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Debt-free wannabe

Mutual support and help for those on their journey to becoming debt-free.

Advice on debt (especially Amex)
Hi I took advice on a separate post a few weeks ago and was advised to post this here. I left a very well paid job recently, my new job is better for my health but pays less than half what I was on previously. Our debts are unmanageable on my new salary. I've listed everything below. We are being contacted daily by Amex as…
Seeking advice for my disastrous debt
I started a thread elsewhere on MSE and somebody recommended I come and post on here for advice. In short, I have c£60k in credit cards and loan debt - I know, it's a lot. This is personal debt that I've accrued through what I've realised is a trading addiction (if anyone can recommend a charity who can help with this kind…
Is bankruptcy right for me?
Firstly, let me just beg for you not to judge me. My anxiety is through the roof, MH in the toilet, I'm going through a lot of things right now, not just money related and I can barely cope with being alive (I am not asking for MH advice) so be gentle, pls don't judge. Someone suggested I post my expenses etc here to get…
Debt after death
An elderly relative has passed away leaving behind a couple of unsecured debts that were being managed by Stepchange. The original debts were from well over a decade ago and they've been paying two debt collection companies monthly for some time so there is now just a three figure and a small four figure outstanding…
Barclaycard and affordability complaint
I posted a couple of weeks ago in a total panic and full of anxiety about my debt (total £37k). Since then I have read and read posts on this amazing forum and I have a much more positive attitude and ready to be debt free before I am a pensioner! One of my longstanding debts is with Barclaycard. I must have had the credit…
Owe 70k, options
Hi all, Long story short, I currently owe about 70k, for various reasons, but to summarise an extremely difficult few years for me. I ended up starting a DMP which StepChange. Since then, I now earn (recently changed jobs) a lot of money (180k/yr) and I'm trying to get debt free asap so I can get a mortgage. I complained…
news article , when no cca can be produced, don't pay
https://debtcamel.co.uk/hsbc-compensation-cca-unenforceablet-was-unenforceable/
Debt Sold (Credit Card) - No communication from collectors?
Good morning, I'm in the process of trying to get on top of my debts with the current one on a credit card which was taken out with Virgin Money. They had sent me payment reminders with the last one on 26/04 (I know I shouldn't have ignored it but life...). I attempted to get in to the app to check the balance in order to…
Can action be taken after a default drops off?
Got a defaulted credit card with Lowell. The default dropped off a couple of weeks ago after hitting the 6 year point and there's a decent amount left outstanding (£3k+) I've been paying £25/month off it (nothing forcing me to pay as far as I'm aware, and I've not knowingly had any letters threatening court action etc. and…
Query: Creditor reinstating direct debit once cancelled by debtor
This may sound somewhat paranoid, but I was reading a forum post on Legal Beagles yesterday where I saw that a forum member had stated that a creditor has reinstated a cancelled direct debit as they were still owed monies by the debtor. Apparently, the poster got little help from his bank. The Direct Debit guarantee…
Out of My Depth
Hi everyone, I know there are a lot of these threads and this is so long but I've really appreciated reading all the advice and would just like a second opinion on my current position. Long story short, fiancé left when I was pregnant and now I'm a single mum to a 4yo with £20kish worth of debt. He has never met her and…
Desperately seeking advice! Please!
Hi all, this seems like the best place for advice on how to go about sorting out my huge credit card debts. I really hope someone will be kind enough to point me in the right direction. My partner and I have approx £40k of credit card debt that has now become completely unmanageable. I have been working myself up into a…
DMHEF??
I’ve just sent the form of to my cpn nurse - I’m going to send it to my creditors- what’s the chance of getting the debts written off or reduced or interest frozen?? im schizophrenic with borderline personality disorder- I’m not really in capacity to make financial decisions- mostly because my alter ego and moods highs and…
Clearing debt and credit score
I have quite a bit of debt loans credit cards (some cc are joint some in my name). The loan has 2 years left but my first place of action is to overpay on that which means i get could get it paid off by next summer a year and a bit early - which would free up about £320 per month. My next plan was then to start chipping…
I’m in a right old mess - any advice appreciated
Hi everyone,I’ve been reading through many of the threads on this forum and digesting some of the incredibly helpful advice on offer here. So, firstly, thank you. This has had a big impact on me facing up to this, hence my post today. Basically, I currently find myself with £17k+ of debt, £650+ monthly repayments, and very…
I have about 28K debt
Hello I have been struggling with debt for most of my 20s, and now I am 33, but still struggling to cut down on my debt. I need serious help. I cannot get consolidation loan as my credit score is pretty bad as you can imagine due to my outstanding credit cards and a huge personal loan. Here is a breakdown of my debt 1.…
First contact from lender...
Hi to all, I cancelled all my direct debit payments to creditors last week. I had my first contact today (yes, on a Sunday...) from Lendable to say that they are aware that my DD has been cancelled. I have a payment due on 19th August and I MUST reinstate it to avoid 'collections activity'. I am aware from previous advice…
Natwest
Good afternoon everyone. I stopped payments to all creditors on June 1st and I have had a couple of letters and emails from some of them but oh my, NatWest are bombarding me! I am getting emails and several calls a day to my landline and mobile and they leave an automated message each time (for anyone to hear) Is this…
DRO
I know the advice is stop paying and wait for defaults before setting up a DMP but does that also apply to setting up a DRO? Thanks
Default Question
Hello all, I am new here but have been reading several older posts for a few months. A quick summary of my situation is that I got in to a unaffordable debt situation with around 10 creditors, I had managed to juggle the payments for a few years but eventually it all got too much due to my partners income decreasing…

