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Debt Arrangement Scheme - Do I wait for Defaults before starting repayment plan?
Ashamed to say my partner and I have gotten ourselves in a mess and have over £110k in unsecured debts due to failed business, bereavement and illness. We know our credit score is going to be impacted and accepted we can’t continue to bury our heads in the sand. Stepchange have advised a Debt Arrangement Scheme or…
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£15k debt, no income until May - best course of action to take here?
Hi there Owing to some stupid overspending when I was in my early-mid twenties, and then constantly dipping into other sources of finance to avoid sticking to a budget, I've now found myself in £15,179.09 worth of debt, split between credit cards, overdraft, a PayPal Credit account and a couple of nasty payday loans:…
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End of my DMP ! Debt free tips tricks and advice from someone who’s done it !
It’s official, as of 08.36 this morning my debt management plan is complete. My stepchange dashboard is zero across the board & it is all gone ! I have some final thoughts and some tips and tricks I’ve learnt along the way. I want to preface this by saying I am not a financial expert , I would just like to share my…
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DMP newbie
I am in the process of setting up a DMP through Stepchange for my debt of 25k (unsecured loans/overdraft and credit cards) Has anyone ever had a DMP refused by stepchange? I am worried because one of my loans I only took out in august23, totally irresponsible, for 8.5k it was a panic loan to consolidate and try and reduce…
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Self Managed DMP has officially begun!!
So, out of 9 debts, 4 have now defaulted… been written to by 2 DCAs for HSBC CC & Ratesetter Loan… still waiting on word from Tesco CC & Admiral have still to write about next steps. i have set up my SO’s & written to both DCA’s informing them of payment amounts for next 6 months…Not sure if they’ll be happy as I’ve set…
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Seeking advice on a family debt
od afternoon Mse forummers I come seeking aid by way of taking out a loan to repay part of a debt to a family member, due to me having 3 children, living in rented accomodation and being single income (full time employef) my plate is full! Its manageable and I’ve budgeted for what is coming. I have roughly £2700 credit…
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Should i go for DMP? Afraid of CCJ’s. HELP PLEASE!
I’m feeling ashamed to even write this. I’m in a debt of £68k spread across 5 Credit cards and 4 loans! Half of it is a debt consolidation loan taken more than a year ago but due to unforeseen circumstances and lack of planning, i had to use up credit cards that have been paid off already. My take home pay is £2750 and i…
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Debt advice - Jumped the gun with IVA, Relationship complication
Hi everyone, I'm looking for some guidance if possible. My total debt is around £28,000, and I'm a few months behind on two loans and three credit cards (I’ve only just received a default notice this month). I explored an IVA because I’ve been unable to make full payments to my creditors following a substantial increase in…
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Debt Consolidation/Remortgage Advice with Additional Borrowing
Good Morning All First Post, But I believe I'm in the right place ') I've tried to look at different Boards and decided Here may be the best place for the advice I'm looking for! @fatbelly for putting me in the right direction! Currently Based in the UK with a Repayment Mortgage with NatWest. Mortgage Remaining Fixed Rate…
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DMP or Default, that is the question!
Hi everyone I’m new here and have got to the point where I
NEED to sort my debt out. I am at the stage where I can no longer afford what I owe
and am having to do money transfers from credit cards to pay other debts coming
out of my bank on direct debit. I have read about a DMP and also defaulting and doing it
myself, both…
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Mortimer Clarke
Hey guys, so I asked Mortimer Clarke for proof of debt ownership using the prove-it letter provided on here & they sent the debt back to Cabot financial immediately without providing any proof. Does that mean they can’t provide it? Or do I now need to do the same to Cabot? I have other debts with other companies also,…
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Enforcement notice for non domestic rates
-i have a council after me for non domestic rates long story my dad bought a café at 81 as a dutiful daughter i helped were i could to run it the lease was in his name and all the takings went into his bank an accountant was employed to do accounts do wages etc at the time i covered holidays says off and sickness which i…
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Nationwide and Moorcroft Debt Help Needed.
Hi, I’m looking for some help with a credit card debt with Nationwide/Moorcroft. Sorry if this is a bit long winded…. Back in August 2018 I defaulted on a Nationwide Credit Card which sat on my credit file. The Card was originally applied for back in 2007. In that time I never contacted Nationwide or acknowledge the debt…
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CCA’s or Statute barred (prescribed debt) to try and end DMP
Good evening, First post here but I’ve been a long term reader of the site. I was looking for some advice if anyone is kind enough to help. I’ve been on a DMP with PayPlan since 2008. Original debt total was £45k and the remaining balance is around £24k. I pay £100 per month. Many of the creditors have changed a few times…
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Defaults starting to hit credit file…guidance?
Hello, seeking advice! I signed up to StepChange in December and deferred my first payment until 1st Feb. Embarrassingly, I have around £80k debt across 3 loans and a number of credit cards. I have only missed the January payment on all debts… question is should I pause with StepChange and let all debts default before…
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Need help with Cabot response
Hi Everyone, I am seeking advice over a defaulted debt that is being chased by Cabot Financial. I've had a read of the forum but still looking for some further advice before I proceed as this is all new to me. They began chasing me at the start of the year by sending letters and calling me daily. After weeks I wrote to…
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Notice of Default or Default Notice
Hi, all. My name is Shem and I am on the begining of my DMP journey.The time came for me to ask for help. My question is: Is this letter from Zopa (below) an official letter informing me about defaulting my account or just another letter before they will do it?It looks official and has this line about Consumer Credit Act…
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Should I start paying now? Unsure.
Not sure if I should be starting to make payments yet on two of my credit cards ive not paid and was waiting for defaults. Both with Newday they are Pulse and Marbles cards and both accounts have been terminated and I have passed the 180 days and saying they will default. I still receive letters saying over my limit that’s…
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DMP - continue payments to creditors until setup?
Hi, I applied for a DMP with StepChange a couple of days ago. I understand it can take 1-2 weeks usually to setup. Their advice is to carry on regular payments to creditors until it is setup. However, the entire debt to my creditors was included in the DMP. So if I continue to make the regular payments, I will have…
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Enforceable?! Link
At the end of March my husband and I requested ccas from pur creditors and used the debt camel template requesting the agreement and statements. Link (a fluid card) have come back with a letter saying enforceable and included the origi al agreement with an electronic signature but no statement. Link also (an aqua card)…
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