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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…
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Westcot after default
Hi, I have read a lot of advice and I think I am getting confused as there is advice not to deal with Westcot as they are debt managers rather than purchasers. But I dont know if that applies to me as Tesco have already defaulted me. I have received a letter from them (and they are calling very frequently) to say they have…
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HSBC/Wescot
My HSBC CC debt defaulted a couple of months ago and was passed to Wescot…I set up a standing order for £5 a month, which they have accepted and said it will be reviewed in 6 months. i have only made 2 payments (debt is £4,500). Surprised to have received a letter from Wescot asking me to get in touch about a reduction…
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DEBT letter from OPOS ?
hi , hoping for some spot on advice here , it all began about 7 weeks ago i got a letter fro some sort of A alleged debt from a company called opos ( never heard of them ) in my name to my address so i opened it up to read i can pay in full pay in bits and or pay up front fee of £77 via a web site on this letter and by…
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Help - DMP & Default Question
Hi, I am a gambling addict and have recently very quickly been able to gamble a significant sum of money by getting loans and credit cards and an overdraft within weeks of one another. I own my house with husband who I am needing to speak to about it, however before I do I need to understand my plan of action. I have today…
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Merged: Full & final settlement help
This discussion has been merged.
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Scared of Debt, Divorce & Losing My Home – Please Help
Hi everyone, I’m really hoping for some guidance and reassurance because I feel completely lost right now. A bit of background: * I went through a divorce recently and bought a new home for me and my little girl. * Not long after, I lost my job due to a mix of anxiety, depression and then breaking my ankle (I had surgery,…
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Credit Card Debt
I have unfortunately got myself into nearly £10,000 worth of credit card debt. Started off interest free now thats run out and im paying interest. Monthly minimum payments are nearly £300. I am also paying off a £6000 loan. My credit is rated as fair/good on Clearscore however when i have tried to either get a debt…
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Money Issues Due to Sickness from Work
Hello, I have recently been diagnosed with breast cancer meaning I have to take a considerable time off work and am only entitled to SSP. My husband earns well but we have debts of about £30k so need to somehow consolidate these while I am not bringing in my full wage. I had planned to apply for an IVA but not sure if this…
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Pre DRO clarification not covered on gov website
Hi, so in short, I’m off work ill, I’ve got a disability as recognised under the equalities act 2010. Settlement with employer possible, claiming UC standard rate and housing element, and at risk of homelessness, council housing team are supporting. CAB helping with £30,000 debt, DMHEF should be on its way to creditors but…
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£31,000 Credit Card Debt and My Anxiety is Unbearable
Hi everyone, I’m in around £31,000 of credit card debt
across four cards, and the stress and anxiety is seriously affecting my health. I’ve
struggled with anxiety for over 20 years, and this situation has made it so
much worse. I missed my minimum payments in March and will
likely miss them again in April. The constant…
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MSE News: Council Tax debt collection practices are changing in Wales
Council Tax debt collection in Wales will become less aggressive next year, under new rules announced by the Welsh Government today (Friday 26 September). It's a big win for MoneySavingExpert.com founder Martin Lewis and his charity the Money and Mental Health Policy Institute (MMHPI), who have been campaigning to change…
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Aqua credit card/ Moorcroft
Hi, looking for some advise on an email I have received. Aqua not showing as defaulted yet on my credit report although it does sy contract terminated on my app and I have not received anything in terms of a letter in the post. All letters in my app.(ishis the same) I have now had an email from Moorcroft asking me to…
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Paypal Credit no default letter— [FOS Complaint Update] PayPal Tried to Offer an Interest-Free Settl
Paypal Credit has reported default on my credit report but I’ve received any letter from any debt collector or third party about making payments. Should I contact PayPal credit or wait to receive a letter about making payments. Many thanks in advance.
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Am I doing the right thing?
Hi all. Just want to check I'm going along the right lines here. One of my credit cards defaulted in seot 2023. Last payment was April 23. It was passed to westcot, back to original lender, to moorcroft ... I have not interacted in anyway with any of these companies . The last contact I received in writing was moorcroft in…
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Statute barred debt (Credit card) from 16 years ago...
I have a statute barred debt (Credit card) from 16 years
ago. After ignoring text messages, phone calls and the occasional letter from Capquest
for many years, I recently started receiving calls and letters from ACI, who are
working on behalf of Capquest. I then received a letter from Verity, who are
working on behalf of…
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Help required
A long time lurker. This forum has been very useful and I have followed advice to let two accounts default as I could not keep up with the repayments. I have been saving an emergency fund and feel as though I am in a better place moving forward. I have two accounts with Tesco that have defaulted and are now marked as…
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