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MSE News

Bank of England cuts base rate to 4.25% – here's what it means for your mortgage and savings
The base rate has been cut to 4.25% from 4.5% by the Bank of England. This rate is used by the central bank to charge other banks and lenders when they borrow money, so the move can impact mortgage and savings rates.
Is now a good time to fix your mortgage or should you wait? Brokers answer as rates continue to fall ahead of expected Base Rate cut
Interest rates on fixed mortgage deals have continued to be cut ahead of this week's decision by the Bank of England on whether to change the Base Rate. But will fixed rates move much further – and should you fix now or wait?
Fixed-rate mortgages continue to fall ahead of expected Base Rate cut – so do brokers think now is a good time to fix?
Interest rates on fixed mortgage deals have continued to be cut ahead of this week's decision by the Bank of England on whether to change the Base Rate. But will fixed rates move much further?
Martin Lewis: How to call your bank by dialling just three numbers
How to call your bank by dialling just three numbers… simply dial 1-5-9. Then you know it's legit. Watch MoneySavingExpert.com founder Martin Lewis' video below, which explains it. And please share – the more people know, the fewer will be scammed.
Martin Lewis: How to call your bank by dialling just three numbers – as 'anti-scam' phone number called over a million times
One million calls have been made to the '159' anti-scam phone number since its launch in 2021, new figures reveal today (Wednesday 30 April). MoneySavingExpert.com founder Martin Lewis – one of the well-known faces most used in scams – explains how to call your bank by dialling just these three numbers.
Martin Lewis: How to call your bank with just three digits – as 'anti-scam' phone number called over a million times
One million calls have been made to the '159' anti-scam phone number since its launch in 2021, new figures reveal today (Wednesday 30 April). MoneySavingExpert.com founder Martin Lewis – one of the well-known faces most used in scams – explains how to call your bank by dialling just these three numbers.
Revealed: Holland & Barrett's supposedly cheaper 'Subscribe & Save' often costs more – it's promised a review after our investigation
Holland & Barrett's 'Subscribe & Save' scheme claims to offer regular shoppers "the best value" – but it failed to do so in the majority of cases MoneySavingExpert.com checked over a five month period. The retailer has now promised to review the scheme after our research found it was often more expensive.
Don't get your passport by post – 360,000 paid more than needed last year
If your passport is due for renewal, apply online if you can – it'll save you £12.50. More than 7 million Brits did just that last year – but over 360,000 missed out on savings by using a paper form instead, MoneySavingExpert.com can reveal.
Sainsbury’s Bank customer? NatWest takes over this week – here's what it means for savers and borrowers
Sainsbury's Bank's savings, credit cards and loans will be taken over by NatWest from Thursday 1 May. For most, this means little will change for now as the Sainsbury's Bank brand will remain, though it's expected to be phased out towards the end of this year. However, if you've over £85,000 saved across both banks, it's worth considering moving any excess elsewhere to ensure your cash remains protected.

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Debt-free wannabe

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