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Debt-free wannabe

Archives for December 2020

Stepchange Review
I'm due to do my DMP review soon. Do I need to send in copies of wage slips again if everything has stayed the same? I'm just wondering if I need to get them printed or if they'll just accept me saying that it's all stayed the same. Thanks
Challenge default date
Hi, I had a couple of credit cards with aqua and virgin money, stopped making the minimum payment around mid 2018, just checked my credit report and the default dates are around jan 19 and aug 19 which means it’s going to take even longer for them to disappear off my credit file. A couple of other defaults I had all put…
Question pay of or save in Lisa
Hello so last couple of years got on top of money had debt from personal loans and credit cards that 2 years ago got the accounts frozen and paying off the debtors on an informal arrangement each month. At current projections my target is july 2025 to pay off my debt and have enough for a mortgage when the defaults should…
PRA group no paperwork after 3 years
Had a barclaycard debt sold to pra group over three years ago approx £5k.. following online advice i requested a copy of the paperwork and contracts etc. They have not been able to supply these. I got a letter from them about 2 1/2 years ago saying that they are awaiting the paperwork and meanwhile the account is deamed…
Dmp
I have a DMP since 2016, 7k, 7k remaining I have bipolar 1 and pay £1 token payments. Sometimes I don’t pay. I have defaults etc my sister wants to pay 4 debts off to help me. I suspect this is not allowed? Will payplan throw me off my plan? It’s tempting to accept her help and have fewer creditors and the amount is only…
Historical debt but not allowed to remortgage
HI all - apologies for the life story, but I think it's important for context! A few years ago I tried to start a business - it was my first (and last!) venture into the world of small business ownership but unfortunately I was naïve and a few mistakes were made, such as not knowing how to borrow, avoiding personal…
New Beginnings and working towards a clean slate
Hi, I'm a complete newbie, spending time reading through the boards and threads gathering ideas as I go. My current debt is £21500 Tesco loan, which is new paying standard agreement amount £385.94 per month (purchased car that was on PCP) £5985.53 First Direct Loan, paying standard agreement amount £192.33 with a £100…
Debt in Contention
Can anyone give me some advice on the above. I have been in a DMP for over 15 years with over 15 creditors, and the debt is not moving. I am keen to do this myself and not go through a solicitor. Any advice would be appreciated. Kind Regards Meera
What to pay first with poor credit file
Hi Everyone hope you’re all well I was after some advice on what to pay first. Unfortunately I don’t have a great credit score due to an old default from April 2016 so I am limited on certain things like 0 percent cards. Myself and my partner also managed even with a default to be accepted on a mortgage which was 95 ltv…
Good Friday Update: £39,800 cleared - what I learned
**Long post alert ** As scheduled I’ve just paid the last of the wretched £21k loan I posted about in my first thread: What would you do? CC or loan please help I’m not quite debt free since I’ve got around £7k to clear on CC2 but the money I’ve freed up by clearing other debts means CC2 will be gone within 3 months. So…
Hoist added another default account after I had paid
Long story short, I had a defaulted account with RBS over an unpaid overdraft which was sold off to Robinson Way/Hoist. I paid the balance off to Robinson Way/Hoist a couple of month ago and the RBS account on my credit files was then marked as settled/satisfied. Fast forward to now and Hoist have gone and added a new…
PayPal - negative balance since 8 years ago
Hello, I have a question regarding my PayPal account that has had a negative balance for more than 8 years now. I am unable to log in and PP representatives told me that there is a negative balance and I need to call them in order to unlock the account. I live in Europe and I think I wasn't even 18 years old when I created…
Feel sick, need some help
Hello. Never thought I’d be back here with issues but here we are 😩 we feel bad enough about this as it is. Bit of history. Got into debt many years ago to the tune of 60k through over spending, not the best of wages (HM Forces) but by no means rubbish, poor decision making and wife being off work with depression. Went…
DMP or Self-Manage?
Hello all! Long time lurker, first time poster here ^_^ Basically I started off with about 21k worth of debt with 5 creditors. This has now been whittled down with the help of a Stepchange DMP to 2 remaining creditors, both now held with PRA group. PRA group : £9875 PRA group: £4137 Currently paying £174 p/m through…
Early settlements and credit file
Hi, i have currently stopped paying 2 months ago my debtors in my DMP with stepchange. I am awaiting CCA's which cannot be found at this stage. I have 5 debts in total, 2 of them have dropped of my credit file and i can no longer see them as they are 6 1/2 years old. If i offer early settlements to the other debts and part…
Which should I overpay?
Hi, i owe 98000 on my mortgage at 2.39% fixed for 5years. I also owe 7800 on a Halifax loan at 3.44%fixed. Which should i overpay 1st? I'm thinking Halifax as higher interest, but unsure if with the mortgage being a higher amount the interest would be more on that? Any help appreciated. Thank you.
Lowell’s offering discount
Sorry really new to all this so it’s a Very debt sold to Lowell’s I took advice on here originally. I have made no contact or offer of payment at all to Lowell’s despite receiving a few letters and have now received a letter offering a 20% discount if I set up a payment plan by the beginning of January. To be honest I was…
What small DFW things will you do this week 28.12.20?
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…
Very old car finance ccj but not yet enforced
Hi, sorry for the length this is likely to be i know many of you will say it’s a debt it should be repaid, those who have this stance please kindly stay quiet about it Back in 2006 I purchased a brand new car, mix of finance and part ex. The finance was with ge money. the payments went out by direct debit initially without…
HMRC debt and negotiating a payment plan
Hello All I’m a first-time poster - please bear with me. I am in quite substantial debt. Although I am managing it, I am suddenly in a bit of a pickle and would really appreciate your thoughts on my situation. My Debt Story:I’d like to think I did not get into debt foolishly but some may disagree - I did not spend it all…

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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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