Debt-free wannabe

If you need help with your debts, this is the thread for you. This is a new thread, as the old one was getting a tad long. Trained advisers from StepChange Debt Charity are here and waiting to answer your debt questions. They're a friendly bunch so please don't be shy! There are three ways to get in touch: 1 - Simply post…

Welcome to the DMP mutual support thread Part 13 !! Here you can find help in starting and running your DMP, self managed, Stepchange, Payplan and any other DMP all welcome here, but we do encourage you to use a free service, not one you pay for. There is help on getting interest and charges stopped, how to start with an…

I feel that this is so important that I thought a new thread should be made to highlight the importance of understanding the law on Charging Orders and how many people are stuck with their property in the false believe that they have had a Charging Order put on their property. In particular the thousands of Northern Rock…

Update December 2018. We started this Debt Free Roll of Honour back in 2006 and since then there have been some fabulously inspiring stories, which you'll see if you read below. To read the most recent debt-free announcements click the double arrow above to head to the last page of the discussion Back to Martin's original…

People post on this board looking for advice on many different debt topics. However its sometimes difficult to post in the right place, so, if you are wanting general advice from our panel of regulars on your debt issues, and how to go about solving them, you create a new thread using the big red "create new" button, top…

Hi all just wanted to share some good news regarding payday loan companies..... From early 2011 until mid 2014 I too was caught in the payday loan trap, all my own fault may I add, I borrow the money and in the end paid every penny back, would estimate 15000 over the years maybe 20. Early this year I saw all the news…

This thread provides guidance about some good first steps you should take if you are in debt and want to get debt-free. It doesn’t matter how big or small your debt is, or whether you are comfortably paying your debts and looking for advice on where to cut back further or struggling to cover your basic needs - we are here…

Martin (Lewis) made the following announcement a few years back. But the link in the stickies is broken. Anyhow, here is what Martin said: "Dear Money savers..... Debt Free Wannabe is one of my favorite boards on this site. It's also one which runs a delicate balance. Many people who have serious debts have hidden them for…

Debt-Free Wannabe Sticky - Please read for links to important topics and help Hi folks :) This is the Debt-Free Wannabe Sticky where links to all current important tools and information will be posted. Links: (1) Those who are new to debt, and want to know where to start, check out these first steps :…

Statute barred debts and the Limitation Act Statute Barred debts. A debt will be "Statute Barred" if there has been no acknowledgement of the debt by you making a payment or in writing within the relevant limitation period. The debt would then be legally UNENFORCEABLE, unless the creditor has already taken legal action…

Hi all. I originally started a thread regarding my current SoA which has now been resolved here: Self-managed payment plan - SoA check needed first please — MoneySavingExpert Forum I offered my creditors a payment plan to which MCS sent their own version of my SoA. I have redacted the upper portion of the SoA which shows…

Hi I currently have debt of £3100 on a 0% credit card available until 2028 A further £1800 on unsecured loans I have my own house and the mortgage is up to date. I hve been in this spiral for the last 6 years and cannot get out of it. I’d managed to pay off part of the credit card, but then stupidly spent another shed load…

Hi all, Where to start! I am living alone in a rented property (HA) and I need some help regarding my debts as I cannot continue living as I am with the cost of living and taking more and more credit. Current debt stands at around 14k which is a mixture of credit cards, loans, catalogues, phone contracts etc. I have 3…

Hi everyone, I’m posting because we’ve reached the point where our £60,000-ish debt is becoming completely unbearable, and I think we need to be brutally honest with ourselves and get some outside perspective on what we should do next. Our money problems really started towards the end of 2024, when my wife was made…

Afternoon all, I have had a read through a lot of the topics and it’s a great resource and full of great advice. I’m hoping for a bit of advice with my situation. I got into a bit of trouble back in 2018/19, leading to missing payments and subsequently defaulting on a few credit cards and a loan. I have since paid off all…

