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Is defauting on loans the way to go?
Hi all, I have several debts that, along with my priority bills, leave nothing to be able to do either snowball or avalanche approacahes, as there is literally no available cash, and if anything, I'm now dipping into my overdraft regularly. I have decided to default on two loans - one for £9k, and one for £5k, of which the…
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How long after stopping paying do I have to save an emergency fund
Hi guys quite daunting for me at the moment as I have 25k debt and I have stopped payments just this month. My question is how many months do I have before I should set up a dmp? I want to save an emergency fund, I was thinking like 3 months that will let me save about a grand. I’m a bit worried about it all now like the…
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Time taken from INTRUM to Perch ACI to Perch Verify to Perch TM Legal on Statute Barred Debt?
As I have mentioned before Intrum bought up a load of Statute Barred Debt, it would be totally absurd for them to even attempt to pretend that they did not know that it is Statute Barred and I am preparing a nice little file for for the FCA (widespread practice) and FOS to hopefully finally get the FCA to withdraw the…
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DMP - is that it?
Been reading a long time some wonderful advice on here which directed me to Step Change and a DMP. It definatley feels the rights step. Just seems a bit strightfroward....do I just cancel by DDs and send my payment to StepChange and thats it...????
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Lowell want partners earning details?
Hiya, do I have to give my husband's financial info to Lowell? It's for a debt that defaulted in 2020, solely in my name, husband is not happy with them asking for his information when the debt is only in my name. He works, I am a carer for our autistic son and don't work, also with my own disabilities, so my personal…
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Full and final settlement help thread
Hi all Am currently trying to negotiate with debt collection agencies, to get them to accept a full and final settlement figure. Does anyone have any tips on persuading them to lower their demands? Thanks
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DMP or not to DMP.... that is the question.
Hi everyone So like most on this forum I need some advice around debt and what to do with them. I work full time and am on a fairly good wage but instead of enjoying this, I was an fool a few years ago and spent more than I earnt, I did however have a very very good time :smile: So I have completed a SOA off Lemonfool…
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HSBC credit card default question
This relates to my existing HSBC Credit Card that went in default Sept 2022. Mar 2024 During a review I informed HSBC I would stop paying £50 pcm towards a previously agreed plan. My circumstances had changed and I could no longer afford the previously agreed payment. (payment was goinmg towards increased rent) March 2025…
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Laying it all out is scary but I know I need to make a change…
I’m sick to death of being sick to death. Through a number of really dumb decisions I’ve found myself in a rather significant hole. I take full responsibility for ending up where I am and absolutely will get this sorted once and for all. I’ve not only had my lightbulb moment, the bulb has smashed over my head! I’m going to…
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Being Chased for a really old debt(s)
Morning All, After a little help. A few weeks ago i received out of the blue a txt message from a company call Perch Verify stating i must con tact them, it had a reference number on it and thats it. Assuming it was span i ignored. I then last week received as letter from them claiming to act on behalf of ACI and debt…
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Amex refer debt to NCO and now Brachers LPP
I have missed payments since January 2025 with the view to defaulting. Amex referred the debt to NCO in April and I ignored their calls and emails. I had a random call from Brachers claiming to act on behalf of Amex. They asked me if I could make payment and I replied that no but they should send any correspondence to me…
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Lease payment for solar batteries
This discussion was created from comments split from: DMP mutual support thread part 13 !!.
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Help with whether to contact Debt Collectors at this point?
I was away for the week and kept getting phone calls and emails from Advantis Credit. I blocked and ignored them. But I’ve just got home to this post. There is no default showing yet on my credit file. Do I need to contact Advantis Credit yet and start paying? Also, I have this last week: ~Lloyds Bank CC default now…
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Unsure of the best route
Iv currently got a 20k novuna personal loan witch is currently in arrears due to me going on a PP Iv had a family memeber offer the money to pay the debt off but what route can I go down as it’s giving me a settlement 22k or with the loan and arrears they are asking for 28k overall it’s nearing defaulting but will it be…
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setting up payment plans
Do you have to provide details of Income and expenditure when setting up payment plans, I mean are you obligated to? Specifically, I had a Zopa card which an irresponsible lending claim was upheld on, they have closed the account, refunded interest and no longer reporting it to credit agencies. I've been emailing for weeks…
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Pickle of note!
Hi - have read so many posts on here and can relate so much - especially to the feelings of being ashamed and kicking myself for letting things get this far, I’d love thoughts on my situation… - debts 47k - all my name only and currently meeting all the payments - husband is retired and not in good health. He is aware of…
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default will it lead to Iva
Hi I’m in the process of sorting my debts by either defaulting or DMP ? However my partner is worried if we default that we won’t get offered a DMP and will go to IVA which neither of us want . Also if we have DMP will my bank see this and remove my existing overdraft that I haven’t used ?
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Default issues
Hello all I’ve had a self managed DMP for a number of years and all of my debts have subsequently fallen off my credit report. I had a payment agreement with Very (Shop Direct Finance) who agreed in Jan to backdate a default so it too would show on my credit score and subsequently drop right off, which it did, improving…
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DMP Self managed or third party help?
So I'd decided a self-managed DMP is my best route to clear my 60ish of credit cards / PayPal credit / very accounts. Ive spoken to my partner (we share a mortgage) who I live with and my kids and been honest about everything, he is shocked and naturally apprehensive. He is worried about debt collectors coming to the…
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Lowell debt close to being statute barred HELP!
Hi, So I need some advice because we all know how stressful dealing with lowells can be! I'll try and make this short.... I took out a loan with Lloyds bank a long time ago but made my last payment on 17th Dec 2018 (so very close to now being statute barred) Following a relationship breakdown and a mental breakdown I…
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