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Update: Irresponsible Lending Complaint Against Amex – Refund of interests and charges
I raised a complaint against Amex for irresponsible lending, and the investigator has now issued their draft decision. They concluded it wouldn’t be fair for Amex to refund all interest and charges dating back to September 2017. Instead, they’ve recommended that Amex: • Refund all interest and charges from April 2019…
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Where to begin/realistic expectations
Hi forumites! I’ve been in debt for as long as I can remember and have wanted to pluck up the courage to do something about it for quite some time. I believe I am in what constitutes as a ‘debt crisis’ (debt slowly increasing without being able to reduce it). I’m hoping for some advice on where to start and to manage my…
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County court claim for old credit card debt?
I understand its quite rare for this kind of debt to be pursued in this way? not really sure what my options are, am I able to negotiate an arrangement and avoid court? Thanks p.s this is an ancient debt, and relates to old posts
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Creditor offering 40% settlement deal
Hi, One of my past high risk APR credit card debt collector has contacted me about a one off settlement figure on next payday and having the credit file marked as partially settled which I really do not mind and hopefully prevent me getting into trouble again in the future, just they want an income and expenditure form…
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Advice for no debt solution
Hi I posted in the wrong thread but just looking for some advice about a debt solution and guided over here I completed a DRO application with money wellness but the advisor didn’t submit it as he said my salary sacrifice car lease would make it unsuitable due to the cost. The cost is £579 but actual cost to take home is…
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Finally Come Clean
Hi all, So I have finally come clean to my other half regarding my debt. Not the full extent, as I am not ready, but I will be with time. This is due to a gambling addiction, for which I am seeking help. I have signed up to gamstop & intend on making an appointment with GP. Naturally he is upset, disappointed & things are…
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Claim form received from Kearns Solicitors
Hi Forum, I have received a claim form from Kearns Solicitors acting on behalf of LC Asset 2 SARL. This concerns a hire purchase agreement for a vehicle I took out in 2016 but due to unfortunate circumstances I had to default in 2019. The original debtor was Moneybarn but I think the debt has changed ownership a few times.…
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Consolidation
Looking for some on advice on whether a loan or a cc is best for consolidation?
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Complicated (and stupid) renovation debt scenario - desperately need some advise
Stuck in a tricky spot and feel our next decision could make or break us financially... In 2023 we bought a house which needed a lot of work to get it to where we wanted - in hindsight this seems stupid as it was our first house. We had a small pot of savings to start us off but this quickly ran dry and since we've been…
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Completed SOA, don't know what to do?!
Sat down with my husband yesterday to finally start facing up to our debt issues as we've been burying our head in the sand for a long tim! Bit of background - July 2024 we took out a second mortgage to consoldiate some debt from building work that went well over budget, the amount was affordable and freed up some funds…
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Outstanding credit card debt - now in a care home.
Good Afternoon, A family member of mine has moved into a care home. He has little income after fees et al, no savings and a 12k credit card debt over 3 cards. He tells me that a family member has phoned the individual credit card providers, explained the situation and has their agreement to cancel the debts. To me, this…
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What small things will you do this week? W/C 6th October
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 cancelling 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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credit card STRESS
Hi guys, I am so stressed about what’s best to do… I currently have a 6k credit card which was 0% but now i’m paying interest on it. I have a 4600£ loan and another 800£ loan. At the minute i’m just about managing to pay what i can (loan payments and £100 a month on CC) but now the credit card is gaining interest I can…
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The start of default road
Hello, I have now entered default with one of two CC’s that I hold (MBNA) the other being Barclaycard which has not yet defaulted. I have had a scout through this thread and seeking some advice on how to take my next steps and things to avoid doing. I read about people going self managed which sound better and to take the…
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Which Debt to Default on
Hello, I have 4 credit debts totalling £12k, 3 loans £18k. So I was
made redundant earlier on the year and been behind the payments and recently
secured a 6 month temp role on a much lesser pay. The current arrears and minimum payment is equivalent to my
monthly pay minus the basic expense like food, travel,…
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ACI and Perch group letters and texts
I have a debt with MBNA for a credit card I defaulted on from approx 20 years ago that I am being chased for by the above company, ACI and Perch group. I had a CCJ against me, that I didn’t even know about at the time which I assume was due to a house move? I also have not been paying anything towards that. I have heard…
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New SOA - first one in about 10 years
Used these boards a long time ago when I was trying to tackle debt....fast forward many years and the debt has mounted up...mainly due to a failed business where we were personal guarentors on loans. Anyway, decided I need to not bury my head in the sand and work out a way forward....so any suggestions on my new SOA? DOn't…
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Just deciding... which way round to pay these off....
Will finish paying off a credit card in Oct and I am deciding which to pay off next, realise it doesn't really matter. 1750 on a 0% until April 27 credit card 8000 on a 5.9% loan. Ive 'paid' the interest on the loan already really, but understand it will affect the final figure. Approximately 28 months left. Avalanche or…
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DMP advice for newbie. Please help
Hi all, My husband & I are £41k in debt & have £4.5k in savings as we've just sold an asset. We are looking at entering into a joint DMP. The debt in my name is low (£9k) but I'm the problem spending wise (It's me who overspends) so we are looking at making it joint. StepChange suggested an IVA or DMP. The DMP seems to be…
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Self debt management
So I’m currently £22000 in debt with credit cards and a car loan the car loan is up to date. I have called all credit card companies and they have defaulted my accounts, I have set up token payments with them all and some are more supportive than others, I struggle with mental health and disability which I have explained…
A place for MoneySavers to share their journeys towards debt-free living.
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Forumites help each other push down their debt by setting challenges and encouraging each other to achieve their goals.