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No debt, but repeated calls from Cabot Financial
I've been totally debt-free for 5 years, no mortgage, all cards and loans legitimately paid off. For as long as I can remember, I've been getting calls from (I think) Cabot Financial - it's a recorded message, and the speaker who recorded it was a mumbler, so it's not totally clear. The number is blocked, but somehow or…
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Back again - 15 years later
I posted here frequently many many years ago before I got married in my 20s with my first brush with debt, since then I’ve got married, had children, got divorced and even got on the properly ladder (all by myself I might add) I’ve had ups and downs financially but mostly kept myself afloat. I am now in my 40s and I’m…
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Self-managed DMP
So, I've decided a self-managed DMP is for me - 10 creditors, mostly credit cards - £45k. I've done a budget through business debtline, but they have no availability for speaking to me and then referring to stepchange, for the next month. So - as I understand it… Cancel all Direct Debits - done Don't pay until I receive…
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Age 50, in debt, aspergers, bad investments.
I have for the past decade been struggling massively, post divorce with metal health and emotional struggles (although very rarely to never visited the GP, as much of the time my children were young and I was simply terrified of any knock on effects). However to cut to the chase I've increasingly made some terrible…
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Getting ready to do the Lowell dance on a 5 year old default, what should I prepare for?
Hello all! Long time reader, first time poster. I defaulted on a PayPal credit account in July 2021, for £1600 (ish). Life took a turn for the absolute worst, and I didn't have the bandwith to advocate for myself, so I made the poor choice of just sticking my head in the sand. The account defaulted, all letters from PayPal…
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Creditfix queries and closure
Hiya. Me again. The dreaded IVA just cropped up in my mind. So I thought I’d ask on here as you put my mind straight last time :) If all goes to plan I am 18 more payments of £256 off of completing the 60months. I don’t own a home or anything of significant value. So will that likely be it once I have made the 60 payments?…
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Quick advise please
Looking for help from someone more knowledgeable than myself on behalf of my daughter She bought a flat 18 months ago with a deposit gifted from us and a sub prime mortgage as she has a debt management plan in place (unfortunately via a paid company) The mortgage is due to be re-negotiated in 6 month and although the DMP…
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SOA questions
hello I am trying to complete an SOA to inform next steps and just have some queries if anybody can help. My partner is joint owner of the property however we have been living separately for over two years due to a severe mental health crisis and during that time (and ongoing) I am paying the mortgage and all bills in our…
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DMP or Not?? Confused
Hello, DMP or not
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PayPal debt through gambling
Hi all, I've been getting into debt with PayPal for approx 2 years now through my compulsive gambling. I know this has happened to others but I thought PP cracked down on this. I think perhaps you can't spend as much as previously (thank god) but it still can amount to a fair few hundred a month. I've always been so…
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Waiting for debts to default before entering a DMP?
Hello everyone, Over the last two years, I have been absolutely reckless with credit cards, which seems to have been caused by personality changes from several different anti-epileptics drugs I have had to take. I am going to have to go into a debt management plan with debts totalling around £20k as I am now on a low…
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Self-Managed DMP - First Contact/Payments to Creditors Advice
Hi there, Just after some brief advice having recently embarked on a self-managed DMP due to a big change in personal circumstances and large uptick in outgoings due to needing a second address. Am in the process of half a dozen loans/credit cards being defaulted, sold, managed by third parties etc, having stopped all…
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Final Settlement /Any Advice
Dear all debt-free wannabes, I’m seeking advice on approaching Full & Final settlement offers with my creditors. Here’s my situation: I have been with PayPlan since 2019 and have paid a total of £40,000 so far. My remaining debt is £6,708, with an estimated completion date of 30 March 2027. My current monthly payment is…
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Need help with debt and credit cards, really don’t know where to start and what to do!
Hi, I’ve come here just for some advice and help with how to manage my finances. I’ve made some really poor financial decisions which has left me with multiple credit cards, high out goings with small not much disposable income and I’m really trying to rectify this anyway I can. I’m trying to avoid going through the IVA…
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DMP and Lump Sum
Hi, I have an incoming settlement from a divorce (buyout from FMH) of £38k. I have £30k in debts across various credit cards which were needed to start my life from scratch unfortunately. All debts have defaulted and passed to agencies, currently paying £100 a month through a DMP with StepChange. I understand that I will…
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Capped gas meter
Hi can anyone help please My boiler is 15 years old and I have informed my council that I cannot afford to run this system and they sent a surveyor out to inspect property which they did and he requested new boiler in january 2024 in March 2024 my annual gas check was done and as I had not been using the boiler and there…
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Default and DMP Plan thoughts
For anyone reading this in the future, please read the thread and see how my method changed, it might help you or someone else How do, been lingering on the forum for a while and just thought I'd ask if my plan makes sense (based on a mix of forums and elsewhere). After being in continuous debt over nearly two decades, I'm…
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In a lot of debt
(Scotland) I have found myself in a bit of debt - quite a lot actually. £39,000. Made up from various credit cards and couple of loans. This month is the first for missed payments. I am trying to build an emergency fund whilst I wait on default letters. However, I have a small issue. I am still relying on credit cards for…
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Self managed DMP
hi, I have 6 defaulted accounts that I make small monthly repayments on, and the interest has been frozen on all of them. I have been paying regularly for 4 years now. What happens after 6 years, are these debts wiped? Presumably if yes, it will take longer for my credit score to recover than if I had settled them? I am…
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Find myself in debt again! (Scotland)
You would think I’d have learned the first time round! This time round it’s way worse! £30k worse! I’m currently at the stage of missing the first payments so few months of defaults yet. Is there a template letter for offering token payments (once debt has defaulted) What do I need to provide to offer token payments? Bank…
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