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Personal guarantor for Ltd co - advice needed
Background: I set up a UK ltd co many years ago with a partner. We had a biz bank account which we both signed up to act as personal guarantors. I resigned as director in 2012 and lost contact with my old partner a few years back. I also emigrated from the UK in 2018. Fast forward to a few weeks ago, I received some…
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Settlement strategy
I am in a fortunate position to be able to settle my remaining debts, i am still in my StepChange DMP but through an amended budget only start the payments again in July giving me time to negotiate with the creditors. StepChange sent me an email confirming they can negotiate on my behalf and that if i come off the DMP…
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Unaffordable Lending - Autism - FOS
Hello, I hope you are well. (I sometimes struggle to right coherently so I have broken my questions up into smaller questions I hope that is okay) I have autism, and generally struggle to manage my finances, due to my disability I am unable to earn a lot of money (around 22k/year). 2 years ago I signed up for a credit…
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What steps should I take?
Hello, I have about £40,000 in debt and I have been chasing my own tail down this debt spiral for 10 years, with it building up and up. I have never missed a payment in all of those 10 years and have done everything I can to keep on top of things. However, some of my cards are coming out of their interest-free periods…
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Mortgage after DMP
Hi everyone, Could anyone give me some advice please surrounding mortgages? My partner and I are presently in DMP Agreements. They have been running for around 4 years each and have a fairly small balance left. We now have funds available to us to clear them and have been exploring options for settlements/awaiting docs…
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Virgin Money debt sold but no default?
Hi all, Self managed DMP, slowly getting all the defaults… Received a letter today that advises Virgin have sold my cc debt to capquest. I received a default notice back in January from Virgin, but the actual default has not appeared on any of my credit reports yet, nor any confirmation the account has defaulted. However…
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Link Financial Settlement Offer
I'm hoping someone can assist me with this matter. I recently contacted Link Financial to propose a partial settlement of £300. They responded with the following message: I have the following questions / concerns: 1) Concerning the language used in their letter, is there a chance they might pursue me for the remaining…
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Best option clear debt and pay least intrest
I have a buy to rent flat on morgatge. Od limit 2000 remaining left 146, may need to spend £40 before I get paid getting charged 1.58 per a day intrest. Credit card 534.31 use to pay full just chnage this now to minimum Paid salary on 20th April Salary after tax £1256 Outgoing pay 550 ground rent etc ( first time as I only…
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Please help debt, death and depression :(
Hello, Been on this forums before and back again to try
again. Brief situation as otherwise could turn into an essay. So am married (technically only on paper really!) with a small child of nearly
3. Not working due to said small child. I live with my husband who
in theory should pay most of the bills but money has become…
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claiming fees back from Kensington ?
Kensington sold our account to Mars Capital in Feb this year , so will be offering a repayment to them as fallen into arrears of over £5,000 due me having cancer . Anyway Kensington over the years added £595 in fees even when we had a repayment agreement in place for arrears . Can we claim these fees back even though they…
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Defaulted CC advice - statute barred?
Can someone advise me ref my partner's debts? I'm nearly debt free myself thanks to this forum (under another username but I don't have those details now) :smile: My partner has 2 old CC debts, one hasn't had a payment/acknowledgement on it for at least 8 years so I assume this is statue barred? He's been getting letters…
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Is My Situation Completely Hopeless?
Hi All,It has been almost 10 years since I was last on this forum and I am back here looking for a way out. So basically, I have found myself in around £47,000 worth of personal debt all in credit cards. There are 5 credit cards in total. I owned a business which which did really well for years and I employed staff…
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The Best Option
Hello everyone, I’m new. I find myself with £13,898 debt. It’s affordable with monthly payments and mostly accrued during my youth. I’m in a mature position in life to now want to start clearing it as my payments on debt each month are approx £600/month. With two young children and a different lifestyle now, it’s time to…
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Best way advice please.
I have 5 grand heading my way in September, I want to use this to pay down some debts - I know it's a way ahead but it keeps me going on my journey, lol. I have 3 credit cards, all with approximately £2,000 ( at the moment) on each at 0% until mid next year. I have a car loan, by September, it will be down to £1000 - very…
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Please help debt, death and depression :(
Hello, Been on this forums before and back again to try again. Brief situation as otherwise could turn into an essay. So am married (technically only on paper really!) with a small child of nearly 3. Not working due to said small child. I live with my husband who in theory should pay most of the bills but money has become…
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Please help debt, death and depression :(
Hello, Been on this forums before and back again to try again. Brief situation as otherwise could turn into an essay. So am married (technically only on paper really!) with a small child of nearly 3. Not working due to said small child. I live with my husband who in theory should pay most of the bills but money has become…
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DMP and defaults
I've applied for a DMP with StepChange. 1. Should I have defaulted first? 2. Does default simply mean missing payments or paying less or is it other official action? 3. I regularly have made payments albeit sometimes minimum and now have stopped whilst I await DMP outcome. I'd regularly pay then reuse the credit as I'd be…
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SOA - Advice please
Hi, I've been on this forum for years and have plucked up the courage to add an SOA for people to review and provide advice. I mange my own debt management plan, but since have taken out additional credit cards which I'm really annoyed I've done so. In 2 months time my employee will be introducing a salary sacrifice car…
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Worth paying off student loan?/points on lump sum?
Trying to work out if it's worth paying back my student loan or to keep a lump sum in case? Is there any way of getting points on lump sum payments?
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HMRC Debt
Hoping someone will be able to help advise on the best way forward relating to debt with HMRC. I'm currently in a self managed DMP and the below is what is owed and monthly payments. Tax Credits Overpayment from 2016 Balance £2,500 Monthly payment of £10.00 Underpayment of tax 2020-2021 Balance £2,800 Monthly payment of…