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Debt-free wannabe

Archives for September 2015

Can't stop beating myself up
My head is in utter turmoil at the moment with so many "what if's" and "why didn't I do this 12 months ago"...I am having such a roller-coaster ride of emotions it's draining me. Only a few short weeks ago, I had my true LBM - I wrote down my own SOA, down to the last penny and came to realise that we were very much…
Super Sumptious September - How was it for you?
Spendy month for me as i started Uni, new laptop, bits and bobs, bike service, cycle clothing. Nationwide messed up my previous overpayments on my mortgage which meant i had to pay a double mortgage payment this month GRRRR! However - first lot of student finance dropped, straight to CC debt! Found out i have no council…
Moorcroft again
Hi there, I'm new to the forum. Long time lurker, but have never posted before.. until now. So, I have been out of the country the last year or so and came back to letters informing me that my student overdraft had been called in and sold on to Moorcraft. The first I knew of this was when I arrived back in the UK a few…
What are the negatives to a DMP?
We've been making token £1 payments to debts of £57k(!). OH is now in FT employment and last night I spent 2.5 hours on to step change redoing our budget. They are sending me the papers to sign for a DMP through them. I can see so many positives. I felt so relieved last night that this was in order and was manageable and…
Head out from the sand and terrified
Hello All, I am new here, as not been on these forums for a lot of years now. I am in a right mess and I'm so confused about which way to turn. I separated from my husband nearly 2 years ago, and moved myself and 2 young children into a rented house. My ex and I had joint debt which we roughly halved when we separated.…
Cancelling a DD
I am taking out a DMP with stepchange. On my list of what to do it says to cancel any direct debits. I have a personal loan with lloyds and have just rang them to cancel but they said they couldn't do it as I need to have a dd set up if I have a loan with them....I said I was going to be setting up a DMP and they wanted to…
SOA if I go it alone
Hi everyone Can I post a hypothetical situation please? It's not actually happened yet but if I were to split from my partner I would like some advice on my SOA to see if I would be able to manage alone. Please be as brutally honest as you like :) My SOA as a singleton would be: Statement of Affairs and Personal Balance…
How much? A wake up call
Hi everyone, My wife and I were in some debt and worked hard to get our joint finances in order. She is has a small balance left on her credit card and the joint account is still overdrawn, but by paying in what we have been that will be up straight by the end of the year. This was a huge concern for her, but we are nearly…
Taking the leap
Hi Everyone - I'm about to embark on a self managed DMP as I have 3 credit cards that are crippling me. I haven't defaulted on any payments until this month when I simply had no money left so I sent each one £10 and cancelled the Direct Debits. I am about to send letters of explanation and an on-going offer of £10 each…
Very/arrow
In a plan with stepchange and going nicely, got a letter today, that the account with very/is me has been passed to arrow global, which is fine, they acknowledge that a third party are involve. Main problem I have had with very/isme that they have refused to stop interest due to being buy now pay later times, I am able to…
Commercial and Domestic Invesitgations
Hi I'm wondering if anyone can help. I've just had a call from this company - in relation to a "debt". I 'hired' a guy to do the plastering in the living room - he was good, on time and i paid him instantly. The same guy i thought okay - seems to be good, i'll hire him to paint the hallway, living room, bedroom, sand and…
Wednesday 30th September -What small debt free wannabee things will you do today?
This thread is about the small money saving efforts we all can make each day. When we start our debt free journey we focus on the big things. Cancelling the sky subscription. Cutting up the credit cards. But along the way it is the little things we can do every day that keep us on track and making progress. Whether you are…
New Girls SOA
New on tonight but I have been lurking long enough to know that the starting point is SOA. I am pretty sure that our income should be more than enough. We have a lot of equity but really don't want to sell our house. A few things are non negotiable 1. Hairdresser is a family member who comes every 2 months and does all 5…
Banks off setting
Can anyone advise on the rules in respect of bank off setting from one account to another to recover debts? In short, I have opened a Lloyds account, but have debt with the Halifax. Can Lloyd's take money from this account to off set the debt owed to the Halifax? TIA
New DMP with StepChange
Hello, I've come to join the party! I have finally had my lightbulb moment. I am constantly robbing Peter to pay Paul and, even worse, have had to pay my rent on credit cards more than once. I've never defaulted an account but have a ridiculous number of cards (8!) plus three personal loans (trust me, kids, consolidation…
Full and Final Barclays
Hello, I am currently paying Barclays through step change i owe £3.5k I also owe Barclaycard £370. Then I'm done. Barclays have offered to settle the debt at £1100 by end of October. told me to cancel my direct debit to step change this month - pay Barclaycard in full directly then at the end of october pay them £1100. I…
Solicitor's Letter
Hi, received a solicitor's letter a week or so ago requesting payment for some retrospective permission on a property leasehold for his client the leaseholder. If I paid before his deadline there would be no action taken so I paid it in full promptly. This being done, I then received another letter from the solicitor…
I can't believe i've done it again.
Hi I need help. I entered a DPM with Payplan 9 years ago which I have stuck to religiously and never took out any further debt. Until this year. I feel like an alcoholic that has been dry and has fallen off the wagon. To cut a long story short I went through a massive job upheaval in the from May to September which ended…
Debt Advice
Hi Just discovered one of my relatives has a £50,000 debt spread over credit cards. His income is not high state pension and about £40 per week other income. What do you think is the best way to repay this could he go on a DMP. Thanks
Negotiating Final Settlements
Hi there, After years of stupid decisions I finally had my lightbulb moment about my finances. I'm in the process of selling my house to release the equity that has built up so will soon be in a position to settle outstanding debts and start building my credit back up with the aim of purchasing another property in a couple…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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