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10% overpayment or save it?
We're about to start year 4 of our 5 year fixed mortgage. Our balance is £54,000. We pay £822 a month @1.14%. We have paid our 10% overpayment allowance at the start of each year of the deal. This year's overpayment will be £5,400 and at such a lower interest rate it doesn't really knock much off the actual interest figure…
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New 'safe' bank account for DMP
Good evening to all, I have cancelled my direct debits to my creditors. Just yesterday. I still have some 'safe' direct debits in place for insurances and rent etc. My creditors are: Lendable Loans MBNA credit card Halifax credit card Virgin Money credit card Newday credit card Barclaycard I currently bank with HSBC I'm…
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PayPal credit query
I have a query in relation to PayPal credit that I hope
somebody can advise me on. I have cancelled all my direct debit payments to creditors.
One of my creditors is PayPal credit. I owe them £2433 The next DD payment to them is due at the end of August, usually
about 28th of the month. It dawned on me today that I have a…
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Struggling with debts
Hi everyone, I'm currently really struggling with debt and don't know what to do..I earn 2200 per month and have two children. With all of the debts listed below I am having very little income to pay for anything - all priority bills are shared with my wife so I just send over half to a joint account which deals with…
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Is it time for a DMP or try to ride the storm?
Hi all, Just looking for some advice regarding my situation really. I haven't posted here before, but have regularly read the different threads and have found them very helpful. My situation is as follows: - I have been in debt of some kind since around 19 years old and have never been debt-free since this point. - Current…
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PRA county court papers
Hi Long time lurker here. Have been battling the lovely (!) PRA group for a while. This is for a debt with Barclays of £3,500. I was making regular repayments and my circumstances changed and I stupidly buried my head in the sand! Not in a position right now to pay this. I received a letter before action and responded by…
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Newbe... DMP Advice Please
Hi all, new to this forum and have read lots of threads and thought i'd post to try and get a little bit of more personal advice/thoughts.. Been on a DMP (Stepchange) since early 2016, currently down to owing just over £8k. The following are the balances and creditors/original creditors. As it's been so long and i've still…
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Debt Relief and Write Off
Hi All, So im a debt spiral and im concerned im heading for a debt crisis, in summary im spending substantially more that my income can afford, im losing sleep and becoming very concerend, im not sure how to solve the mess, id like to enter into discussions with my creditors over write off or part settlement/reduced…
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To use or not to use?
Advice please? I have around 7k and growing saved up ready for my self assessment. (The one due July 2025!)🥳 It’s in a 4% savings account Do I leave it alone ORDo I use it towards debt and then “pay it back in” I have two debts left.Debt 1: 4% AA loan (around 14k left) Debt 2: 10% Secured loan (around 65k!) I may try…
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Making a Plan
Hi I posted yesterday in the Stepchange thread. I was feeling very low and hopeless but today I have pulled myself together a bit and determined to get my debt sorted. I am 52 and self employed. I won't rehash the bio again but since Brexit and COL crisis my business has gone from thriving to barely surviving. At the start…
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Debt after 6 years period still being chased
I recently changed my name, back to previous, updated dvla driving licence. Now beong chased for an old debt over 9 years ago, is it correct they can not chase after 6 years. Also how would they get my new address must be dvla? With GDPR surely that is illegal. Help and advice much appreciated
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Direct auto finance
I bought car off yes car credit over 18 years ago and handed it back around two years later but they sold the debt to Cabot and they are chasing me for over £5000 despite not having this car for over 18 years. I have been paying it back at £5 month but there trying to get more off me which I don’t see why I should pay it’s…
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Lifechanging Help Needed For Multiple Debts
I would appreciate your assistance in what is a complex situation, thank you in advance. Multiple credit card/loans debts were accrued in 2018 totaling £60k. I now live abroad (outside EU), and have no personal assets. Four separate CCJ's have been issued in 2020 for a total amount of approx £14k. Since 2018, I have not…
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The first step has been taken...
Good afternoon to all readers. I have today, cancelled all of my direct debits as per the
advice contained within this wonderful forum. I had just had enough. I recently had some unexpected large bills of the veterinary
kind. It has also been necessary to acquire a wheelchair accessible
vehicle and that coupled with the…
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Drowning in debt, don't know where to start
Hi everyone, I hope you're all well and thank you to all who reply with their advice and experiences. I have got myself tangled up in quite the spiral of debt between my limited company and personal debt. I have a large amount of debt and Im becoming overwhelmed now with not really knowing where to begin, who to pay/not…
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Please tell me what order to pay my debt off in, thank you so much!
So I'm starting to get this sorted out, talking to creditors and getting on repayment plans, etc, so I have 6 months until they will end.What order would you do when you have about £200 a month spare? Bed loan - £155.40 - 0% - £51.80 - 3mnths left (10mnth plan was £518.80) Overdraft - £400 - constantly in this - £12.32 a…
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Nothing left to pay creditors
Hi, I have been in a DMP with PayPlan for 2 years and have paid off 2.5k with 7.5k remaining. However, I am about to move and my new mortgage is huge. After my priority bills, I have nothing left to pay. What will happen?
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Moorcroft
Hi allMy cc defaulted last November, was passed to wescott for a few months then went back to the bank . I didn't hear anything for 8 months but today the bank has writtlten to me to say they've asked moorcroft to take responsibility for my account but they will only use my information in accordance with the banks…
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Rubbish
Hello. I'm a bit rubbish with money to be honest. Earn an ok income (42k) and have a small savings (4.5k- kept for car breakdown etc). I rent. I have 10k in unsecured debts costing me around 400 a month in repayments. I have a PCP car but this is essential (249 a month). I'm overdrawn every month. Not by a huge amount but…
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Getting a default date changed after being sold on
Morning all, I wondered if i could pick your brains for advice on what i may be able to get done for my default. I entered into a DMP with step change in April 2020. I had 4 creditors that all accepted it and removed interest and charges. One of them defaulted me within 3 months (mid July 2020) which is completely expected…
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Most recent: Payment a Day - Chapter 2025 by AntoMac
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