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Debt-free wannabe

Archives for January 2017

Eternally in the red.
My self-employed income has been erratic for many, many years. I have relied on the peaks to clear what I now consider massive unsecured borrowings, mostly on credit cards. I'm forty this year and want to stop work eventually and have decided to tackle this head-on and hopefully be debt free within 5 years. I've bought…
Cabot financial, court, N244, help?
Hi everyone I am sorry if I have posted in wrong place just after some advice. I received an 'attachment for earnings' letter in the post from a money business court centre place so I rang to ask what it was all about and they told me it was from cabot financial, I then rang cabot to ask them what was happening and they…
Dealing with mega debt - query
Hi Quick question. - If you have mega debt (totaling ~£100k) - split across two individuals (husband/wife) - are homeowners (on mortgage) - held on ~10 credit cards (making use of 0% deals / moving it around as and when necessary) ...but can just about manage to service the minimum monthly repayments on each card .......do…
Lowell Solicitors Court Letter
Hello everyone, I am just looking for a bit of advice please. I have received a court claim form from Lowell Portfolio. The court is County Court Business Centre in Northampton. My outstanding amount is £1125.88. The court fee is £70 and legal representative costs £80.00. Total £1275.88. My debt is an outstanding Very bill…
Mortgage Shortfall - likely creditor action
Hi, I have a mortgage repossession shortfall from 2012 which equates to around £40K. Ideally I would like to arrange a F & F settlement but to date that has not been successful. The communication with the creditor has been a nightmare. No payments have been made since 2011 as I have little disposable income to contribute…
Statute barred ? 6 Years nearly up
I have two defaults on my credit report, which are both coming to the 6th year. I had an old contract phone, which got sold to Lowell. They send letters to my mothers address but I've never acknowledged them. Now I'm trying to clear up my credit score I see I owe them just over £750! I've contacted them on the phone and…
Does pawning go on credit file?
Hello We have had the month from Hell and are really stumped for the next three weeks - then we'll be fine (have had to pay out for funeral, car, etc unexpectedly). We are 2 payments off our mammoth DMP - so have few options for access to money. If I pawned our iPad would this show on my credit file? Thanks
wescott financial services ignoring my offers?
Hi everyone, Can someone help please? I took out a credit card on a rather "End of the line" or "Scraping the bucket" type company that some of you may of heard of called vanquis, They are a last resort! If you have bad credit these claim or did do when i applied say they will help you build your credit status back up,…
What does paying off a default do to your credit?
I've tried googling and it just says that it will help improve your credit but still won't be off your file for 6yr. So how does it help? I have a default for £14 from 2013 that I'm going to pay off. What happens to it then? I have another for £0 from 3 - due to come off Oct this year. Is it £0 because I've paid it or is…
Overdraft reduction affected my balance. Is that right??
It's probably going to sound like a stupid question BUT here goes.. I've just reduced my overdraft (in an attempt to wipe it out completely) but it's left me in confusion as the same amount as the reduction has now disappeared from my account.. In my head, I wasn't expecting it to make any difference, although maybe as I'm…
Where to start...HELP!
I'm relatively new to this site and been lurking for a while, but today is the start, the beginning...of the end... You've probably heard it a millions times before, but sheer stupidity as got me where I am today, with around £15k of debt between 2 loans and one credit card. I've been shifting from one 0% balance transfer…
Capquest letter chasing debt
I hope this post is in the right section, apologies if not. My wife has recently received a letter in the post (dated 24 January) from a Debt Collection Agency called Capquest. It's asking for payment of £743 from an outstanding debt with Arrow Global Limited. My wife does not know what this debt is and has never even…
remortgaging with the same lender on a DMP
Hi, just wondering if lenders carry out credit checks on product changes with the same lender?, my 2 yr mortgage comes to an end in July and I was wondering if this will affect me getting a product change with the same lender?.
Gourmet Society cancellation help
Hi all, a friend of mine signed up for a Gourmet card back in October for £1 and has since forgotten to cancel it and has today had £39.99 taken out of their PayPal account. PayPal cannot help unless she files a dispute and they advised to contact Gourmet herself in the first instance. Can anyone help her with what to say…
British Gas what are they playing at?
Just checked my noddle report and 14/01/2017 British Gas have registered a default!!!!! For £110 8 years ago.....and apparently this account is active. I'm in shock...
Ccjs and Full and final offers
Dear all, I'm new to the forums so please be gentle with me 😀 Trying to keep this short but just want a bit of advice please.... I have a couple of old ccjs going back about 10 years which I have been paying regularly with minimal amounts per month. They no longer show on my credit files as they are so old. I am looking at…
What small DFW things will you do this week? w/c 30/01
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…
Full and Final Settlement?
hello to all I had a debt with Lloyds bank which was passed to Apex Credit Managment Limited The debt was £10000 i was set up direct debit £20 a month till now i never miss any payment last week i have received letter from apex they offer me to clear my account with them its 70%, onley pay back £3000 , i have already spoke…
New CCJ on file - Help Please
Hi guys, Wondering if you can help on where i stand with this. i have today logged into my credit report and have had a CCJ added on there this is what is on my credit file Account type Electricity - even payment Account number **************3538 0 Account holder status Gone-away Account start date 07/11/2008 Opening…
investing or business, which road to take towards a decent life?
Thanks guys, but I got my answer in another thread, still thank you if wanted to help out! :)

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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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