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Debt-free wannabe

Mutual support and help for those on their journey to becoming debt-free.

Would DMP be the best option?
I have been struggling with Debt for the past couple of years as and it has spiralled out of control and I am looking for advice on the best course of action to address this. My income after tax is £1974 and my household expenses (not including debt payments) with my share of the rent (living with partner) is £1771. I have…
More troubles with Cabot
This discussion was created from comments split from: Cabot - wanting more!.
Living abroad with overwhelming UK debt
I'm not sure my best course of action? We moved to Bulgaria two and a half years ago when my job finished in the UK. We'd previously bought a cheap house (£7000) in Bulgaria with the intention of retiring there. I'm now 60, so a few years off yet. We didn't have a house in the UK as I was a farmer manager and we lived in a…
Advice on defaulting
My husband and I have realised that we can't carry on the way we are and need to tackle our debt. It is about 45k between us (husband has 2 personal loans, about £10k each, I have CC £12k, then various other smaller debts). It's got to the point where we are having to use CC for food etc as our disposable income has to…
Unenforceable? N*xt
Hi all, I've been in a dmp since 2022 and sent cca requests out in March, I just received this back from Ne*t. It doesn't say unenforceable and I'm not sure what 'Executed' CCA means? The account defaulted a while back. The amount is for just over £200. Can I stop paying this one, letter attached? Thanks so much for any…
Step change to pay plan
Hi all. Is it possible to move from step change to pay plan. I ask this as I have stupidly required some more debts and feel like I would just like to start a fresh. Thanks
Cabot - wanting more!
Hi I have been paying a debt to cabot, for many years. The debt is probably 12 to 13 years old. The debt has passed through many debt collectors in that time, however recently cabot have sent me letters asking me to increase the monthly payments, which I admit is not a great deal. The letters are increasing, I'm getting 1…
Letter of Claim advice please
Hello everyone, I have an issue around a letter of claim that I'd like your help on please. I've had a few letters from BW Legal on the behalf of JC International Acquisition claiming that I owe them just shy of £500 for a debt that I owe to Sky UK Limited. Before we get too far into this I just want to say I've never had…
DMP or try to attack debt myself
Looking for some advice or comments from those that might have been in similar a situation. Have posted this on Reddit but was told this is the where the knowledge is at. I have had debts in some form for around 5 years. I was making solid progress to clear these in 2022 however got a bit reckless in spending in 2023/24…
AMEX and defaults in self managed DMP
Just posting here to see if anyone had experience as to how quickly AMEX default? 2 payments have been missed and the interest is climbing rapidly so keen to know if anyone had experience of this? Many thanks
Received my first letter from Debt Recovery
So this morning I received my first letter from a Debt Recovery for a Marks and Spencer debt - a little bit scared. There is now a default showing for this debt only on my credit file. Waiting for info on the other 4 debts. Here is my thought process. * Make an updated list (nothing has changed since I stopped paying in…
Helping Dad with debt
My dad is about to retire due to ill health and has debt with companies such as Lowell (around £2k), Cabot (around £2k) and capital one (£?) as well his mortgage (£9k) and a loan (?). I’m trying to help him pay off his debts which I have just found out about as he physically cannot keep working. The loan company has not…
Approaching 6-year mark but Lowell reapplying default to credit file?
Hi all, I am approaching the 6-year mark (thankfully), but the company, Lowell, appears to be attempting to reapply the default to my credit file. From reading, I understand that once an initial default has been entered onto a credit file, it cannot be re-entered or reapplied but I am concerned this is a loophole that some…
Affordability complaint query
My four NatWest accounts are with the Financial Ombudsman, and I’m just wondering ‘IF’ they upheld it, what would potentially happen with the interest, etc. I had two credit cards, one was a 12% that did have the limit increased on a few times and was my oldest and I’d regularly balance transfer off it to other cards,…
Link threat of legal action
Hi, I would really appreciate some advice. I was in a DMP from 2012 to 2020, I wrote to all creditors in 2020 asking for the CCA, none of them could produce. Some accepted F&F, some didn't. Of those that didn't I've either heard no more, or had the odd text/email/letter letting me know the debt is still outstanding. Link…
Cabot Experience
Cabot have been writing to me for around 3 years for 2 credit cards debts they have supposedly bought. During this time they have wrote to me on numerous occasions, recently with increasing frequency. Is it usual for them to chase debts for so long without any engagement before seeking a CCJ? Does the length of time these…
Capquest
I have had the same letter saying that i owe money from 2001, i have just phoned them and explained that it isn't correct and they have told me they closing the account, phoning back now to get confirmation email
I am stuck
Hello there, I am a bit stuck on what to do. I owe around £30k to debt. I am a homeowner and do have money in (our) property. However, I cannot get to it because we also have a £75,000 Help To Buy loan on it. If I start a Debt Management Plan I can't buy out the £75k. If I don't buy it out I can't take out any of the money…
What to tell StepChange
I suspect the answer may be “the truth”, but I’m putting off trying to get through by phone to SC as I think I might be dissuaded from my plan! DMP first payment was April and I paused it in May. Affordability complaint with Financial Ombudsman for 4 NatWest accounts, all passed to Moorcroft and I don’t want to pay…
Anxiety Over Self-Managed DMP
I was asking advice here a few weeks back re self-managing my DMP. It’s newly set up with StepChange who took first direct debit in April. I’ve asked them to pause May as I had an unexpectedly expensive April 🤦‍♀️ and I haven’t yet built up an emergency fund to any great degree, which SC have agreed to. I was on the verge…

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Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
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Base rate held at 4.25% – here's what it means and when it might be cut next
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Applied for South West Trains 'boundary fares' compensation? Act now to claim it
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Debt-free wannabe

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