-
Struggling with debt and trying to find a way out.
Hi After losing my business from a mixture of both Covid and IR35 reform I have been struggling for a long time and it has taken a serious toll on both my marriage, which has failed leading to seperation. I've been in a dark place but after reading through this forum it feels like I might have found a way out. I've been…
-
Link Financial - Full & Final Settlements
I've noticed there are a lot of people on here dealing with Link Financial. I currently have multiple debts with them and have started the process of offering F&F settlements. Currently their counter offers are way too high so I'm waiting it out for another 6 months before approaching them again. Has anyone had offers from…
-
Crippling debt from private lenders with PGs - Help!
To cut a long story short(ish), my partner & I had a successful business & borrowed funds into the business from private individuals to grow it. Taken in good faith and with a clear plan at the time, which was working successfully at first. However, a number of events, including the pandemic, changed the course of the…
-
This is it, rock bottom. Advice please
I have finally got to the stage where I've sold everything, my savings have run out, and I've used all available credit card funds on shopping, fuel etc. I now have nowhere to go except not pay. I have filled in a stepchange form and it says a DMP is the best way to go. Debts are 5k Lloyds card, 4k Lloyds card, 3k Capital…
-
£16500 debt and remortgage coming up
I brought a shared ownership house May 2024- since living here things havent been the best leading to £16500 debt. My remortgage is due next year- what can i do to resolve this to enable me to remortgage- thanks
-
Iva or Dmp
Hi! I am new to the community and badly needed help and support. I work as NhS staff. Last year was really good but agency shifts nowadays have dwindled down to none. I am in need of advice if I go with Dmp or Iva. I spoke with payplan and SC. Payplan offered straight out of the bat IVA. SC is dmp. My accumulated debt is…
-
Link debt.... this is getting weird
I got contacted by Link early this year chasing a debt.. Well, it seems the card which has defaulted belongs to someone with the same name as me but different demographic's. Sometime last year Link where provided with my telephone number, linked to this address. I've had spam calls previously linked to this address but…
-
Add 65k debt to mortgage, dmp, or something else?
Hi, we have serious debt. Our credit score is good at the moment but we are struggling to make payments. We need to sit down and do a full SOA this week but I estimate our credit card debt (between us) to be around 65k and an overdraft of 1.5k on our joint account. Our mortgage is due for renewal very soon. Our house is…
-
About to enter a dmp, worried for my partners credit rating
Morning, im about to enter a DMP, although im worried about my partners credit rating. we live together and have a mortgage together although we aren’t married… will this affect her credit too? Thanks
-
28k in debt - totally stuck but want turn it round…
Hi, I’m very sad to say over the last few years I’ve run up a stupid amount of debt - I feel so ashamed. I think there’s some underlying reasons behind this but I essentially have spent way over my means and then started gambling to try and get it back… I have a wife and two young kids and I basically want to sort this out…
-
Trying to reduce interest loans - getting declined
Hello there, So, I've been doing some cost calculations, I occasionally check my finances and see what I can do to improve things. At this point, I have two loans working out at £17,400. paying these off with the interest is working out about £548 a month, I can afford this but I want to try and consolidate and try and…
-
Would you consider this a LBA?
Hi All, Would appreciate your advice? Can this be considered as a letter before action? Thanks
-
Is an Affordability Complaint an effective way to get a default amended (or removed)?
I've been in a PayPlan-managed DMP since August 2019, and until recently, I believed I would have to slog it out for a few more years (based on projections) to pay the whole thing down. However, circumstances have changed, and I will have enough money to pay off all my debts next year. Despite being in my DMP for this…
-
Zopa Default
Hiya, just looking for a bit advice please. Had an email from Zopa saying they have issued a default notice on my loan and if I dont reply to this the full amount will be due. I'm assuming this is what I'm waiting for? They've said if I donr contact them then the full amount incl interest will then be due. ( I currently…
-
Debt Help Wescott - Aqua
Looking for some help. Im in the middle of setting up a DMP myself. Going well with the advice of everyone so far but I'm a bit stuck on what to do with this one Aqua balance 7800 Last payment January 2025 Account passed to wescott to manage (Not debt brought) in May 2025 Aqua defult letter sent August 2025, not yet on my…
-
Is it hopeless?
I am in around £50k of credit card debt across a number of cards. I was off work sick for a long time and eventually put onto nil pay for eighteen months. During this time I built up debt on my credit card paying my mortgage and other costs. It was stupid I now realise. I have been back in full time work for nearly two…
-
Checking In before starting my Diary
Hi, Found this Debt-free wannabe while searching internet for solutions to my rapidly spiralling situation. I wish I had found it before.... My first Credit Card payment got bounced by my bank this week for insufficient funds. :( I could have made the payment JUST but did not realise I did not have the funds in the Bills…
-
Stepchange DMP, payments
I have applied for DMP with stepchange, I have given 3 different payslips as my pay can be different each month as sometimes I do get offered overtime, but this isnt to often, how will they average my pay? Will they look at my highest payslip and go by that or go by my lowest wage earned?
-
IVA to DMP
Having struggled with my IVA for the past 3 years, I've just spent the past hour on the phone to StepChange and they've recommended a DMP. My IVA is about to fail and I've been looking for alternatives. The IVA took into account my wife's full salary even through she had her own IVA so this left me considerably out of…
-
Making an offer of settlement
Hi Everyone! We have around 24k of debts on our DMP and it's not due to finish for some time. The stress has been unbearable and whilst I am 'coping', there doesn't seem to be an end. We private rent, so aren't able to sell property in order to pay the amount owed. We have been on our DMP for over two years and haven't…
A place for MoneySavers to share their journeys towards debt-free living.
9K discussions
1.7M comments
Most recent: 2026: time to face facts and plan for the hard times ahead by SpireCaptain
Today at 10:49PM
Forumites help each other push down their debt by setting challenges and encouraging each other to achieve their goals.