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SOA - Advice needed please
I'm putting together my father in laws SOA. Unfortunately his partner passed away leaving a huge hole in the householed income. Therefore hes looking to restructure the mortgage to bring the monthly amount down. Income: Total Pension Income 650 Outgoings: Mortgage 350 Gas & Elec 105 Water 33 Home Insurance 10 Plumbing…
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SOA - Any penny pinching ideas welcome
Hi All Long time lurker and big lover of this site I have been reading lots of diaries and threads and feel like this is my LBM and its time to stop looking at others and take control of my situation. I have been in debt for a long time and every month due to bad money management and poor budgeting I end up spending on…
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Selling Up to Rent??
Hiya, I will try and keep this as simple as possible and would really appreciate any advice. We are 8 years into a 30 year mortgage with NRAM, it was a 100% jobby with unsecured loan attached. We bought when house prices were high and have only just started to come out of negative equity. We also have some other debt which…
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SOA Improvements?
Hi, Would anyone mind taking a look at our SOA below and offering any advice where they can. Does it seem realistic - anyone see anything missing? Its an SOA for intended spends. It probably seems frivolous in places, but I'm trying to not draw back too much as it is just leading to un-budgeted for spending. Thanks.…
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Feeling Lonely and Depressed with my Debt Situation
Hello Guys, I decided to write in here in an attempt to relieve the pressure I feel inside from being in so much debts and not knowing what the next steps would be. I tried to find support groups with no luck. I feel very anxious and sad to be in this situation. I will share my story in order to show other people in debts…
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Budgetting With Debt...
Those in debt - do you build pots for things like car maintenance, presents, etc? Or do you just budget one month ahead and throw everything else left at the debt?
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Wednesday 25 February - What small DFW things will you do today?
When we start out on the DFW trail we do loads of "big stuff" that makes quite a difference to our situation. These include having our lightbulb moment, cutting up the credit cards and cancelling Sky and the gym . But once we have done the bigger stuff, we often feel that we are not making the same amount of progress, when…
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Entering a DMP for the second time...how long after will my credit start to improve
So about 2 years ago I got into a mess with payday loans. I'd just started my first job and was 18 at the time. I ended up owing around 1500 and entered a DMP. After around 4 months of payments, I came into some money and cleared my debts after a reduced settlement figure was negotiated with my creditors. Then about a year…
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Debt management plan - 2 current accounts
Ok so today I set up a debt management plan with Step Change. They sent me a template of a letter to send to my creditors to tell them to cancel the continuous payment authority so they can't take any further money from my account. What I've decided to do is open a new current account where I'll get my wages paid into and…
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In a muddle with money - need help!
I accidentally put this on the diaries page and was re-directed here. I hope I now have the right place for posting! Hi all, This is my first post, and I'm really hoping for some help. I feel really out of control and a bit panicky about the state of our finances and I'm not sure what to do for the best to fix it. I had a…
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Debt Plan
So here goes my first post.... I have debts of around £5800 and I've decided to clear them sooner rather than later. I have a rough plan but think I need a little advice to see if this is the right way to go as I want to sort it myself before getting in too deep or involved with DMP etc. Any feedback/thoughts would be…
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Full & Final settlement
Hi, I'm new to the forum. I've been in a debt management plan for 5 years, paying about £50 a month on a £14000 total debt. Recently I inherited £8000. I wrote to my four creditors and made pro-rata offers of about 60%. But one of the creditors rang me and asked for a higher offer. I panicked and said I didn't have any…
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no light at end of tunnel
We are seriously in debt and need some advice. My partner is 51 years old and I am 50. We have a mortgage with Nationwide still owing £140,749.00 with approx 25 years to go as extended mortgage to 32 years. A secured loan with First Plus which was over 25 years, the total was for £89,000 but still owing £85,634.00 after 9…
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Mackenzie Hall help!
Hi all, I'm new here and wonder if you could help, Around three years ago when I was a university student, I applied for £200 overdraft with Barclays. Before I even finished my course they have closed my account without letting me pay it back. I called Barclays on the 15th November 2014 to ask where the £200 needs to be…
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applying for a basic bank account
I am about to apply for a basic bank account online but am concerned about doing something to screw it up. Should I, for example, tell them about my current account? And should I go for a nationwide or natwest account (or another one entirely). I'm in the midst filling in the nationwide one but, although I clicked on the…
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lowell group and disputed three debt
Hi, Wonder if anyone can help, I've had a phonecall over a disputed debt with 3 mobile for mobile broadband which I never had. A few years ago I disputed it and never heard anything then pre xmas I got a call from lowell and went through the same thing again. They said it was being passed to three to investigate and have…
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Pay off debt or invest?
MSE-o-sphere, I need your advice. Tomorrow is meant to be my debt free date, when I will be clearing the last £700 or so of my CC debt. However, I really want to invest in Neil Woodford's new investment trust before it becomes oversubscribed (which it will very quickly). The minimum investment is £1,000. I can't touch my…
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Loans for those previously bankrupt
I'm in need of some help and advice. I was made bankrupt in June 2009 and discharged by the December of the same year. In June 2015 the bankruptcy is due to be removed from my credit file yet still I am unable to get a reasonable loan for my new motorbike needed for the daily commute. My bank is Lloyds and they want me to…
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Taken a big step to sort out debts today...feeling good
So I was looking for a loan of 4500 to consolidate my debts. Was unsuccessful. My credit rating and past history has impacted lenders decisions. I'm 21 and want to start to grow up and sort my life out. Today I called all of my creditors and got an early settlement figure which slashed the amount I needed to borrow by…
