel quite alone dealing with this and am struggling to see a way forward. I earn a relatively good income (circa £80k per year in central london) and historically had no debt. However, since around 2020 things have gone wrong. Following a period…
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How to check status of debt
Hi, we're starting a Self managed DMP and we're confused about one of the debts. We had a letter in December asking for the full amount to be paid but after that we've jusy had letter asking us to contact them and a letter from Wescot to say the debt has been transferred to them but as far as I can see we've not had a…
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Full and Final offer received
I have been offered a 50% discount offer as a full and final settlement from the PRA group. I was going to try a counter offer (although they have twice declined a counter offer in the last 2 years) But before I do this, should I request a copy of the CCA? The original debt was with Tesco bank from a 2014 account. But the…
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Asking creditors for CCA and accounts - FCA changing the rules soon?
I understand from a previous discussion I had on here that the FCA are in the process of taking over the process of dealing with old debt. From Google: 'The current rule, where a failure to provide a "true copy" of the CCA within 12 working days makes a debt unenforceable, is under review.' Is anyone here acting on this? I…
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Newbie Drowning in Debt
I started getting into debt by getting my first store card at M&S 30 years ago - it was never explained to me what debt was, or how easy it was to get into it… i just saw it as i was getting stuff for free! It wasn't that bad all those years ago, and 25 years ago I managed to get on the property ladder & get a car on…
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Self-Managed DMP - First Contact/Payments to Creditors Advice
Hi there, Just after some brief advice having recently embarked on a self-managed DMP due to a big change in personal circumstances and large uptick in outgoings due to needing a second address. Am in the process of half a dozen loans/credit cards being defaulted, sold, managed by third parties etc, having stopped all…
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Car Finance VS ISA
Morning all, I'm looking for a bit of a sense check / advice please. I've currently got a car with a PCP finance deal, roughly 18 months in, 8.9% APR I'm also now at the point where my savings (ISA/emergency/S&S) collectively add up to almost exactly the settlement amount for the car. The payments are manageable but would…
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ACI Updraft
Evening all, My Updraft loan still hasn’t defaulted despite missing 5 payments. I have received an Email from them saying… As you are behind with payments and we have been unable to resolve this, we will be asking a debt collection agency, ACI, to contact you and help you bring your account up to date. If you are having…
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DMP set up but wondering if I should have defaulted first, and is too late to change?
I'm 29, based in London, earning £2,290 a month. I've just had a DMP set up through StepChange yesterday and they've confirmed they've received my paperwork. But before I fully commit I wanted to get some views on whether I've done the right thing, specifically around the defaulting first debate. My debts Total…
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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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Self managed DMP advice/help??
Evening everyone. This is my first post here after reading only for months. I am intending on doing a self managed DMP & have already ignored my lenders for a few months. Today I received a letter with my first default from “Creation” which I have a loan with. I have copy & pasted the main part of the letter below and I am…
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DMP - the beginnings
Hi everyone, Unfortunately I’ve been in this position before (about 16 years ago) where a DMP seems the only way out so will be going down this route shortly. I’m fairly happy with the process but wanted to ask a specific question. What happens if I don’t default on all my outstanding debt? For instance, I have an AO…
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Debt Advise
Hi all, Looking for a bit of advice on my situation. I’ve built up debt across a few loans and credit cards over time. A lot of it came from overspending on lifestyle/luxuries, and if I’m honest, probably linked to low mood at times—spending made me feel better in the short term. Most of these accounts have now defaulted.…
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Irresponsible lending
I've started a self managed DMP and awaiting my first defaults…I've put in irresponsible lending complaints to FOS and all have come back negative mostly saying that although wages were not checked adequate checks were made via my credit score and as I had always managed my accounts well, so my question is can I do…
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Bad credit car finance
Hi, Does anyone know of any bad credit car finance they can recommend please?
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Can't get creditor to answer my letters
Hi all, Slightly different scenario here ( I think…). I have a DMP with StepChange. One of my creditors is Santander for a FlexiLoan. SC wrote to me last September to say that the payment they made to Santander had been rejected as Santander's receiving account details had changed and I needed to contact them (Santander)…
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My debt story - looking for a bit of support
Hi all, I’ve been a long-time lurker on here but finally plucked up the courage to post. Looking to tell my story for bit of support and some honest perspectives and maybe offer some support to others Over a number of years I built up a large amount of unsecured debt (6 figures) across credit cards and loans. It started…
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PayPal credit card affecting other PayPal use?
I’m at the beginning of my journey… currently missing all the payments on my debts for the first time ever. One of my credit cards is with PayPal and they’ve been very active about chasing payment (which is about 2 weeks late) with lots of phone calls, which I’ve been ignoring and blocking. But it occurred to me, is…
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