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Desperately need help
We have been struggling since Covid badly reduced my wife's freelance earnings but there were still the same bills to be paid. We lost about £800 per month for more than a year and managing became robbing Peter to pay Paul. In April, we headed south (into the Irish Republic. We live in Belfast) for a five day break (all…
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Quick Query pls re: defaulting/not paying and contact with creditors
First post :) last month I reached a decision that action was needed over unsecured debts that have just become too much to manage. I scanned over the threads and have followed all advice and have stopped paying, had no contact with creditors and am waiting for default. I am wobbling a bit on the no contact with creditors…
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In 26k debt, is a career change right now worth happiness over being miserable? 35M
As the title suggests, I am currently in 26k debt, it was just shy of 40k post divorce 3 years ago but have managed to reduce it back to the current amount within just under 2 years. My situation isn't the best in terms of where I want to be. I'm a military veteran and have struggled with my mental health since leaving 6…
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Maximising the benefits from spending
Hi, I wondered whether anyone would be happy to share the approaches to their spending that they use to maximise benefits via apps/vouchers/cards etc? An example of one we were talking about yesterday at work was: Buying Sainsburys Voucher via airtime for cashback shopping at Sainsburys for Nectar points Saving airtime…
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Big Debts - Considering DMP but have assets.
I owe around 25k across 4 credit cards through stupidity and overspending plus an income reduction of £700/month due to redundancy a couple of years ago. I earn only £1700/month net but am paying over £700 in repayments which isn't making a dent due to high interest, then I end up using the cards to make the end of the…
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Advice on Partial Settlement whilst on DMP
Hello, I’m getting towards the last quarter of my DMP journey and my sister has offered to help me pay it off if I can get a reduced rate. I've phoned one of the creditors - Lantern. I have a guarantor loan with them which has £4,200 left. They’ve offered me only 25% off. I know my sister and I know she’ll help me only…
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Default notice and DMP
I have a DMP with Stepchange. I got a letter from the bank saying that they’re going to send out a default notice. I’ve never had one before, so I don’t understand how it works if I have a DMP. Do I have to pay the balance or full amount because while i can’t pay the whole amount I could pay the balance within the next two…
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my debts will never be paid...PLEASE BE NICE
Hello, bit of background I was with Payplan with s DMP then in March 2020 as was self employed and when Covid hit income dropped and has never really recovered, went self managed DMP December 2022. Everything going ok , have paid a total since March 2020 of £8.5k but still owe £31k. when with Payplan was £200 per month and…
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CC company offering to help reduce debt - Is there a catch?
Hi all. My wife has had a credit card for a very long time and has only ever made the minimum payment due to low income. She has received a letter from them offering to help to reduce the debt and clear the remaining balance by way of two options: 1: 4-year plan - Keep the card - Reduction of interest rate to 21.66% with…
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notice of sums in arrears letter re. car finance
Hi,trying to help a family member who have got a letter recently saying the following: LETTER:This is a notice of sums in arrears served in accordance with Section 86B of the Consumer Credit Act 1974 (CCA) because you are behind with your payments in relation to the Agreement set out above. Please contact us as soon as…
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Moved: HOw does unemployed with business ideas get a help ?
This discussion has been moved.
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Beware the December pay trap!
Yep - here we are again, time for the annual warning thread,,, I'm talking about the "December pay trap" - you know the one, rather than being paid on the last day of the month, or the 28th, "because it's Christmas" your company set up the pay run early - anything from 10 days early. The money lands in your bank account,…
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Debt Help Needed
Hi, I am currently in a situation where my loan payments take up nearly 60% of my monthly wage. Then having to pay Credit Card payments on top of that leaving me with roughly £200/300 to get me through the month. I feel like I’m losing grip on everything and getting into a hole that I don't know how to get out off. Any…
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I need help
I just dont know what to do anymore. Im over 20k in credit debt and cant afford to pay it back. Ive been stupid and I know that. I have home equity which I kept telling myself would clear it, but thats going to be difficult. Ive cancelled all my direct debits for credit cards and thought IVA was the way to go but now im…
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Merged: HOw does unemployed with business ideas get a help ?
This discussion has been merged.
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Mortimer Clarke income and expenditure form
Hi everyone I have made a payment offer to Mortimer and Clarke solicitors for a MBNA debt. They are insisting I need to complete an income and expenditure form. I have told them in an email what I want to pay £15 per month. This MBNA debt was a debt where I won a case for unaffordable lending. In the note from from…
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Lowell - Can't Find Original CC Agreement
Hi folks. I'm currently doing the self managed DMP dance. Brachers have already stated that they will stop any further contact for 24 months. Lowell however have sent me another letter. I had asked them to produce the original CCA. This is their exact reply in the recent letter. Hidden away in the firth paragraph... "Due…
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Dealing with Marstons Debt Recovery
Any advice would be gratefully received in regard to dealing with Marstons. Currently owe £314.42 with Marstons from Council Tax arrears. When I called to change my payment plan to split payments over four monthly payments. They refused, stating that they could only cancel the payment plan, which would lead to enforcement…
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Advice regarding DMP - court action
Hey all, firstly would like to thank you all for your help and advice, its really appreciated. My situation now is i have been waiting for my debts to default some have and they have been purchased by a DCA which i have agreed affordable monthly payments to, My NatWest loan is my largest debt totalling to £65,000, they…
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Which one do I do?
I would appreciate some help. Background In 2007 (or it might have been the year before) I got a credit card with M&S. To try to help with my debts that were starting to build, in 2008 I applied for a credit card with Halifax and they sent a card and then another card days later. I don't recall asking for a second card but…
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Most recent: Next steps; grip-relaxing bimbling, and avoiding the temptations by Suffolk_lass
20 November at 10:47PM
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