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NEW POSTERS LOOKING FOR DEBT ADVICE - READ HERE FIRST BEFORE POSTING ANYTHING !!!!!
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…
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In Debt and Wannabe Debt Free? first Steps to take are here, please read, then ask questions.
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…
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Pls remember Debt-Free Wannabe's for support and help not judgement
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…
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Struggling with debt? Ask a stepchange debt adviser a question
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…
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DFW Sticky-Provit/Statute Barred Letters, Defaults, Mental Health Help and Guidance, all here.
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 :…
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Statute barred debts and the Limitation Act
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…
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DMP mutual support thread part 13 !!
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…
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Reclaiming money back from various payday loan companies
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…
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Charging Order? The myth
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…
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The Debt Free Roll Of Honour
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…
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When is debt a reasonable position to be in or does context affect ideal pace of repayment
When I met my partner, I had a well paid job and a flat in a popular city. When the relationship drew to a close I had barely more than the clothes I stood up in. I got into debt to do a masters which I gained with distinction and in the months before my 50th birthday I got a very well paid job off the back of that…
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Dmp advice
Hi im new here and dont no how to do a post to get dmp advice
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New unknown debt- not sure.
18 months ago I started an IVA, and assumed all my debts were on it. Nothing on credit record left out so as far as I'm aware the iva covers everything. Then had an text at the start of last week out of the blue from a company called Opos. Told me I had a debt and to call a number. Assumed it was a scam and moved on. Then…
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Things Got Worse - Struggling with priority debts and scared to lose my house
Hi everyone, I posted here before about my credit card debts and got a lot of help. My situation has changed so much that I thought it would be better to start a new thread as the old thread was getting too long.. The strange thing is that the old credit card debts are now the least of my worries. Following the advice I…
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AP, then defaulting
I'm exploring a tactic: Breathing space Setting up DMP via Stepchange If interest and charges are not frozen by the creditors, self managing and then defaulting What I would like to know is if anyone has experience of deploying this sequence (or similar), either accidentally or on purpose. As per my original thread, my…
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Stepchange help
Hi everyone, I have a couple of questions before finalising my dmp with Stepchange. I have now had 2 of 6 accounts default. Do I still continue to not pay until they all have? Also I have a joint account with my ex that joint bills come out of. Do I need to get rid of this? Existing mortgage comes out of this account and…
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DMP questions - would appreciate some help!
Hello, First time posting and looking for some help to figure out resolving the situation I’m in. For starters, I have 168k in unsecured debt, and owe a family member 19k. I have a high income (£5105 PM) but the debt is currently unserviceable due to high interest. I have run a StepChange calculator for a DMP based on…
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Advice on making settlement offers to 3rd parties
Hello! I have 4 individual debts that were sold to 3rd parties by the original lenders several years ago. I have submitted CCAs, and unforunately, they were all able to provide the signed credit agreements (I don't feel too bitter though because I did get lucky with quite a few of my other debts!). None of these debts were…
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Advice for SOA
How do I get an accurate SOA? This is the recent result and it is sooooo far off correct. On a good month I get to around 10 days from payday before I'm using the credit card for basics. With the buildings insurance (arrives Dec) and water rates (Mar and Sept), I pay on receipt. Currently by using C/C, which I want to…
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Debt Recovery letter - DCBL / POP Telecom
Hello, I previously had my broadband through Pop Telcom (avoid them at all costs, FYI). I gave the required notice, ended my contract, and even paid £79 for a unreturned equipment fee. The last correspondence from them I had was from July and was an invoice for the unreturned equipment fee, which was taken out by direct…
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AIC CCA Requset Reply
Hi all, I have been doing my self managed DMP now since last year for around 54k in debt. Mostly cards but 1 loan also. I have got to the point where they have all defaulted me, passed them to debt collectors and been paying £10 a month. I have now written to them all to request CCA's sending the standard letter. The first…
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Question about defaults / starting the DMP
Hello, This month I am going to stop making payments against my unsecured debts (£8k), in order for them to default over the next 3-6 months, so I can then start a DMP. I have 5 creditors and I expect they will default at different times. Could you advise what I should do after the first creditors have defaulted, whilst I…
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Pay off large Sum, but then be Part-Satisfied
Hi all - I have a debt of £5,900 on a credit card (now with Cabot), that has already defaulted, so has already done the damage on my credit report. I now have £2,750 that am I able to pay off, and I want to go to Cabot and offer this amount as a settlement. Firstly, what are the changes they'll accept this amount do you…
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Debt advice help
I have approx 220k of CC and unsecured loans + a large mortgage. Most cards are no longer on 0%. My house has equity of c. £600k+ I earn just enough to pay the debt interest, but not to cover monthly expenses. I would like to avoid DMP or Bankruptcy as this will impact my ability to get Credit and presumably could result…
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Link Threatening Legal Action
Have a debt for around 7k that has made its way to Link. I changed bank accounts and closed off the one that was used to.pay Link. Correspondence received stating repayment plan that I had in place cancelled due to this. I have emailed Link twice to explain situation and saying happy to set up payment plan again on same…
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£15k default passed from cabot to Mortimer Clarke - when to send prove it letter?
Hi all, Bit of a two pronged question here. I accrued a number of debts in 2024 and followed this forum's advice to let them all default. I have been ignoring all attempts at contact in the hope of riding it out for more agreeable settlement offers or making it to statute barred status. One of the larger debts (approx…
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End of the road Considering self-managed DMP – CAB advice vs waiting for defaults?
Hi everyone, I’ve spent quite a bit of time reading through the DMP threads on here and they’ve been incredibly helpful and reassuring, particularly hearing from people who have actually been through the process. I’m hoping for some views on my situation and, particularly, the period between stopping payments and actually…
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(Small) UK debt after leaving UK
Hi everyone! I know this is a usual conversation and the consensus is often to just let it be but I’m in a slight different situation that what I’ve seen answered on here before. I have left the UK after a decade there, I’m a French national, and I have outstanding debt on my MonzoFlex account. Out of the £5000 limit I owe…
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Defaulting before DMP
Hi all I have found this forum so helpful so thank you in advance. After a lot of consideration we are planning to enter into a DMP with Stepchange. IVA is not suitable for us as we owe too much so creditors unlikely to accept the small payment we can make. Bankruptcy was an option but with the cost of rent in our area…
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How do I know when a debt has been sold?
I received my first default a couple of weeks ago and since I’ve received letters from Opos with wording like “our client” “acting on behalf of” we’ll have to return your account” Does this sound like the debt has been sold or the collections are still in house? Do creditors have to advise you if a debt has been sold? Is…
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Most recent: Three years to get debt free by beanielou
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