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New DMP
Hi all, So my DMP with Step Change is up and running....not heard directly from any of my creditors so assuming they have accepted the proposals - I pay my DMP and crack on with life. Getting myself into a sensible budget, changing my mindset and getting myself out of this mess which I created through my own stupidity. I…
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Self managed DMP help
Hello everyone. I understand this topic comes up over and over again but I would really appreciate your time to just clarify a few things, just to make sure I do things in the correct manner and to not dig myself a deeper hole. iv been reading a lot on here so I think I have everything I need possibly. I have debt of…
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Can anyone help please with a debit letter
Can anyone help please. I received a letter from A RUk asset recoveries limited. The debt is for a shortfall in a mortgage from 32 years ago, and a court order dated 2001.The letter states that judgements are exempt from Limitations act 1980 and remain live and payable. They are asking me to fill in a financial summery and…
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How much emergency funds to keep momentum?
Hey there, long time lurker on this board. Without posting war & peace my partner and I found ourselves in around £80k of combined unsecured debt by the end of 2023. This was a mixture of existing debt from silly spending habits, house renovation and then failed fertility treatment which really turned it into something…
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Overdraft & Self Managed DMP
I’m already on a self managed DMP and have been since last November. It’s all going well bar a few bumps in the road. One thing I have never tackled is my overdraft. Hence the post. Can you ask a bank to freeze the interest charges on your overdraft and then agree to pay £x per month to gradually reduce it? Would they then…
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Debts under wrong address
A few years back I left the UK and put most of my accounts at my parents address. When I started struggling financially I changed the address on these accounts to a mail forwarding address so I could continue to receive my letters electronically as this company scans them and I can access them from outside the UK. Since…
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Should I contact moorcroft
Hi, I’m embarking on a self managed dmp after reading guidance on this forum. Two of my accounts have now been passed to moorcroft. From what I can tell this just means they are collecting on behalf of the original debt and it hasn’t been sold to them. Do you advise to set up a payment plan or ignore them until it gets…
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What happens if you can't afford to pay?
Hi all, After following the excellent advice on this forum regarding non-payment of unsecured debts to force a default, I am now at the stage where letters have started arriving from Debt Purchasing Companies. Originally, I had 10 creditors with a combined total debt of approximately £50k which have all slowly fell into…
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Advice on SOA please
My main concern is amount of interest on my cards. I have a good credit rating but can’t get a 0% card due to the amount of debt I’m in. Reason for debt is not here any more. Am I best just cutting back on EVERYTHING and paying it off through gritted teeth or are there other options… Some of it is 0% but due to end later…
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Tips for staying focussed
Hi all sorry for a long post. Advice needed. Turn 50 next month, wife same age. We have 10 and 12 yr old kids. I work for a supermarket where every little helps, wife works in a school. We never seem to have enough money. On paper we have £300 left over a month. This includes us paying a relative £170 a month for a loan,…
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LINK Financial - 7 Day notice letter
Hi all. I have received a letter from LINK financial regarding a debt they have purchased in my name dated 22nd July and received on 25th July. They state the following: Despite our best efforts to collect this sum through communication and negotiation the balance of £xxxx.xx remains unpaid. We give you 7 days notice that…
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DMP where to start
Apologies not sure if I’ve stuck this in the right place so if I haven’t sorry. So I’ve accumulated just under 10k of debt. And I don’t feel like I’m in control of my finances anymore, moneys coming out here and there and more debt letters seem to be coming or I owe more money somewhere that I’ve forgotten about. I’ve had…
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Link financial Terminology
I have 3 accounts that are been chased by Link Financial and I am trying to work out if they have bought these accounts or they are just chasing for the original lender. In the messages they are sending me they are using different terminology for each, One they clearly state "Now owned by LC Asset 2" Not sure if this is LF…
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Contract issue help
Hello My son signed up to an online fitness coaching company this time last month. Apparently they help get a coaching business off the ground and even (supposedly) send clients your way. I really don’t know what he was thinking but I think he had a head in the cloud moment and signed up to a 12 month contract at £650 a…
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Overdales keep ringing me
So I had calls from Lowell which I have ignored as I dont owe debt as far as I know which they would chase me for. I have now got calls from Overdales saying they have sent me letters, they have the right name but I have no letter. I am now worrying they have contacted me at my old address, moved 3 yrs ago and what if I…
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Link Financial has produced CCA and terminated my account. How to proceed?
I requested the CCA for a Lloyds credit card taken out in 2006 and defaulted about 4 or 5 years later. The account was marked as a default on my file - I had a few around the same period. Since the defaults dropped off, I have kept everything 100% in order. My aim in requesting the CCA was for them to not be able to find…
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Gentle advice please on SOA
Please can you kind people look at my SOA? I’ve been completely honest with what I’m spending. I am a single parent of five, age 34, 25, 23, 17 and 14, the last two live at home. Birthdays are a moderate £60-70 each, Xmas £150 each, and this hasn’t changed with inflation for many years! Mobile/internet/TV all in contract.…
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Final Settlement Offers
Hi All 👋🏻 I’ve recently been working to settle some of my outstanding creditor accounts now they have fallen off my credit file. I’m down to the last four (having settled/cleared four) and recently sent a full and final settlement offer to two which belong to M&S Bank (loan) and HSBC Repayment Services (CC). To note these…
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Which CC to pay first to improve credit rating.
I have 4K to pay off some debt and looking to improve my credit rating. How can I do this? thank you. Balances and interest rates: £1725 - 33.9% £891 - 26.9% £7,510 - 26.9% £5000 - 24.9%
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Resolve Call Home visit
Hi, this morning I had a visit from a resolve call agent. This is apparently in relation to a very old (over 20 years) HSBC unsecured loan - I did not acknowledge any debt - just told him I had no idea what it was, and he couldn't give me any more details and that I would need to call Capquest - which he offered to do…
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Most recent: Splendid September's No-Spend Days Challenge! by cathybird
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