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Redundancy, remortgaging and debt
Hello all, Just a quick one for a quick advice. So my husband has just been made redundant. We have lot of debt. And can remortgage from 2nd of February. I was looking at doing self managed DMP. A few of my credit cards need paying today 30/01. My question is: do I stop paying them now to start the process of defaulting?…
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DMP associated bank accounts
I am intending on starting a DMP - I owe money on my overdraft on my current account- I have a new account elsewhere. However, I have associated accounts for my children, they are 16+ and use the debit cards in their names to spend with. Is their money safe? or can the bank call upon the balance and attached to my account?
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What small DFW things will you do this w/c 27/01
When we start on the DFW trail we do loads of "big stuff" that makes quite a difference to our situation. These include having our lightbulb moment, cutting up the credit cards, and canceling Sky and the gym. But once we have done the bigger stuff, we often feel that we are not making the same amount of progress, when in…
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Littlewood Debts
Anybody got any experience, advice on what Littlewoods does in regard to falling into arrears and not making the minimum payment each month. I have fallen into arrears with a current balance owing of £1464.50. The payment of £15 a month I need to clear the Buy Now Pay Later balance I can afford to avoid paying any…
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Panicking
My partner went to cap over a year ago. They took all his info and suggested an rva, however they then said they were too busy and refered him to moneywellness, however over a year later we are still waiting. They keep asking him to upload more info, now the cap referral is out of date and all the time the debs keep…
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Council Tax / Attachment of Earnings
Morning all - advice needed on how to proceed if possible please. Got behind with Council Tax over the last period due to moving house etc. Received a summons at end of December and a request for breakdown of earnings. Sent that through and after back and forth with the Council - it was agreed by them they would pass this…
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DRO/IVA/Bankruptcy advice
Hello I'm desperately trying to get some advice DRO/IVA/Bankruptcy having gone around in circles! After speaking to Step Change, I was advised to take the option of a DRO to clear my debt. However, when speaking to Money Wellness (the company Step Change advised I speak to to arrange this), I was told that I wouldn't be…
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How to cope with debt mentally?
I worked every day including weekends to save £40k (£15k from investments) over the last year. Having saved £40k and ready to put down for a deposit, I had a manic episode where I lost all £40k, and took out a £25k personal loan and lost that too. I pay £615 monthly interest on the loan, I make £3,300 after tax and live…
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Help required with debt issues please
Hello all, I have a diary on the DFW board but was advised to post SOA here as get more advise. If you want the background please go to DFW diary, basically breakdown of marriage, lots of bereavement and major health issues for DD. And also me being too nice and helping people out with money and situations and now it has…
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WIll PayPlan wait to start DMP?
Was planning to let accounts default first because starting payments for DMP with PayPlan. Currently talking to an advisor and they are getting initial information from me. I think I already have a couple of missed payments in January. Not planning to make any more payments this February. And also for a few months until I…
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Considering a DMP
This discussion was created from comments split from: DMP mutual support thread part 13 !!.
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Advice from Your Experience ?
Hi, I am wondering if anyone can advise me from experience how they have managed to pay off their debts... It may not sound like much to some and i know that people are worse off than me but, I have £8727.81 of debt and its keeping me awake at night time. I have very 3 young children whom are missing out due to me having…
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Starting the process advise - SOA
Hi, I have been lurking on here and reading all the advice and experiences of DMP and am slowly accepting that I need to do one for myself. My question is, my husband and I have a joint mortgage and joint secured loan. Every part of our finances we manage jointly, from bank accounts to household bills. We have credit cards…
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Preparing for self managed DMP
Hello, just thinking about this point in the instructions from this forum: "It is sensible to open a bank account unconnected with any of the banks that you hold debts with and move your pay and priority bills (mortgage, council tax, etc) to this new account to avoid your bank using your pay to pay your non-priority…
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Council tax court summons for debt included in an IVA
I’ll explain this the best that I can but it’s a bit of a mess really! Completed and had an IVA accepted 8 months ago.. this IVA included £1800 debt of council tax. No further letters and I thought everything was going well until I received a court summons for the magistrate courts from council tax. Since the IVA I have…
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Advice re debts please
Hi i have two questions re my debts. first is Lowell keep chasing me for debts i had with Barclays Bank from 2010, there was 2. They phone and write and email me. I haven’t made payments to one but I did to the other anfter they kept contacting me, I stopped payment in November 2023. Also I stupidly got in to debt again…
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Moved: Drowning in debt, high interest mortgage and no income
This discussion has been moved.
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Merged: What to do while waiting for each debt to default? Worried about Community Finance
This discussion has been merged.
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Sanity check my plan please. Currently on Maternity leave and panicking about life and finances
Hi everyone, I have been lurking here for a while and found some excellent advice. I was hoping someone can also advise on my situation as I am now in a situation where I can't afford all my minimum repayments for unsecured debts. I have posted my SOA below. This is my current maternity leave income + my share of the…
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Cabot financial want to send company called Orbit to my door
Really hoping someone can help please. I have had Cabot financial calling me I have not answered as they call during the day when I’m sleeping as I work nightshift. Now I’m getting messages from a company called orbit saying if I don’t contact Cabot that Orbit will send someone to my door. I’m in complete meltdown mode.…
A place for MoneySavers to share their journeys towards debt-free living.
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Most recent: Starting the journey...the road is currently bumpy. by kimwp
Today at 1:17PM
Forumites help each other push down their debt by setting challenges and encouraging each other to achieve their goals.