-
Unaffordable lending
Just wanted to share a bit of positive news to hopefully give others some encouragement. I’ve recently had a few unaffordable lending complaints upheld — three through the Financial Ombudsman — and the outcomes have made a big difference. One loan has gone down from over £15,000 to £7,100 Another from £9,518 to £6,680 One…
-
CCJ / Old Debts / £1 Payments – Timeline not sure what to do next?!
Hi everyone - I never thought I would be back on here asking for advice but here we go Background * My ex wife and I had multiple old debts from over 10 years ago. * Back then we arranged token payments of £1/month to 4 or 5 debt collection agencies each (DCAs). We have subsequently been divorced and I have remarried *…
-
Opinions on consolidation loan
Hiya, I'm looking for opinions on if a debt consolidation loan would be worth it - I've been pre-approved through MSE loan calculator for an 11% APR loan that would cover all my CC debt - which totals £4000 - and it would drop my monthly payments from £250 to £130 over 3 years I have 2x credit cards (£2800 and £700), and…
-
Default via Arrange to pay
Hi , I started a DMP with PayPlan in March and it’s been going great but I have noticed 3 of my credit cards say arrangement to pay and 2 deliquent .I asked for them to add a default but they won’t as I’m paying ,can I ask PayPlan to holt payment to just them debts to force them to default ?Will PayPlan do that ? I don’t…
-
Undiagnosed Autism in adult
Suspected Undiagnosed Autism combined with Dyslexia in my 50yr old son: finances in a mess… heavily in debt. Doesn't own anything, so nothing for the bailiffs to seize. where to turn to … ???? I am his mum & tried to sort it out…didn't work. Is there a form of guardianship in such cases? Has anyone ever considered a…
-
Sell and rent to get rid of debt?
Currently have significant debt that is accruing 20%+ interest. I have a property that has equity that significantly exceeds debt. I can’t get 0% cards. Am I better off selling, paying off debt and renting? Then keep the equity remaining to put into future property?
-
Advice with ref to landlord intends to seek possession of property.
Not sure if i am putting this in the right place in forums but its to do with debt so if its in the wrong place can the mods move it please. 1st of all please do not judge me as i know i have made mistakes which i hope i can put right. We are in Social housing with a housing association and was on ESA and moved across from…
-
unknown debt request from arrow
hello we received a letter dated 11/10/2024 from a company called arrow, no idea who they are... the also had another letter inside from a company called opos.. both letters was claiming that they took over a debt on 1/06/2023 and say we owe a debt of £250 from Shop Direct (Carval).. that of we have no idea who they are…
-
£45k Unsecured debt - DMP?
Hi all I have £45k in unsecured debt, most accumulated over the past couple of years due to misfortune and questionable choices. I'm now running at a deficit of over £250 a month and have started missing credit card repayments. Most of my credit card debt is now on full interest at 25-30%. From what I've read, my best…
-
NatWest - Drydens
Hi, I’m awaiting debts to default on advice from members before setting up payment plans. I have a large NatWest loan (affordability complaint turned down from NatWest but currently with FOS). The amount outstanding is just under £23,000. Ive not had a formal default letter from NatWest for the loan yet. However, a letter…
-
Irresponsible lending update
Hi Everyone, I have posted a few times about how I am helping my brother with his finances - lots of debt, shockingly bad mental health and potentially undiagnosed neurodiversity has led him down a road of high debts and a total breakdown. We submitted an irresponsible lending complaint to one of his lenders - this is a…
-
Sky TV early termination
Just in case it’s helpful to anyone, I contacted Sky again regarding my TV subscription which I’m in contract for (Sky Ultimate TV package, whole home with two pucks, Sky Cinema) until August 2026 at £63 a month. I was lucky to get a really helpful guy who helped me by explaining he could get it down to £40 but that he’d…
-
Statute Barred under Scottish Law
I'm after a bit of advice about Scottish law. Specifically the five year statute of limitation on debts. I have recently had contact from a company claiming that I owe them £250 for a debt that they claim was from 2020, specifically the 9th of June 2020. They contacted me around the 20th of June this year. Now my question…
-
Can Credit Card Debt Be Offset Debt Against Pension Savings?
Hi all, Have searched the forum without success to the following question: Can a creditor such as MBNA (same banking group as Halifax) offset a soon to be defaulted credit card debt against a Scottish Widows (also same banking group as Halifax) private pension? I know they can against bank accounts - hence why I plan to…
-
Default closed - Reopened as new loan
Hi All Bit of a strange one as I can’t seem to find any information of this. I had a loan through a Credit Union which I defaulted on 5 years ago and it became a CCJ around the same time due to my past negligence with finances. I figured out a payment plan with their solicitors and have been paying it off since and haven’t…
-
Zopa ignoring complaint
Hi all, I registered an affordability complaint with Zopa due to an incredibly high loan they offered me and was approved for in an instant and in hindsight is not at all affordable and leaving me in a financial mess towards the end of every month. I sent off the complaint email on the 27th June outlining my complaint, I…
-
Debt stressing me out, can't sleep!
Hi everyone. I'm after a bit of help! I have some debt that I would like to pay off, it's been stressing me out and I really just need help on how best to approach this. I have a tumultuous relationship with money and really just need some guidance on priorities and how to organise things. I have no idea what I'm doing at…
-
Debt Advice - What is the process when defaulting and setting up a DMP?
Good Evening, I am seeking advice on what to do next with my personal debts. They total around £30,000 and I cannot afford my repayments at all at any longer. I was initially in contact with Stepchange, I applied for 'Breathing Space', which I realise may not have been the best thing to do but this ends on 01st August…
-
Query in relation to a default not showing on credit report
Hi Folks, I have a query I hope that you can advise with. I commenced my self-managed DMP journey in August 2024. I had nine creditors and all but one have defaulted. Some
payment arrangements have commenced with the companies that have made contact.
In my case, Lowell have bought two of my accounts and Cabot has bought…
-
CCJ applied for but not obtained
Hi I am back and forth with Cabot re a couple of old debts of my husbands that have just come to light (severe mental illness led to him racking up debt without me knowing). Both over 6 years old, I did the statute barred letter and the reply was that they weren't statute barred due to court proceedings initiated. One of…
A place for MoneySavers to share their journeys towards debt-free living.
9K discussions
1.7M comments
Most recent: Next steps; grip-relaxing bimbling, and avoiding the temptations by Suffolk_lass
Today at 7:55AM
Forumites help each other push down their debt by setting challenges and encouraging each other to achieve their goals.