Hi all, looking for some information on child tax credits and if debt related to overpayments are enforceable indefinitely or if like other debts they become prescribed/statute barred. For context, I had a joint claim 7 years ago with my ex wife and we were seemingly over paid by about 5k. Because Th e tax credits were…

Hi everyone, I ended up in around £30,000 worth of debt after falling out with a friend who was renting my property (never, ever mix business with friendship). Due to this, it put me in severe financial difficulty and my creditors were extremely unsympathetic and piled on interest and charges. I didn't initially know about…

Hi everyone, I'm hoping for some advice from people who have been in a similar situation, as I'm feeling quite overwhelmed and unsure what to do next. My husband and I have accumulated approximately £100,000 in unsecured debt through credit cards and loans. It's embarrassing to admit, but we're determined to take control…

Hi all Thank you in advance for any guidance or advice you can offer me as I begin my journey to becoming debt free. I am intending to enter into a DMP as I find myself drowning in debt after a change in circumstances and honestly years of bad choices. I was planning on doing this via step change but have been reading the…

Hello absolutely ashamed and terrified to be writing this but have created a lot of debt of form on loans and credit cards over the years so now around 28k. With cost of living etc I’m meeting payments but living in overdraft and just constantly worried. Nobody knows about this - my husband especially. I have contacted…

I found myself in an abusive relationship after my marriage ended, which resulted in me ending up on antidepressants, drinking too much and overspending as ways of regaining some control (it made sense to me at the time). This relationship ended almost 2 years ago. I have found myself in a very good place mentally and…

Hi all. I have been in a backwards and forwards for over 12 months with Lowell and Mortimer Clarke who, to be honest, have been very reasonable with me. They have not pressured me at all which is great as it's allowed me to remain calm and collected throughout although the stress levels are still high. I feel I am able to…

…. so firstly - don’t worry - most people won’t be in as much debt as me! Help is out there, and the law and FCA rules exist to help you take control of the situation so don’t ignore it. Go to Stepchange or Citizens Advice or wherever. I know you’re not sleeping, potentially lying to your family and worried about…

Hi guys, Looking for some advice. We have lived in Ireland for 16 years, however my wife continues to have a UK credit card, the balance on this stands at approx £3300. Alot of the this is made up of debt from well before that 16 years before we moved. Ultimately she is paying the interest on this (half of any payment goes…

Yep - here we are again, time for the annual warning thread,,, I'm talking about the "December pay trap" - you know the one, rather than being paid on the last day of the month, or the 28th, "because it's Christmas" your company set up the pay run early - anything from 10 days early. The money lands in your bank account,…

I have been in a Debt Recovery Plan for nearly 6 years and is run by a DRP debt relief company and they assess yearly my disposable income The debts are mainly credit cards but also a Bounce Back Loan When the 6 year rules kick in will the BBL and credit cards come under the Limitation Act 1980 I am 74 years old widowed…

Good morning all, I'm feeling very embarrassed, scared and stressed about my situation and would really appreciate some advice. I have accumulated around £85,000 of unsecured debt due to terrible overspending. I suffer from ADHD and do have difficulties with money which I am trying to manage with the help of others and my…

I defaulted on a credit card in July 2020. Lowell have bought the debt and have been ringing, texting and sending letters. Today I got a letter saying if I don’t get in touch by 1st April they will send a field agent to my address. How likely is it that they’ll do this with 4 months until it’s statue barred please? What is…

Hello! I am look for some advice please. Background: My Spouse and I had some credit card debt but had consolidated onto a 0% card and were managing well, both working and paying off chunks. My spouse became seriously ill and after several months in hospital they came home and I am now full time carer. This was 5 years…

I started a thread today about my Tesco loan being sold to PRA group. Early days, I’m thinking about my options. Would a DRO be advised? My husband outright owns our home and I’ve never paid bills or have any vested interest in the property. My car is a Motability Venice in my son’s name. My only income is the carers…