Debt-free wannabe

Hello, I would appreciate advice from anyone who has been in a similar position or has successfully negotiated full and final settlements. I have been on a debt management plan since May 2022 approx arranged through PayPlan & now have approximately 6 months left on the plan My current position is: - Total original debt:…

Hiya, I have come across this forum and it is so helpful and reassuring. I have around £70k of credit card and personal loan debt (my husband lost his job 4 years ago). Mentally and due to some physical issues he has only been able to return to work part time and earns a third of what he did previously. Add to that the…

hello is the below email ok to send to updraft regarding an affordability complaint? Dear Updraft Complaints Team, I am writing to make a formal complaint regarding the affordability of five loans that Updraft provided to me. I believe the lending decisions did not adequately take into account my actual financial…

Last year I went to StepChange and they set up a token payment plan of £1 per debt on my plan, and that has gone well despite still receiving letters almost every day from numerous debt collection places (Lowell etc) but this plan is coming to an end in October, apparently that's the maximum length of time it can run for.…

Hi I was hoping I could get some advice on an issue for my neighbour. She is 90 years old and received a very scary letter today from Direct Collection Bailiffs Ltd saying she’s owes over £3k! I’m fuming to say the least with how scary they made the letter. They says the money was due to a firm called “Avanti Comms Ltd”.…

Hi I'm feeling very stressed at the moment. I have 25k unsecured debt and at the moment I'm just about managing to pay them with nothing left at end of month. In June next year my widowed parent allowance stops so I lose 720 income so then I will not be able to manage. I have one or two missed payments and an arrangement…

Hi everyone, I posted here before about my credit card debts and got a lot of help. My situation has changed so much that I thought it would be better to start a new thread as the old thread was getting too long.. The strange thing is that the old credit card debts are now the least of my worries. Following the advice I…

18 months ago I started an IVA, and assumed all my debts were on it. Nothing on credit record left out so as far as I'm aware the iva covers everything. Then had an text at the start of last week out of the blue from a company called Opos. Told me I had a debt and to call a number. Assumed it was a scam and moved on. Then…

How do I get an accurate SOA? This is the recent result and it is sooooo far off correct. On a good month I get to around 10 days from payday before I'm using the credit card for basics. With the buildings insurance (arrives Dec) and water rates (Mar and Sept), I pay on receipt. Currently by using C/C, which I want to…

Hello, I previously had my broadband through Pop Telcom (avoid them at all costs, FYI). I gave the required notice, ended my contract, and even paid £79 for a unreturned equipment fee. The last correspondence from them I had was from July and was an invoice for the unreturned equipment fee, which was taken out by direct…

Hi everyone, I have a couple of questions before finalising my dmp with Stepchange. I have now had 2 of 6 accounts default. Do I still continue to not pay until they all have? Also I have a joint account with my ex that joint bills come out of. Do I need to get rid of this? Existing mortgage comes out of this account and…

Hello, First time posting and looking for some help to figure out resolving the situation I’m in. For starters, I have 168k in unsecured debt, and owe a family member 19k. I have a high income (£5105 PM) but the debt is currently unserviceable due to high interest. I have run a StepChange calculator for a DMP based on…

I have approx 220k of CC and unsecured loans + a large mortgage. Most cards are no longer on 0%. My house has equity of c. £600k+ I earn just enough to pay the debt interest, but not to cover monthly expenses. I would like to avoid DMP or Bankruptcy as this will impact my ability to get Credit and presumably could result…

Hi all I have found this forum so helpful so thank you in advance. After a lot of consideration we are planning to enter into a DMP with Stepchange. IVA is not suitable for us as we owe too much so creditors unlikely to accept the small payment we can make. Bankruptcy was an option but with the cost of rent in our area…

Hi all - I have a debt of £5,900 on a credit card (now with Cabot), that has already defaulted, so has already done the damage on my credit report. I now have £2,750 that am I able to pay off, and I want to go to Cabot and offer this amount as a settlement. Firstly, what are the changes they'll accept this amount do you…

I've posted here numerous times over the years when in some sort of debt crisis or another, but feel like I've hit the end of the road. I earn 42k a year and I'm in debt to around 55k a year. My debts are currently as follows, Credit Cards and Loans Virgin1 - 1404 (Interest free for another 16 months) M&S - 2501 (Interest…

Hi all, I have been doing my self managed DMP now since last year for around 54k in debt. Mostly cards but 1 loan also. I have got to the point where they have all defaulted me, passed them to debt collectors and been paying £10 a month. I have now written to them all to request CCA's sending the standard letter. The first…

Hello, This month I am going to stop making payments against my unsecured debts (£8k), in order for them to default over the next 3-6 months, so I can then start a DMP. I have 5 creditors and I expect they will default at different times. Could you advise what I should do after the first creditors have defaulted, whilst I…

Hi everyone, I’ve spent quite a bit of time reading through the DMP threads on here and they’ve been incredibly helpful and reassuring, particularly hearing from people who have actually been through the process. I’m hoping for some views on my situation and, particularly, the period between stopping payments and actually…

Hello, I'll keep this as brief as possible but greatful for any advice and help we can get. Just returned home after a short break away to Scotland - our first holiday as a family ever and found this letter on our return. BW legal, letter of claim on behalf of JC International Acquisition LLC with the original creditor…