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Questions about dmp vs defaulting
Hi I’ve been reading the forums and trying to understand best before posting. My partner has unsecured debts of approx 40k across a loan and credit cards. He contacted stepchange and has started the process of a DMP but I have since realised this might not be the best way as ideally want this off his credit file sooner…
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£53,000 in unsecured debt, feeling very scared.
Hi. Looking for some advice please. I am £53,000 in debt with credit cards and loans, plus owe a further £7000 to my mum. Got myself into this mess through a series of bad choices. One being to invest in a property with my ex partner (who is a property mentor and investor) which turned out to be a bad investment. I also…
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Arrears question
Hi all. Coming towards what I thought was the end of my DMP however I have just logged into one of my loan accounts directly to check the estimated balance was correct and I'm so confused. The latest statement they have says my outstanding balance is £1000 of which £3000 is in arrears. I thought I only had around £1000…
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Smaller or larger debt?
Hi. So I have now been defaulted on 4/5 creditors. I plan to pay off with a DMP sorted by myself. Is it best to pay the smaller debts first so clear quicker or does it not really make a difference? Thank you.
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Credit Union on Self Managed DMP
Hi All, I have started my journey on a self mamaged dmp, after getting in to the cycle of borrowing to cover borrowing and now cant keep up with payments. 3 of my loans are with a credit union, My Community Bank. I have seen some comments around how credit unions can be awkward to deal with in these situations. I have…
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Will a loan affect my benefits?
Hi all, needed some advice. I’m in an absolute financial pickle and can’t see a way out other than taking a loan out for £1,000, can’t really elaborate too much so I don’t identify myself. Ideally I’d have taken a smaller loan but my bank only start at a grand. Some payments have bounced and I need them to go through to be…
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In debt and don’t want to lose family
I lied to my partner about my debts, after they have bailed me out previously. I came clean this week and I have been trying to work out a way of paying back my debts as soon as possible but with interest rates, I’m taking from one credit card to pay another. is step change and a dmp a good route to go down? I have £13000…
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Best way to get out of credit card debt when can’t get a 0% card
Hi, wondering if I could get some help please? I’m currently in a bit of a difficult financial situation. My credit rating is currently fair and although I have a new job with more money, I’m struggling to pay off my credit cards. What’s the best way to do it if I haven’t got the credit rating to get a 0% card? I don’t…
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Observation after a default dropped off
Just had my final default drop off my credit reports as it reached the 6 year point. Whilst I'm expecting nothing, did check my Transunion score and the default has been removed from that within a week. My fake credit score dropped by 21 points due to me now using a greater % of my available credit (paid my credit card,…
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So you can make a difference with help from peeps on here.
Just would like to post that things cannot be better for me now. Debts paid off years ago, won a miss sold pension case which gave me a lot of cash back. I am in the process of buying a nice house for the wife and I with cash - no mortgage. If you dig in guys and look to the future you will do it. Would like to thank all…
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Debt advice sought
Advice need on this situation if anyone can offer it. Basically started a business in 2017 and to help get it going I was kind of living on credit cards to make ends meet, plus a wedding to pay for meaning I have 3 cards with around £4500 on each. Also moved house which was more of a necessity than want due to growing…
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Should I aim to partially or fully settle my defaulted debt?
About 2 years ago I ran into some money problems and ended up defaulting on a fairly significant debt which now sits with Allied international. I've been paying small monthly payments since then, but I'm finally in a position now where I can think about paying more back in. A few months ago I got an email asking to discuss…
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Cca and mediation
Thanks to the advice here I managed to challenge PRA taking me to court despite me making a cca request! I'm glad I've kept my nerve, they have tested it to the extreme trying to scare me. So now they have finally sent the version of the CCA agreement which actually says on cover letter they are still awaiting further…
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Possible statute barred debt
This discussion was created from comments split from: ACI-UK have contacted us about a debt but no info provided.
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Is this a mad idea ?
I have loan that has £5000 left on it, paying £300 a month, minimum interest now. I am getting £5000 extra in by the end of the month, am I mad to think about putting the 5000 in premium bonds and taking out 300 a month to pay for it? I am just wondering whether it may be an idea, with a possibility of winning some small…
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DMP to CCJ Charging Order Help Appreciated
Good morning, thank you for reading, this is my first post on here, having spent hours and hours reading through the forum and far too much time on google too. I have managed to get into a debt to the tune of over 100,000, caused by a poor budgeting and an old house that has needed deeper pockets than I have. I've followed…
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Credit Authority request and response to date doesn't seem right
Hi all, As part of getting to the bottom of our debt challenges requested a Credit Authority from Lowell's for an O2 debt which they claim incorporates a number of 'accounts'. To date they have supplied one Credit Authority which specifies an amount of approx. £1200 for a fixed sum loan for a single handset at the time the…
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ACI-UK have contacted us about a debt but no info provided
Hello, my husband has received an email today - never had prior communications with ACI UK nor heard of them. now this is worrying as it has set up to our joint account so this money taken will also be mine. We recognise the figure but this was for a loan the has been completely cleared and we have the letter form the loan…
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Default Notice Paperwork
Hi All (again), Apologies for another post, this time about a different issue though.. 😉 My default accounts are due to slowly drop off my credit report over the next few months, most have actually now gone and only two remain. However in attempting to locate and file some of the old paperwork, I can’t locate three of the…
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Company debts
Hello, If i run two companies at different locations and i owe money to a electricity company at location A and then business gets shut down due to personal issues etc can that debt be chased at my other business location B? Both are different companies but i am director of both companies. I am not running away from the…
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