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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…
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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…
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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…
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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.…
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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…
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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…
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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
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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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Overdraft/dmp
Hello guys So I'm 14 months in to trying to sort out my debt. Defaulted on all three credit cards. Two sold on to Cabot and I'm making monthly payments.One was handed over to wescot who gave up on me and sent it back to the original lender. I've had nothing from them since november/December last year. My old current…
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ARC..nationwide loan debt and reduced settlement letter?
Hi. As someone just starting on this journey. I have today received another letter from ARC. I told them that I was taking advice etc and would get back to them when I was ready to set up repayment plan. Loan has defaulted as of June 24. Are ARC collectors or will they have bought loan from Nationwide? Just think its odd…
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Emergency Fund vs Savings vs 0% debt - how to balance
I'm just looking for a bit of a sanity check really, and the general consensus. We have finally - through second jobs/overtime/exhaustion - got ourselves in a place where we are finally out of our chronic overdraft for the first time in months, with a healthy budget to last until payday. Next month - and beyond - we should…
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Opinions please on my first steps I need to make with debt
Hello just looking for ideas where I go from here. Not done a SOA yet. I will at some point but at the moment just after your thoughts as I have no one to talk to. Married age 49, husband aged 52 we have debts unsecured. £25k in my name and £25k his. Both work 40 hours a week. Employed. No benefits except for Child benefit…
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Halifax account - overdraft - account being closed - what is the catch?
Hi all, any advice please. Too good to be true? I have an old spends account with Halifax which we ran up a substantial overdraft on. I also have a main account with Halifax which wages go into and I then use another bank account for spending. This OD account has just been unused and in the minus for years. When Halifax…
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Lowell - 8 accounts - minimum payment
Hello. Yes, my heads been buried in the sand for a long time regarding debts but I want to get them sorted. I contacted lowell who have been texting me and they said basically there's a £10 minimum amount per account. Now, I don't think I can afford £80 a month so I am wondering what my options are? Tbh, the way my…
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DAS or DMP
I have been recently contacted by Revolution money regarding my debt. They advised that I do qualify for both DAS and DMP however they strongly encourage me to go ahead with DMP rather than DAS (I live in Scotland). I have received multiple phone calls from them. They are very insisting and always mention only advantages…
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Thoughts on writing to creditors
Good morning to all, My first cancelled direct debit will not be paid today. I don't know how long it will be before I am contacted. I was wondering if there is any value in writing to creditors to explain that I can't pay because of (reasons) and that I am seeking advice in relation to commencing a DMP in due course. At…
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Debt from ten plus years ago
Hi I have had a letter yesterday and today someone turned up at my door re a debt from over ten years ago, maybe 15 years. What is my best course of action. Assumed after so many years they don’t chase but obviously not lol not heard a thing in all these years
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140k Unsecured debt - advice
Hi, ok long story but will try to keep it as concise as possible, looking for advice as to what the best path forward is as IVA or DMP may not be suitable as we have large equity in our house. I have around 140k unsecured debt, 3 credit cards 23k, and 6 unsecured loans 110k approx, and a car loan. A lot of this debt has…
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Pay off or invest
In 2021 my wife and I fixed for five years at the ideal point and got an interest rate of 1.18% through our IFA. In the summer of 2022 after an illness some critical illness policies paid out for me and we received around £215000. At the time we had around £190000 remaining on our mortgage and were/are tied in with hefty…
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DMP- Best way?
Hi all, I’m currently sitting with debt at just over 38 grand 3 personal loans and 3 credit cards. all are currently up to date with no missed payments. I’m really struggling day to day and can not afford to carry on. I’m borrowing more and more just to live. i have spoken to step change and their recommended solution was…
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