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Debt becoming overwhelming? Can I pay this off or am I deluding myself?
Hey folks, Can you look at my SOA and advise me if I should continue paying off debts as is or enter a DPP as advised by StepChange. I have put notes next to a couple of things for more explanation. Household Information Number of adults in household........... 2Number of children in household......... 0Number of cars…
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Help
i got this letter in today, my old electricity company is takin me to court, I am challenging the claim and the jurasdiction cos I live in Scotland, do I need to fill out form n180 or is that just my old electricity company
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Ex employer / Insurance company failure to pay outstanding invoice being passed onto the patient
Hi, Looking for some urgent advice, over 2 years ago I was had some counselling which was covered by my ex employer under the private medical insurance, during the treatment I was made redundant which meant a stop to any further sessions, however the sessions I had had whilst I was in employment had 2 outstanding invoices…
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Unenforceable debt due to lack of CCA
Hi All, I have just received a letter from Cabot saying that as they cannot provide the CCA from a credit card debt, the debt is currently unenforceable. The account was opened in 1997 and defaulted in Nov 2014 - so, in theory, will drop off my file in 4 months time. I really want to get in a better position financially…
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What small DFW things will you do, week commencing 27/07/20?
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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Why haven't student loans become a huge mis-selling scandal like ppi?
Hello! I'm in my late 30s. When i was doing my A-levels as a teenager (age 16 and 17), i feel as though i was misled. To begin with my teachers, who to my knowledge had no financial training, constantly took it upon themselves to convince my class that we should take out a student loan. They said we'd probably never have…
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Don't know how to pay credit card
Hello fellow DFWs. I have a credit card bill payment due on 28th July. £30 or so. I have £800 in my current account, so no problem for funds. However.... TSB Credit was usually paid by a transfer from my TSB current account, using online banking. I switched current accounts from TSB to Barclays, and changed my mobile…
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Looking for opinions on how to tackle our debt
Hello everyone. Since the Coronavirus hit, I've really tried to grab the bull by the horns and try to come up with a plan to pay down our debt. I am Self Employed and the pandemic has cancelled all of my work for the foreseeable future. I also have a part time job at a supermarket which brings in £900 a month. I have…
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Struck out case now a 7k debt
I had a dispute with a builder resulting in a small claims track. The builder never paid the hearing fee or complied with court directions so the claim was struck out. I had this confirmed via letter email and telephone. I then received a CCJ for 7k as the hearing went ahead when it shouldn't have as it was never removed…
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Pay mortgage or put on Premium bonds
Hi all, im in a lucky position in a few weeks to be able to pay off my mortgage in full. Drawdown is in 8 years if I don’t pay it early. The interest rate is half a percent above base rate and I’m currently paying about 18 pounds a month interest. So I am getting this lump of cash, around 22k which would clear my mortgage…
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When do "satisfied" debts clear my credit file?
Hello, If you have read my previous posts. I came into a bit of money and then Coronavirus hit. I decided to use that money to clear debts I had. Now that its starting to subside somewhat and my job has not been affected by the pandemic I am finally in a position to clear all of my debts over the next 10-12 months…
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Sinking - Need advise on way out of debt.
Good Evening all, I currently bought a new house just before xmas 2019 and was awaiting on the sale of my current house at the time but that fell through and due to COVID there has been zero interest and i am struggling with all debts. I have approx £100k unsecured debt along with a 2nd mortgage. My outgoings are alot more…
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Cleaning things up
Hi all. With a new baby on the way - three weeks to go - I'm taking this opportunity to put my finances in order and address the lingering debts I have from years gone by. I am quite embarrassed that I have allowed these debts to accrue, and sharing this has been difficult but if anyone can offer any advice I think it is…
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Have a made a mistake re partial settlement offer
Hello I recently settled a debt which has been in default since last July. The amount owed was £1152. I originally offered £350 but they said they will accept around £900. I then said my final offer would be £600. They agreed and I paid it and received letter confirming this etc. As it was only in default for one year , I…
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Incorrect harassment
Hi all For a few months now, I have been receiving phone calls on my mobile phone from CABOT financial, supposedly chasing an old debt in the name of my wife. I have no idea how / why they are calling me. In addition, I strongly believe that the debt they are trying to chase is statute barred. What is the best way to…
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Debt vs Mortgage
Just trying to wrap my head around this so any help would be appreciated. I currently have a fairly small amount of debt (£6,000) on a 0% balance transfer card until March 2020, and we've recently purchased a property so obviously we have a mortgage. In my head, it makes the most sense to pay off the minimum amount on the…
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Advice on inflated costs from third-party debt collector
Hi all (cross-posted from phone & tv - newbie and not sure where best this belongs!) Seeking advice... Not one for direct debits, any kind of debits or debt and now received a letter from 'Past Due' - debt collectors by the sound of it, in relation to Plus Net. The only thing I can think is they're trying to slap some kind…
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Thoughts please :)
Hi all, I am in a situation where come payday at the end of the month, I will be free of my overdraft - Yay!! Finally after however many years - and I plan to stay that way :) My question is what do I plug away at next? I am part self employed so one month I can have a lot more than other months. I have a credit card with…
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Overpayment strategy; loan vs mortgage
Hi, Looking for someone to sanity check my logic... I recently took a loan out for £25k for some home improvements. When I applied I was accepted only for an 8.9% APR, meaning a total interest charge of £5815.40 over a 5 year term Our mortgage is currently £225,000 with 21yrs 7 months left at 2.19% APR which I have been…
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Advice re husband’s debt
Hi, I think I probably know the answer to this but I’m asking people wiser than me. My husband has been seriously depressed and has run up around £8k worth of credit card debt. He has always kept up the minimum payments. He has done this primarily by telling me he had bought furniture, car services etc outright but…
