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Debt-free wannabe

Archives for January 2020

Help with debts please!
Hi all, I would love some advice on the best way to manage a part of my finances. I currently have a budgeting spreadsheet set up and thought I had a plan in place but now i'm not so sure if it's the best way to go forward. I'd like to add that we're not in any financial difficulty. At the end of the month we have £250 a…
Balliff company mistake on final payment
My daughter had a council tax problem a while back them saying that she had missed a payment which she disputed. My daughter had proof of payment with an email receipt but because by that time two payments had been missed and they requested that they couldn't take any payments until the last two payments were paid. The…
2020 comeback
I’m an historic user of the site which has helped me immensely - I’m doing ok but still have some unsecured debt which I’m looking to clear in 2020. There’s around 23k in total, repayments are around £1200 on these a month the largest being a loan repayment taken over 3 years of which there are 23 payments left - I am…
Help with full and final settlements
Good evening . I set up a self-managed DMP in April 2015 following lots of advice and support from here. I had a huge change in circumstances and since the end of 2016 I have been paying £1 token payments to 10 creditors, 5 of which have been taken over by debt management companies (Cabot, Westcot, PRA, Intrum and…
Over Draft Cycle
Hi guys I hope you can help. Firstly my credit profile isn’t great, secondly there’s no one who can lend me the money. I’m stuck in a constant cycle of overdraft debt circa £2k. Pay goes in and I have to use it to live. Now with the changes in the fees it’s going to be even harder for me. I’ve tried to get a credit card to…
Record numbers taking out voluntary arrangements to cope with debts - MSE News
Record numbers of Individual Voluntary Arrangements were taken out last year by people struggling with debt, according to new Government figures...Read the full story: 'Record numbers taking out voluntary arrangements to cope with debts' Click reply below to discuss. If you haven’t already, join the forum to reply.
Advice & Second Opinions
Hi, Reading this board has really helped focus me in terms of trying to get our credit card debt gone. I've been struggling a little to see where the money goes, previously we just had one big joint account where everything came in and out, so it was difficult to see what was going on. I've now set up a couple of different…
Howard Cohen Court Order Letter - 2008 CCJ
Hi all, I have a CCJ from 2008 originally from Intelligent Finance for £4k. This should have been set aside as statute barred at the time, but was granted to an old address without my knowledge, and I have since just let sleeping dogs lie (rightly or wrongly). I have just been sent this letter from Howard Cohen stating…
Looking for advice - SOA included
Hello, I would love some advice please. I am determined to face my debts and have filled in my SOA below. Some things to note: I have a Motability car so that's why I only budget for petrol. I get Housing and Council tax full benefit. And I am not in any arrears with my Gas, Electricity, Water or TV licence. I've tried to…
Moorcroft ignored my CCA request - advice needed
Hi all, not sure if this is the right place to post but the forum is a little confusing! I sent a template request for my consumer credit agreement along with the postal order for £1 on the 14/01/20. I have now recieved a letter from them dated 25/01/20 ignoring my CCA request, instead the letter reads "MONTHLY INSTALLMENT…
I want to clear my debt!
Hello all, I need some good advice here! I'm almost 37 and still completely useless with my money, i have lived a life of mainly borrowing here and there, i.e credit cards, loans car finance etc. I have a decent job and an ok income, 2 two kids of which we pay child care for and living in a rented house. I have a loan in…
Advice with dealing with Moorcroft Debt Recovery
Hello, I hope I have posted this in the right place A few months ago I terminated my monthly mobile phone contract with 02. I had paid by Direct Debit so I was not surprised when I then heard nothing further from them and the payments stopped leaving my bank account and my number was cancelled. A couple of weeks ago I…
Help needed
Hi guys I finally had that lightbulb moment that I need help with my debts. I'm currently married with 2 beautiful children. Non of my family know what a mess I'm in and to be honest if I told my wife she'd end up throwing me out the house. I've struggled most of my adult life with overspending and at the age of 39 it's…
CCJ hitting six year point
Hi folks, I was handed a CCJ back on 21st Feb 2014 and was paid off on 7th June 2019 I keep hearing about this six year rule, what happens once it hits six years from the original date? does it 'disappear' or am I destined to see the entry for the rest of my life?
Help with letter from court
I had 2 CCJ's originally sold on from HSBC to a debt collector. These were incorrect bank charges, at the time the manager of HSBC said they would be removed but he got transferred and they stayed in place, I refused to pay them because I did not owe it. They were sold on and I did not need to apply for any credit so I…
Debt help please
Hi All, Very new here and not sure where to begin. I have found myself in an unfortunate situation where I have have had to leave my partner and look to rent somewhere with my 2 year old son. I took out a loan in my own name to cover 'family debts' - which i am now left with. I have done a SOA calculation, and I am…
Overdraft help please
Hi, Quick question regarding clearing the OD. We are going to do a money transfer to get rid of it My thinking is that once the money is in the account and the OD is reduced, we should theoretically get DH's 'wage' back as the OD won't be there??? The OD is £2000, I don't need to transfer £4000 to balance things out? Hope…
Pension vs debt
Hi Hoping for some advice - I have around £14,000 which I am paying off at about £400 per month. All on 0% cc. I'm 46 and am paying 5% of my salary into my pension. My employer matches that and would match up to 8%. Should I pay the extra 3% into the pension or into the debt? Views please. Thanks
Help going from Managed to Self Managed DMP
Evening all. After some advice again if possible. I went into DMP in Jan 19 with SC. I managed from then until now to get my debt down from circa £22k to now little over £10k. Recently I have been considering taking control myself and going self managed. Couple of reasons : 1. One of my larger creditors agreed £200 per…
How much can I offer debt collectors?
Hi - first post so thank you for any assistance/advice Without boring you with the details I have myself in a situation where 2 credit card debts approx £15k each have been transferred to debt collectors (Hoist and PRA) For a variety of reasons no payments have been made for some time and I am getting surprisingly little…

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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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