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I think an IVA is best route
Very long story short due to my soon to be ex husbands poor credit at the time the shared ownership house and all family non priority debts were in my name. The financial paperwork for divorce leaves house and all debt to me. Single Mum, one child. £42000 of debt over 4 credit cards/loans. All defaulted in the last 9…
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Advice need in 66K debt.
Hi everyone, Hope all are having a pleasant Monday. I have been quietly following discussions on this forum particularly around managing debt. as from my title i am in a lot of unsecured debts mix of loans, overdrafts and credit cards. based on the information i have read on here. i decided it was better to stop paying the…
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Feeling a bit stuck!
Hi again, Firstly, I been successful via CAB with 2 write off requests. Two small ones have been unsuccessful. I have been waiting to hear from Virgin, Barclaycard and Next, all of which have now defaulted. CAB have said they were declined, however I’ve had no letters either via CAB (who forwarded all other successful and…
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Best approach to take?
I have had a chat with chat gpt and it suggested a few things, but I wanted human perspective. I am 41, work full time for the nhs and have a good pension through them. My husband is 53 and has 17k in a pension. He has just started a new job and the pension contributions are set to kick in. According to Google, his pension…
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Debt getting me down
hi everyone, I am pretty desperate for help and not sure what to do! I have around £40k worth of debt and just about covering everything every month! I have spoken to pay plan and cccs and one has suggested an Iva and the other a dmp (which will last 17 years!!) the thought of either of these frightens the life out of me…
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Spiralling debt help
hi. I’m in around 40k of debt with 2 loans (16k total) and the rest on cards. Combination of made redundant a while back. Never missed payments. Have a mortgage and second charge. Mortgages total approx £560k and house is worth between 660-700k. Earn a salary of 65k and have children. I can’t carry on and am scared I won’t…
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First default
How do, Had my first default on credit rating. Loan from ratesetter for just under 3k. At present I have arceurope hounding me for this one. With them being a collector, not purchaser do I ignore them until it's sold or just start paying them via SO? With it not being sold, a prove it letter seems a bit pointless? I…
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Mortimer Clarke Solicitors / Cabot
Hi all, Looking for some guidance on this situation. In 2019, Mortimer Clarke issued a County Court Claim against me for around £550 on an Aqua credit card. A CCJ was entered by default as I didn’t respond due to mental health issues. The CCJ is now over 6 years old. In 2021, Aqua refunded £100 for unfair charges. Those…
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17 year old CCJ
So years ago we got into a lot of debt and in 2009 Northern Rock PLC got a CCJ against us. In 2015 we entered into an IVA but the next year it failed (they were taking all the money for themselves and only paying each creditor a few pounds each) so slowly each debtor came back to us and they were much more amicable and…
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Creditors'/County Court's Verification of Income and Expenditure (I&E)
Good afternoon, With collection activity on some recently defaulted unsecured loans and credit cards ramping up, including by certain in-house solicitors, I'd be grateful for any advice on the best way to deal with creditors who are likely to be peeved by the small amounts presently available for large debts. I need to…
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Credit card debt
Hi Long story short, I had an awful gambling habit that spiralled out of control, I’m now 5 years clean but the debt I amassed on credit cards have now got too much, it’s at about 50k. I’ve managed to completely turn my life around lost weight and starting running. I stopped paying the cards in roughly October which were…
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In need of some advice - SOA attached
Hi all, I’m looking for some advice on how to finally tackle my mounting debt and get things under control before it gets any worse. I feel like I spend all of my wages on paying off debt and nothing seems to change. We are a family of 4 (1 adult child and 1 teenager) and myself and my husband work full-time. Any advice…
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So confused with conflicting advice …
Hello, Apologies, this may turn into a long post but I’m receiving so much conflicting advice that I don’t know which way to proceed!! I am currently in around £8,500 of unsecured debt. Half of which is on a dmp with Payplan which I have been paying at £190 a month for a few years now. Originally the dmp was with…
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Don’t know how to get out of this mess.
Hi, I currently owe the following: Virgin credit card £9700 (£12600 credit limit) HSBC credit card £5411 (£7500 credit limit) Tesco credit card £4600 (£5000 credit limit) Barclays £0 (£8000 credit limit, but no option for a balance transfer) The majority of Virgin and Tesco balances are either not interest free or about to…
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Capitol Resolve
Hi there I have had a letter from Capital Resolve stating that I owe Ovo Energy a considerable amount of money. I have never been with Ovo energy and have never had a bill from them or anyone else. I have never willingly not paid any energy bill and am not aware of any outstanding payments. I have sent a letter to both…
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PayPal woes
Hello, I have been on a DMP for a while & am nearly all paid off (yay!) but I had defaulted on paying my PayPal pay in 3. This debt did not (as far as I’m aware) get added to my DMP and still shows up on my credit file. I also had a separate PayPal credit debt which was added (and is now paid) to the DMP. When I ring…
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Full and Final offer received
I have been offered a 50% discount offer as a full and final settlement from the PRA group. I was going to try a counter offer (although they have twice declined a counter offer in the last 2 years) But before I do this, should I request a copy of the CCA? The original debt was with Tesco bank from a 2014 account. But the…
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DMP - the beginnings
Hi everyone, Unfortunately I’ve been in this position before (about 16 years ago) where a DMP seems the only way out so will be going down this route shortly. I’m fairly happy with the process but wanted to ask a specific question. What happens if I don’t default on all my outstanding debt? For instance, I have an AO…
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Some DMP questions...
I'm considering entering into a DMP as debt payments are becoming a struggle due to personal circumstances leading to a reduction in my working hours/pay. I've spent days reading threads on here (really appreciate everyone sharing their knowledge and experiences) and have contacted Stepchange and feel it's the right thing…
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Balance transfer help
Sorry if this sounds like a stupid question i’m looking to do a balance to give me more time to pay and clear my debts . I’ve received an offer from one of my cards of a 5.9% per annum over 30 months with 0% fee what does this mean? Does this mean I can transfer the debt pay nothing to transfer it but if I don’t clear the…
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